Philippines: Holcim Philippines posted higher sales despite increased competition in 2016. Its revenue grew by 7.5% to US$801m due to both higher volumes and prices. Operating earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 14% to US$215m.
The company’s net income reached US$135m, which benefited from a one-time gain of US$52m from the revaluation of Holcim Philippines’ investment in an affiliate. Without the one-off item in 2015, profits were higher by 24% in 2016.
Holcim Philippines Chief Operating Officer Sapna Sood said, “Ensuring stable supply is critical in these times of high building activity. Last year, we demonstrated our commitment to keep the market supplied by raising our production capacity and leaning on our strong regional network. As a result, we showed our customers we are a reliable partner, which helped us compete, even with the entry of new players.”