Cementos Pacasmayo S.A.A. Announces Consolidated Results for Second Quarter 2024
July 22 2024 - 9:30PM
Business Wire
Cementos Pacasmayo S.A.A. and subsidiaries (NYSE: CPAC; BVL:
CPACASC1) (“the Company” or “Pacasmayo”), a leading cement company
serving the Peruvian construction industry, announced today its
consolidated results for the second quarter (“2Q24”) and the first
six months of the year (“6M24”). These results have been prepared
in accordance with International Financial Reporting Standards
(“IFRS”) and are stated in Soles (S/).
2Q24 FINANCIAL AND OPERATIONAL HIGHLIGHTS:
(All comparisons are to 2Q23, unless otherwise stated)
- Revenues increased by 3.4%, mainly due to sales mix, as
concrete and precast sales increased because of sales for the Piura
airport project and the recovery of public sector investment.
- Sales volume of cement, concrete and precast decreased
by 5.8%, mainly due to a contraction in bagged cement demand.
- Consolidated EBITDA increased 6.1%, reaching S/119.5
million, mainly due to the above-mentioned revenue increase, as
well as lower costs and operational efficiencies derived from our
new kiln in Pacasmayo.
- Consolidated EBITDA margin was 26.1%, a 0.7 percentage
point increase.
- Net income was S/ 36.8 million, a 15.4% decrease, mainly
due to a one-off exchange rate gain in 2Q23 because of the
completion of the Pacasmayo plant improvement project.
6M24 FINANCIAL AND OPERATIONAL HIGHLIGHTS:
(All comparisons are to 6M23, unless otherwise stated)
- Revenues increased by 1.3%, mainly due to the increased
sales of concrete and precast mentioned above.
- Sales volume of cement, concrete and precast decreased
by 6.5%, mainly due to decreased cement demand from all
segments.
- Consolidated EBITDA increased 8.1%, reaching S/252.3
million, mainly due to lower costs and operational efficiencies by
using our new and more efficient kiln and discontinuing the use of
imported clinker.
- Consolidated EBITDA margin was 27.0%, a 1.7 percentage
point increase.
- Net income was S/ 86.3 million similar to the previous
year.
For a full version of Cementos Pacasmayo’s Second Quarter
2024 Earnings Release, please visit
https://www.cementospacasmayo.com.pe/inversionistas/reportes
CONFERENCE CALL
INFORMATION:
Cementos Pacasmayo will host a conference call on Tuesday,
July 23, 2024, to discuss these results at 9:30 a.m. Lima
Time and 10:30 am Eastern Time.
To access the call, please dial:
+1 (718) 866-4614 from within the U.S.
Access code: 505256
There will also be a live Audio Webcast of the event at:
https://mm.closir.com/slides?id=505256
You can also find additional dial-in numbers depending on your
current location in the above link.
About Cementos Pacasmayo S.A.A.
Cementos Pacasmayo S.A.A. is a cement company, located in the
Northern region of Peru. In February 2012, the Company’s shares
were listed on The New York Stock Exchange - Euronext under the
ticker symbol "CPAC". With more than 65 years of operating history,
the Company produces, distributes and sells cement and
cement-related materials, such ready-mix concrete and precast
materials. Pacasmayo’s products are primarily used in construction,
which has been one of the fastest-growing segments of the Peruvian
economy in recent years. The Company also produces and sells
quicklime for use in mining operations.
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version on businesswire.com: https://www.businesswire.com/news/home/20240722150671/en/
Cementos Pacasmayo S.A.A. In Lima, Peru: Manuel Ferreyros, CFO
Claudia Bustamante Investor Relations Manager +51-958699760
cbustamante@cpsaa.com.pe
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