Holcim Philippines reports 9.7% increase in 2Q15 sales

Holcim Philippines has reported a 9.7% increase in sales for 2Q15 to P9.4 billion. Net income was up 1.6% to P1.5 billion, which is attributed to higher sales volumes and prices. In the first half of the year, profit reached P3 billion, a slight y/y decrease, due to maintenance works and higher use of clinker imports. Sales in 1H15 were up 6.73% to P17.995 billion.

Holcim Philippines’ President Eduardo A. Sahagun has told press that the company is planning to revive a lot of projects as it strives to meet growing cement demand. Holcim Philippines will invest up to US$40 million to bring capacity to 10 million t, and Sahagun has spoken of the ability to add capacity at its Calaca and Mabini plants. The recent merger with Lafarge Republic Inc. also adds the Star terminal, which, Sahagun says, could double the company’s capacity.

Assets gained with the merger in the Philippines include 100% of Lafarge Republic Aggregates Inc., Quimson Limestones Inc. and a 40% stake in Sigma Cee Mining Corp. and APC Properties Inc., as well as the Star Terminal.

Edited from various sources by Katherine Guenioui

Sources:

• Interaksyon
• Business World Online
• Manila Times
• Manila Bulletin

Read the article online at: https://www.worldcement.com/asia-pacific-rim/11082015/holcim-philippines-reports-increase-in-2q15-sales-301/