Costly power cuts Holcim profit
Cement firm Holcim Philippines Inc. said its income in the first quarter fell 53 percent to P420.61 million from last year’s P909.34 million due to soaring energy costs.
the company said its revenues fell 1 percent to P6.73 billion from last year’s P6.8 billion.
Holcim said the surge in energy prices resulted in a higher cost of production and distribution in January to march.
“Our long-standing focus on cost and operational excellence provided us a solid foundation to weather the impact of unprecedented spikes in energy prices. Additionally, our thrust to deliver more innovative and differentiated building solutions allowed us to deliver better value to our customers,” Horia Adrian, the company’s president and CEO said.
“We are also committed to integrating sustainability in our business for a positive environmental and social impact.”
the company said it is ramping up customer engagements, product innovations, and service improvements to better capture business opportunities.
to manage the adverse impacts of energy inflation, Holcim said it is focused on operational efficiency across all aspects of the business. “the deployment of digital tools in the production process, optimization of raw materials and increasing use of alternative fuels and raw materials is helping cushion the cost inflation impact.”
Holcim also strengthened its ability to support partners in building better structures in the country with the recent accreditation of its Bulacan plant by the Department of Public Works and Highways as having a facility that can test the fitness of construction materials for government infrastructure projects. the facility passed an audit on its compliance with the department’s standards on laboratory competency, quality management system, customer reliability and products.
Such facility is the second for the leading building solutions provider that is certified by the agency for testing construction materials for state projects.
the first was the technical Services and Product Development laboratory in its Parañaque site in 2017.
Holcim Philippines’ cement plant in Davao City has also applied for such certification for its concrete and applications laboratory as a construction material testing facility for infrastructure projects of the government.
Aside from its plants’ material testing facilities, the firm also has mobile laboratories, specifically used in road projects at the countryside that can support customers on site.
these labs are deployed to project areas to conduct material testing of concrete, aggregates, and soil to help contractors maximize materials and ensure quality construction.