Press Releases
December 23, 2014
RHI's FY 2014 NIAT: PhP615M, 30% up on higher ethanol sales
SUGAR Group Roxas Holdings, Inc. (PSEi: ROX) posted PhP615 million in net income after tax (NIAT) for fiscal year 2014 ending September 30, 2014, up 30% from last year’s PhP473 million.
Chairman Pedro E. Roxas said the increase in the Group’s NIAT was driven mainly by higher sales of ethanol.
“Our ethanol sales climbed PhP1.5 billion on the back of higher ethanol production to 32 million litres from 14 million litres last year,” Mr. Roxas said.
President and CEO Renato C. Valencia said the Group’s sugar business margins dropped by 70% owing to operational challenges.
But Mr Valencia noted that major investments have been made since last year to improve its facilities and ensure better recoveries and efficiencies in preparation for the challeges that come with the drop in tariffs on sugar to 5% in the next few weeks.
“The drop in our total bank debtsby PhP2 billion for FY2014 helped boost our NIAT,” Mr. Valencia added.
Roxas Holdings’ revenues rose 37% to PhP8.3 billion from PhP6 billion last year. However, its EBITDA slid 5.31% to PhP1.69 billion.
Meanwhile, the Company’s Board declared last Dec. 5 the second tranche of the Group’s annual 35% dividend payment amounting PhP0.12 per share on January 15, 2015 for those on record as of December 22, 2014.
Roxas Holdings, Inc. (RHI), a bio-sugar and bio-energy company, is the largest integrated sugar business in the Philippines. It manages sugar miller/refiner Central Azucarera Don Pedro, Inc. in Nasugbu, Batangas; San Carlos Bioenergy, Inc. in San Carlos, Negros Occidental; and RHI Agri-business Development Corporation.
RHI is listed in the Philippine Stock Exchange (PSEi: ROX). Further information can be obtained by visiting the web at www.roxasholdings.com.ph
RHI is listed in the Philippine Stock Exchange (PSEi: ROX). Further information can be obtained by visiting the web at www.roxasholdings.com.ph