Holcim Philippines, Inc. has generated P908.92 million in net attributable profit for the first quarter, 81% higher than the P501.31-million posted in the same period last year due to “operational efficiency and cost discipline.”
“We delivered an excellent performance in the first quarter due to our sustained focus on health, cost, and cash,” Holcim Philippines President and Chief Executive Officer Horia Ciprian Adrian said in a statement on Friday.
Sales declined by six percent year-on-year to P6.81 billion from P7.27 billion due to the slow recovery of construction activity.
Around 80% of cement orders in the first quarter are said to be done through its online facility, Easybuild.
“Payments over the platform have also ballooned more than three times from the previous year,” Holcim Philippines said.
The company also launched additions to its product line, such as multipurpose mortar Holcim Multifix and water repellent cement Holcim Aqua X.
Improvements on operational costs caused the company’s earnings before interest and taxes for the period to improve by 69% to P1.31 billion from P693.78 million in 2019.
Holcim Philippines said it also participated in discussions on sustainability to highlight the company’s efforts on climate action and plastic waste management, joining the forums of the Department of Trade and Industry and the Department of Environment and Natural Resources.
Its Bulacan plant earned an ISO 45001:2018 certification for Occupational Health and Safety Management System and was recertified for ISO 9001:2015 Quality Management System and ISO 14001:2015 Environmental Management System.
Meanwhile, the company said it will have a coronavirus disease 2019 (COVID-19) vaccination program for its employees and dependents by the third quarter of the year.
“This will further bolster our resilience and help us sustain robust performance,” Mr. Adrian said.
Shares of Holcim Philippines at the stock exchange declined by 1.08% or P0.06 on Friday to close at P5.50 each. — Keren Concepcion G. Valmonte