Holcim Philippines, Inc. said it recorded “excellent performance” in the first quarter of 2021 generating P1.3 billion earnings due to sustained cost management and operational improvements.
Holcim also reported net income jumped by 81% to P909 million.
Horia Adrian, President and CEO of Holcim Philippines, Inc. said: “We delivered an excellent performance in the first quarter due to our sustained focus on Health, Cost, and Cash. Commercial excellence, operational efficiency and cost discipline were key drivers to our stronger profitability.”
“Our Company is committed to contributing to a healthy and sustainable growth of the construction industry in the Philippines. We continue to stay focused on our cost, operational discipline and providing customers with innovative products and solutions.
“To further protect our people and business we are implementing a voluntary COVID-19 vaccination program by the third quarter. This will further bolster our resilience and help us sustain robust performance,” according to Adrian.
With the construction activity recovering at a slower pace, revenues declined 6% year-on-year to P6.8 billion. Excellent EBIT results also translated to stronger cash generation, which more than doubled to P827.9 million in Q1 2021 from P409.1 million last year, Holcim Philippines noted.
It said the company is well prepared to address the challenges ahead by focusing on strong operational, cost discipline and building on innovation and digital solutions to deliver sustainable business results.
COVID-19 vax for employees
Holcim Philippines said it is set to offer COVID-19 vaccines to employees and their dependents in the third quarter of 2021.
The Company’s adherence to high standards of health and safety, quality, and environment management was also validated by certification body TUV Rheinland.
In March, Holcim Philippines’ Bulacan Plant earned an ISO 45001:2018 certificate for Occupational Health and Safety Management System. Moreover, TUV Rheinland recertified the Bulacan Plant for ISO 9001:2015 (Quality Management System) and ISO 14001:2015 (Environmental Management
System).
Holcim Aqua X, Holcim Multifix
Holcim Philippines has recently introduced the country’s first ever water repellent cement, Holcim Aqua X. The latest product is designed to protect structures from damage and deterioration caused by excess moisture.
This follows the launch of Holcim Multifix, an easy-to-use and multipurpose mortar product to improve the quality of walls, floors, and tile installations in buildings. These new products are part of Holcim Philippines’ thrust to produce new building solutions to improve performance and help partners build better.
The Company also continues to advance in the digitalization of its business with a remarkable growth in transactions over customer portal Easybuild. Around 80% of all cement orders in Q1
2021 are now made through Easybuild.
Payments over the platform have also ballooned more than three times from the previous year. The stronger utilization of Easybuild was driven by enhancements to the platform that make it easier for customers to get updates, track orders, complete transactions, and share feedback with Holcim Philippines.
Holcim Philippines has also participated in government and private sector roundtable discussions on sustainability to raise awareness on its commitments and achievements on Climate Action and Circular Economy.
In March, Holcim Philippines shared its contributions to addressing the country’s plastic waste management challenge through co-processing operations in a webinar by the Department of Trade and Industry. The company also shared co-processing’s potential to reduce the carbon footprint of cement manufacturers in a Department of
Environment and Natural Resources forum on climate change.