Press Materials

 

Press Releases


December 12, 2012

Roxas Holdings hits record P667M Net lncome for FY 2012

Listed sugar conglomerate Roxas Holdings, lnc. (RHl) reported today a net income after tax of P667 million for fiscal year 2012 ending September 30, its highest ever in its 85-year history.
 
The Group bannered the major turnaround, especially after suffering consecutive net losses of P765 million for three months ending September 30, 2011 (its new fiscal cut-off) andP742 million for 12 months ending June 3O, 2011.
 
RHI's EBITDA (Earnings Before lnterest, Taxes, Depreciation and Amortization) also reached a record high of
P1.6 billion, topping the P1 billion EBITDA in 2010.
 
RHI Chairman Pedro E. Roxas attributed the turnaround to the new Management's focus on improving sugar sales margins and containing production and operating costs. He also said the Group is planning major strategic
measures to prepare the company for increased global competition due to reduction in tariff of sugar imports from 48% in 2010 to 5% in 2015.
 
President and CEO Renato C. Valencia explained that RHI’s revenues for the year dropped slightly to P7-7 billion from P7.9 billion a year ago due to relatively higher sugar prices at the time. The Group's gross profit however, jumped to P1.7 billion compared to only P226 million a year ago.
 
The Company's Board of Directors, meanwhile, approved today a cash dividend of P0.04 per share with record date of December 28, 2012 and payment date of January 15, 2013.


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; sugar miller Central Azucarera de la Carlota, Inc.; ethanol producers Roxol Bioenergy Corporation in La Carlota, Negros Occidental and San Carlos Bioenergy, Inc. in San Carlos, Negros Occidental; and RHI Agri-business Development Corporation. It also holds 45% of affiliate Hawaiian-Philippine Company in Silay, Negros Occidental.

RHI is listed on the Philippine Stock Exchange (PSEi: ROX). Further information can be obtained by visiting the web at www.roxasholdings.com.ph