HOLCIM Philippines, Inc. on Tuesday reported that its net profit in 2021 was up 24.2% to P2.6 billion even with the “market pressures” it faced last year.

“Despite market pressures brought by the pandemic, weather disturbances that impacted the continuity of construction activities, and surges in energy and fuel prices, our company was able to deliver strong profit growth in 2021 from 2020,” Horia Adrian, president and chief executive officer of Holcim Philippines, said in a statement.

Operating earnings before interest and taxes grew by 29.3% year on year to P3.6 billion due to the company’s “sustained focus on operational efficiency and cost management.”

Net sales rose by 3.6% to P26.9 billion on improved volumes and prices given the modest recovery of construction activity.

In the fourth quarter of 2021, operating earnings before interest and taxes fell 49% to P481.3 million from P943.4 million while net sales dropped 5.6% to P6.8 billion from P7.2 billion, due to softer market demand and higher costs of energy and fuel from external developments.

“We are excited to further raise performance and deliver more positive impact through strategies and initiatives anchored on cost mindfulness, operational excellence, innovation, and sustainability. These are the foundations that enable us to continue growing profitably and contributing to the country’s development with our innovative building solutions and sustainability programs,” Mr. Adrian said.

Holcim Philippines said it is “well positioned to capture market opportunities through driving innovation on products and solutions.”

The building solution company said it is ramping up sustainability initiatives to “further improve business performance and make operations more respectful to the environment and beneficial to society.”

It launched Holcim Aqua X, a water-repellent cement that protects structures against excess moisture.

In November, the company launched Holcim ECOPlanet, a “green” general purpose blended cement ideal for structural applications that lowers the carbon footprint of buildings. It also has 30% lower carbon footprint than ordinary Portland cement.

The company also signed an energy purchase agreement that will make Holcim Philippines the first cement manufacturer in the country to be solar-powered.

At the stock exchange on Tuesday, Holcim Philippines shares went up by 1.10% or P0.06 to close at P5.51 apiece. — Luisa Maria Jacinta C. Jocson