Cement producer Holcim Philippines Inc. reported a 294 percent jump in net income to P1.6 billion in the first half of the year as net sales increased by 20 percent to P13.7 billion.
In a disclosure to the Philippine Stock Exchange, the firm said that for the second quarter of 2021, it posted P721.4 million in net income to reverse its loss in the same period last year.
The net sales surged by 65 percent to P6.9 billion in the second quarter of the year as demand and prices recovered with the rebound in construction activity.
Holcim said its better performance is due to the company’s rigorous cost discipline, sustained operational excellence and improved volumes.
“Winning with purpose and helping build progress in the Philippines perfectly capture our performance in the second quarter. Aside from delivering outstanding results, we also helped our partners build greener, smarter, and for all,” said Holcim Philippines President and CEO Horia Adrian.
He noted that, “We continue our efforts to use recycled materials in our plants, having consumed more than 208,000 tons of wastes as alternative fuels and raw materials.”
Holcim Philippines stepped up initiatives to strengthen innovation and sustainability to drive business performance and contribute to building progress in the Philippines.
This includes programs to deliver innovative and sustainable products, more efficient operations, and stronger customer focus to raise business results and positive social and environmental impact.
Adrian said Holcim Philippines is ready to provide innovative and affordable building solutions to help local stakeholders address the housing backlog.
Holcim Philippines recently signed an agreement with Sinoma CBMIPH Construction Corporation to install drying facilities at cement plants in Bacnotan, La Union and Lugait, Misamis Oriental.
The projects will reduce the plants’ fuel consumption and increase blended cement production. These will improve the company’s environmental footprint and service to customers.
Meanwhile, the company started its COVID-19 vaccination program in July 2021 with a number of employees receiving their first dose from the shipment brought in by private sector partners.
While it has ordered enough doses to cover a majority of employees, the company is encouraging its people to secure vaccines offered by local governments.