Holcim Philippines reports growth in 2021 despite lower Q4 profits

Holcim Philippines Inc. saw an improvement in its 2021 bottom line, even as its net profit for the last three months of the year was slashed by 75%.

Holcim reported a net profit of P264,867 in the fourth quarter of the past year, down from the P1.036 million in the same quarter of 2020. Net sales for the period slipped to P6.797 million from P7.235 million.

The company said the fourth-quarter performance was hit by softer market demand and higher costs of energy due to external developments.

The latest figures brought the full-year net profit to P2.565 million, up from P2.064 million in 2020 as net sales grew slightly to P26.946 million from P26.015 million in the previous year.

“Despite market pressures brought by the pandemic, weather disturbances that impacted the continuity of construction activities, and surged in energy and fuel prices, our company was able to deliver strong profit growth in 2021 from 2020,” Holcim Philippines president and chief executive Horia Adrian said in a regulatory filing.

The company upgraded its plants in La Union and Misamis Oriental, and completed new facilities for geocycle in Bulacan in a bid to cut down its consumption of natural resources and its carbon footprint.

Adrian said the company expects to raise its performance further through strategies in operational excellence, innovation, and sustainability.

“These are the foundations that enable us to continue growing profitably and contributing to the country’s development with our innovative building solutions and sustainability programs,” he continued.

Holcim Philippines produces five cement products — Holcim Premium, Holcim 4X, Holcim Excel, Holcim WallRight Cement, and Holcim Solido.

Its wholly-owned subsidiaries include Holcim Philippines Manufacturing Corporation, Excel Concrete Logistics Inc., Holcim Philippines Business Services Center Inc., HuBB Stores and Services Inc., and Mabini Grinding Mill Corporation.

Shares in Holcim Philippines closed Tuesday up 5 centavos or 0.92% to P5.50 apiece from last Friday’s finish of P5.45.—AOL, GMA News