16 MARCH 2018 – Eagle Cement Corporation (EAGLE) continues its strong showing in the local cement industry as it posts ₽4.26 billion net profit for 2017, a 4% increase from the ₽4.11 billion it gained in 2016. Excluding IPO expenses, net profit grew by 5% to ₽4.33 billion in 2017.
EAGLE attributes its performance to higher sales volumes as the company reached ₽14.87 billion in net sales in 2017, a 12% increase year on year.
“We have continued to beat our operational targets in terms of volume growth and cost efficiencies. Our efforts in upgrading and debottlenecking of our existing production lines allowed us to keep healthy margins despite the challenging market environment,” EAGLE President and Chief Executive Officer Paul Ang said.
In line with the infrastructure push from both public and private sectors, EAGLE is currently expanding its capacity with its third production line (Line 3) in Bulacan bound to start operations this year. Line 3 will expand EAGLE’s annual production capacity to 7.1 million metric tons, opening up to new markets in Region I,MIMAROPA and Bicol in Southern Luzon, as well as reach Western Visayas.
In November 2017, EAGLE broke ground on its fourth production line (Line 4) in Malabuyoc, Cebu, marking the firm’s nationwide reach. The project is on track for its target completion in 2020, and will add another two million metric tons to EAGLE’s annual production capacity. Line 4 will include a manufacturing plant and a marine terminal to serve Negros, Cebu, Bohol, Masbate, Misamis Oriental, Davao, Zamboanga, and South Cotabato.
Founded in 1995 and commencing commercial operations in 2010, Eagle Cement Corporation (EAGLE) operates the newest and single largest cement manufacturing plant in the Philippines. EAGLE is engaged in the business of manufacturing, marketing, sale and distribution of cement, using the brands Eagle Cement Advance Type 1P, Eagle Cement Exceed Type 1P, and Eagle Cement Strongcem Type 1.