Holcim logs record P5.1B profit in 2014

MANILA, Philippines - Leading cement manufacturer Holcim Philippines has logged its best performance ever, booking its third straight year of record profit on the back of strong cement demand and improved operational efficiency.

In a statement, Holcim said net earnings rose to an all-time high of P5.1 billion last year, up 12.9 percent from the P4.6 billion recorded the previous year as local construction activity remained on an upswing.

A sustained high level of private sector investment drove double-digit growth in the construction sector last year to keep cement in high demand.

Sales volume went up 12.3 percent to help the company achieve revenues of P32.6 billion, which was 13 percent higher than the previous year.

The company’s focus on operational efficiency and cost management improved production and distribution costs.

“The healthy economy continues to provide opportunities for our business to thrive. Last year, with the sustained construction boom, the challenge was ensuring that there is enough supply so these projects are completed on time and on budget. Our company is proud to have met this challenge and contributed to the country’s development,” Holcim Philippines president and CEO Eduardo A. Sahagun.

Looking ahead, Sahagun said the company will focus on continuing to improve its ability to supply the market through efficiency initiatives in manufacturing and logistics.

The company is hopeful an increase in government infrastructure spending coupled with sustained private sector expansion and faster implementation of Public-Private Partnership (PPP) projects will help sustain its growth momentum.

Holcim Philippines operates four cement plants in La Union, Bulacan, Misamis Oriental and Davao. Its parent firm is one of the world’s leading suppliers of cement and aggregates (crushed stone, gravel and sand) as well as downstream activities such as ready-mix concrete and asphalt.