Cement firm Holcim Philippines Inc. said its attributable income slid 63 percent last year to P941.77 million from 2021’s P2.56 billion on softer demand in the first half of 2022. Know more:
CEMENT firm Holcim Philippines Inc. said its attributable income slid 63 percent last year to P941.77 million from 2021’s P2.56 billion on softer demand in the first half of 2022.The company said it gained momentum in the second half with revenues increasing 9 percent year-on-year to P14.4 billion as sales steadily grew in the third and fourth quarters.
“In the face of extraordinary challenges, our company and people displayed tremendous resilience that enabled us to deliver positive financial performance and contribute to building progress in the country,” Horia Adrian, the company’s president and CEO, said. For the fourth quarter alone, the company’s income rose 72 percent to P455.17 million from the previous year’s P264.76 million.
Holcim said it was able to reduce carbon emissions per ton of cement by 7 percent from 2021 in line with its de-carbonization drive, which also delivered savings of around P1.4 billion in production costs. The effort was driven by efficiency initiatives using digital technologies and increased production of blended cement.
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