Holcim Philippines continues strong performance in Q3

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  •     Holcim  Philippines  delivers  strong  performance  through  continued  operational  and  cost excellence
  •     Drive  to  lead  innovation  continues  with  launch  of  new  building  solutions  across  the country
  •     The Company is on track to achieve its sustainability commitments and  ambitions

Horia  Adrian,  President  and  CEO  of   Holcim  Philippines,  Inc.   “Our  continuing  focus  on operational efficiencies and cost management enabled us to drive performance despite market demand and inflationary challenges. We take pride in leading industry innovations with our new building  solutions  that  help  partners  build  better.  Finally,  we  made  significant  progress  in strengthening   sustainability   of   operations   with   organizational   realignments   and   project milestones that further improve our environmental performance and social impact. These make us  ready to  support  the continued  progress  of  the  country and grow our  business  as market conditions and building activities further improve.”

FINANCIAL PERFORMANCE

Holcim  Philippines’  Earnings  Before  Interest  and  Taxes  (Operating  EBIT)  from  January  to September  2021  grew  70%  year-on-year  to  Php  3.1  billion.  The  improved  performance  was driven  by  the  Company’s  continued  focus  on  operational  efficiency  and  cost  management across the business. Net Sales increased by 7% to Php 20.1 billion from the same period last year.  This  was  due  to  the  recovery  of  the  market  as  seen  in  the  improved  demand  for construction   materials   which   positively   impacted   the   Cement,   Aggregates,   and   Dry   Mix businesses. The Company’s Net Profit reached Php 2.3 billion, higher by 124% from last year.

In  Q3  2021,  the  Company  was  confronted  with  significant  cost  increases  of  fuel  and  power. Market  demand  was  also  impacted  by  inclement  weather  and  control  measures  against  the resurgence of  COVID-19.  Holcim  Philippines is sustaining  its focus on operational excellence and cost discipline. During this period, the Company recorded Operating EBIT and Net Sales of Php 865.2 million and Php 6.5 billion, respectively.

KEY DEVELOPMENTS

Holcim Philippines continued to advance sustainability and innovation to drive performance.

The Company appointed Zoe Sibala, former Vice President of Strategy to Senior Vice President of Sustainability, and expanded the role of Richard Cruz, Vice President of Health, Safety, and Security,  to  include  the  Environment  portfolio.  The  appointments  took  effect  on  August  15. Eliana  Nieto,  former  Chief  Financial  Officer  (CFO)  of  Holcim  Ecuador,  also  joined  Holcim Philippines as its new CFO on August 10.

On  September  2,  Holcim  Philippines  renewed  its  partnership  with  the  University  of  the Philippines   College   of   Engineering   for   an   elective   course   that   highlights   the   value   of sustainability and inclusivity in building for development.

On  September  30,  the  Company  inaugurated  new  storage  and  processing  facilities  in  the Bulacan Plant that further strengthens its position as the industry frontrunner in using alternative fuels and raw materials in cement production. These facilities raise the Company’s Geocycle unit’s capacity to store and shred materials such as qualified post-consumer and municipal solid wastes for conversion to alternative fuels through cement kiln co-processing.

Finally,  the  Company  introduced  in  the  third  quarter  the  Holcim  AAC  Block  Adhesive,  for laying  all  types  of  AAC  (autoclaved  aerated  concrete)  bricks  and  various  types  of  cement blocks.  Holcim  AAC Block  Adhesive is the third new building  solution that  Holcim  Philippines has  launched  in  2021  after  multipurpose  mortar  Holcim  Multifix  and  water-repellent  cement Holcim Aqua-X earlier this year.

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