Holcim profit up 24% in 2021

MANILA, Philippines — Holcim Philippines posted a net income of P2.6 billion last year, up 24.2 percent  from P2 billion in 2020.

Horia Adrian, president and CEO of Holcim Philippines,  said despite market pressures brought by the pandemic, weather disturbances that impacted the continuity of construction activities, and surges in energy and fuel prices, the company  was able to deliver strong profit growth last year.

“We are excited to further raise performance and deliver more positive impact through strategies and initiatives anchored on cost mindfulness, operational excellence, innovation, and sustainability,” he said.

These are the foundations that enable us to continue growing profitably and contributing to the country’s development with our innovative building solutions and sustainability programs, Adrian said.

Net sales rose by 3.6 percent  to P26.9 billion on improved volumes and prices given the modest recovery of construction activity.

In the fourth quarter of last year,  the company’s performance was affected by softer market demand and higher costs of energy and fuel related to external developments. Net profit for the period was P264.9 million versus P1 billion a year ago.

Adrian said Holcim Philippines continues to remain resilient against COVID.

Holcim Philippines ramped up product innovations with the launch of new building solutions for specific building applications including Holcim Aqua X, the country’s first ever water-repellent cement that protects structures against excess moisture.