Holcim said bottom line was hit by an “extraordinary surge in fuel and energy costs, which ballooned by 60 percent from the previous year.” Fuel and energy accounted for 64 percent of the company’s production inputs.
The company blunted the impact on margins by raising prices and reducing other fixed costs by 11 percent, the statement showed. “With our growing portfolio of high-performance building solutions and retail partners and strong sustainability mindset, we are well positioned for the future,” Adrian said.
“We are excited to continue growing the company to deliver value to our shareholders and support the country’s development,” he added. Holcim Philippines is one of the country’s largest cement producers with a cement production capacity of 10 million metric tons per year and clinker production capacity of 5.2 million metric tons per year. Together with its subsidiaries, it owns and operates four cement production facilities, one cement grinding mill, five ports and multiple storage and distribution points across the country.