Holcim Philippines posted a net earnings of PHP2.03bn, down 47.27% from the PHP3.85bn it earned in 2010 as weaker cement demand and higher input costs impacted revenue but said it is cautiously optimistic for the year ahead.
The company said cement consumption fell after a very strong market in election year 2010. Simultaneously, continuous rises in coal and electricity hiked the company’s energy costs per ton by 14 per cent.
“The environment in 2011 was certainly tough, but I believe we were able to demonstrate our resilience as an organization by responding early to market challenges and focusing on areas within our control,” Roland van Wijnen, Holcim chief operating officer, said in a press statement released on Friday.
He added that the company managed too maintain its market share in the range of 33-35 per cent and put various initiatives in place that have “hlped us improve operational efficiencies and effectively manage our costs.”
Turning to the outlook for 2012, Van Wijnen is cautiously optimistic due to the government’s commitment to frontload infrastructure spending and roll out various partnerships with the private sector.
