Holcim Philippines reports 1Q18 performance
Published by Robyn Wainwright,
Holcim Philippines has shown positive volume growth from robust public investments in infrastructure and continued improvement in operational efficiencies to mitigate challenges from rising energy costs.
Cement sales volumes rose 7% in 1Q18 versus same period last year due to increased construction activity nationwide, although revenues were down 2.7% to PHP8.6 billion due to the impact imports had on pricing.
Operating EBITDA and net income reached PHP1.3 billion and PHP700 million, respectively in Q1Q18. The company’s 1Q18 profits are 278% higher than its 4Q17 results, and the highest since 3Q17, which highlights the steady improvement of the company’s performance.
Holcim Philippines appointed John Stull, former head of LafargeHolcim’s cement operations in the US, as President and CEO on April 20. "Demand conditions are improving as the government continues to ramp up infrastructure investments,"said John Stull. "However, its positive impact on our financial performance was not enough to offset higher energy costs and weaker cement prices brought by intense competition.”
Read the article online at: https://www.worldcement.com/asia-pacific-rim/14052018/holcim-philippines-reports-q118-performance/
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