Holcim Philippines posts 41% net income advance in 2019

Holcim Philippines achieved a revenue of PHP33.5bn (US$660.4m) in 2019 despite a slow first half in terms of construction activity.

However, the company’s operating EBITDA increased 36.7 per cent YoY to PHP6.7bn in 2019 from PHP4.9bn in 2018 as the company benefitted from initiatives to raise efficiencies and improve costs across the board. The rise was further supported by a more favourable product mix and the stable contribution of its aggregates business.

The company’s full-year net income advanced by 41 per cent YoY to PHP3.6bn in 2019.

In the 4Q revenues rose by 17.4 per cent YoY to PHP9.8bn from PHP8.4bn in the year-ago period. The company’s operating EBITDA surged by 66.9 per cent to PHP2.5bn, while net profits more than doubled to PHP1.7bn.