Improved sales lift Holcim’s net income for Q2

HOLCIM Philippines, Inc. registered a P478.72-million attributable net income for the second quarter, up by 98.8% from P240.77 million a year ago, boosted by higher sales volume across its business segments.

“We are determined to further accelerate programs for decarbonization, circularity and digitalization to deliver better results and contribute to building progress in the country,” Horia Ciprian Adrian, president and chief executive officer of Holcim Philippines, said in a statement on Monday.

For the April-to-June period, the company posted P6.26 billion in consolidated revenues, a 15.3% increase compared to P5.43 billion a year prior, driven by higher sales volumes across its business segments.

The company said that its profit increase in the second quarter led to a 26.3% rise in its first semester attributable net income to P834.72 million from P661.05 million previously.

Its gross revenues for the January-to-June period recorded a 6% increase to P12.90 billion from P12.17 billion in the same period last year.

“Our focus on sustainability and innovation is continuing to pay off with more efficient operations and higher value offerings that are raising business performance,” Mr. Adrian said.

Higher energy prices were offset by its sustainability efforts such as fuel mix optimization, improved blended portfolio and alternative fuel usage, Holcim said.

The listed company also said it will continue to pursue its portfolio of low-carbon cements to accelerate its net-zero emission targets.

The Philippine Stock Exchange has suspended the trading of shares of the listed cement producer due to its noncompliance with the required public ownership under the regulator’s existing rules and guidelines. — Ashley Erika O. Jose