"Furthermore, the company’s EBITD, or earnings before interest, taxes, depreciation and amortization, rose to a record level of P1.5 billion,” Mr. Roxas said.
Mr. Roxas declared, "RHI has definitely turned around, thanks to our focus on cost containment and proper margin management and the continuing support of our major banks.”
RHI President and CEO Renato C. Valencia explained, however, that the company expects its net income to dip slightly by fiscal yearend due to the regular, major off-season repairs in the coming months in preparation for the coming crop year.
"We are preparing for the future which looks promising although fraught with a lot of challenges,” Mr. Valencia added.
Mr. Valencia opined, "Sugar is a basic commodity that will continue to grow with population, with sia accounting for 60% of the world’s total. sia’s major sugar producers, the Philippines included, are therefore well positioned. On the other hand, sugar is a commodity, characterized by high volumes, low and volatile prices and thin margins. Thus, only sugar businesses with the volumes, low-cost operations, broad and competitive product portfolio, and innovative management will survive and flourish.”
"RHI is now laying the foundation to become a world-class sugar business with aspiration for regional presence. Thus, we re-structured our business model to have trading, sugar milling, refinery, and alcohol operations as distinct core business centers. In addition, we hired a reputable foreign expert to do a technical audit of our plants in order to achieve efficiencies,” he said.
He also said RHI is shifting to cloud-based computing for its ERP, or enterprise resource planning, for real time information and decision making and to ensure proper controls and audit trails.
"Moreover, we are centralizing the bidding of our major purchases of goods and services for transparency, to broaden our supplier base and reduce our material, parts and services costs,” he concluded.
Media Contact:
Celest Jovenir
Tel: +632 810 8901 to 06 ext. 1811
Email: cmjovenir.rhi@cadp.com.ph
Website: www.rhi-cadp.com.ph
- https://www.affordablecebu.com/
