Published February 15, 2021 11:43am Listed cement producer Cemex Holdings Philippines Inc. (CHP) saw a double-digit drop in its net income in 2020, as the coronavirus disease 2019 (COVID-19) pandemic weighed on business operations during the year. CHP on Monday said its net income fell to P985 million last year from P1.3 billion from 2019 to reflect a 24.23% drop, as consolidated net sales dropped by 16% while earnings before interest, taxes, depreciation, and amortization (EBITDA) declined 1% to P4.2 billion. "Our results in 2020 were made possible by the effort and dedication of our employees, despite the unexpectedly challenging and extraordinary year. We remain cautious on the road ahead as headwinds and uncertainty remain," Ignacio Mijares, president and chief executive officer at CHP, said.