Listed cement manufacturer Holcim Philippines Inc. is looking forward to another banner year in 2014 after closing 2013 with record profits and revenues.
Eduardo Sahagun, Holcim Philippines chief executive officer, told reporters on Thursday that the company is “very optimistic about the year” given the buoyant outlook for the cement industry, among other things.
“We expect 2014 to be again filled with opportunities for our business,” he added.
For the full-year 2013, the net income of Holcim Philippines rose by 26 percent to a new high of P4.55 billion compared to the P3.62 billion the company recorded in the same period in 2012.
The profit growth, based on the Holcim’s financial report, was backed by the company’s effort in cost management.
Revenues also grew year-on-year by 6 percent to a record P28.9 billion from 2012’s P27.2 billion, helped by good price management and steady volumes from the continued growth of cement demand.
According to the company, the market was further boosted by the government’s heavy investments on infrastructure and the private sector’s commercial, residential and industrial projects.
“Our company benefited from the good business environment, which has allowed the construction boom to persist and cement demand to thrive,” Sahagun said.
“Credit should also go to our people, who did their part in attaining this record performance by focusing on areas within our control such as efficiency and costs,” he added.
For 2014, Holcim Philippines is allocating as much as P1.3 billion for capital spending.
“We’re putting quite a lot of money to improve our efficiency . . . I hope we will grow with the industry too or even better,” Sahagun further said.
In 2013, Holcim Philippines finished several major projects like the capacity upgrades for its La Union and Misamis Oriental plants, and the reactivation of its idle grinding facility in Batangas.