Cement products manufacturer Holcim Philippines Inc.
saw its 2022 net income fall to P943.29 million from P2.57 billion a year earlier, a result the firm attributed to higher fuel and energy costs amid persistent headwinds.
Holcim President and CEO Horia Adrian credited the company and its employees for displaying resilience that allowed the company to deliver a positive financial performance.'Alongside a strong sales rebound in the second half and expansion of our customer base, we accelerated the decarbonization of operations driven by higher usage of alternative fuels and raw materials and production of blended cements,' he said.
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