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Business

AllHome starts shift to solar power

Iris Gonzales - The Philippine Star
AllHome starts shift to solar power
AllHome recently kicked-off its renewable energy efforts with the installation of solar panels at its Bacolod branch.This was quickly followed by solar panel deployment in additional AllHome locations in Sto. Tomas, Silang, Vibal, Santiago, Antipolo, Sta. Maria, and Imus.
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MANILA, Philippines — Villar-owned AllHome, the country’s home improvement one-stop-shop, has started its shift to solar energy.

AllHome recently kicked-off its renewable energy efforts with the installation of solar panels at its Bacolod branch.This was quickly followed by solar panel deployment in additional AllHome locations in Sto. Tomas, Silang, Vibal, Santiago, Antipolo, Sta. Maria, and Imus.

Camille Villar, vice chairman of AllHome, said the company is heeding the strong clamor all over the world for business entities to be cognizant of their responsibilities as members of larger communities.

“Renewable energy not only slows the harmful effect of industry to our planet, but offers us efficiencies in operations,” she said.

As of 2021, nine stores have already been installed with solar panels, with six of the large-format stores newly installed with solar panels.

The conversion to renewable energy sources has translated to up to 10 percent energy savings to the stores’ consumption.

This developed as AllHome declared P288.8 million in cash dividends to its stockholders last Nov. 29. This is 20 percent of AllHome’s 2021 net income after tax.

“We have stayed the course, sustaining our improvement over pre-pandemic performance in 2019 and even improved on our gross and EBITDA margins. We remain resolute in our constant pursuit of improvement in our operational efficiencies and are pleased to deliver value to our shareholders as we continue our focus on maximizing fourth quarter 2022,” said AllHome chairman Manny Villar.

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