HOLCIM UPS INCOME BY 41%

Listed Holcim Philippines Inc  posted earnings of  P3.6billion, up by 41 percent as it improved its costs and completed capacity expansion projects.

In its annual stockholders meeting today, Holcim Philippines Chairman Tomas Alcantara said that along with a strong financial performance in 2019 the company also completed capacity expansion projects and efficiency improvements to industrial and logistics operations that strengthen the sustainability of the business moving forward.

“We grew Operating EBITDA year-on-year by 36.7% to Php 6.7 billion on higher efficiencies and improved costs across all areas of the business These helped us grow our 2019 net income by 41.0% to Php 3.6 billion. This was the result of continuing improvement initiatives that make our performance sustainable and our Company more resilient and adaptable to market developments.

These achievements motivate us to do even better. We are committed to make sure Holcim Philippines continues to be an even stronger partner for the country’s progress,” he added. Holcim Philippines President and CEO John Stull acknowledged that while the current business environment has its challenges, the company is fully ready to face these.

“Our health and safety culture makes us confident in our ability to continue running our facilities safely as we embrace the new normal,” he said. Stull said Holcim Philippines took quick and aggressive measures for personal hygiene, social distancing and health checks to keep people safe against COVID-19 in its facilities.