Cementos Pacasmayo S.A.A. Announces Consolidated Results for Third Quarter 2022
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 third quarter ("3Q22") and the nine months ("9M22") ended September 30, 2022. These results have been prepared in accordance with International Financial Reporting Standards ("IFRS") and are stated in nominal Peruvian Soles (S/).
3Q22 FINANCIAL AND OPERATIONAL HIGHLIGHTS:
(All comparisons are to 3Q21, unless otherwise stated)
- Revenues increased 9.1%, mainly due to increase in average prices of bagged cement, as inflationary pressures have affected our costs of raw materials and energy.
- Sales volume of cement, concrete and precast decreased 5.9%, mainly due to a moderation in sales volume from the peak levels reached last year. However, if we compare sales volumes to 2Q22, these increased 6.2%.
- Consolidated EBITDA of S/124.9 million, a 6.5% increase, mainly due to higher prices, as well as increased operating profit, since we were able to decrease costs by using less imported clinker. This is especially relevant since both of our main kilns in Piura and Pacasmayo were in planned preventive maintenance in this quarter.
- Consolidated EBITDA margin of 22.6%, a 0.5 percentage point decrease
- Net income of S/ 44.2 million, a 5.0% increase mainly due to increased sales and operating profit as mentioned above.
9M22 FINANCIAL AND OPERATIONAL HIGHLIGHTS:
(All comparisons are to 9M21, unless otherwise stated)
- Revenues increased 12.0%, mainly due to increase in average prices of bagged cement, as inflationary pressures have affected our costs of raw materials and energy.
- Sales volume of cement, concrete and precast decreased 4.4%, mainly due to a moderation in sales volume of bagged cement for self-construction as well as decreased sales for reconstruction-related projects.
- Consolidated EBITDA of S/372.9 million, a 19.4% increase, mainly due to higher operating profit, since we were able to decrease costs by using less imported clinker.
- Consolidated EBITDA margin of 23.6%, a 1.5 percentage point increase.
- Net income of S/ 137.9 million, a 35.7% increase mainly due to increased sales and operating profit as mentioned above.
For a full version of Cementos Pacasmayo's Third Quarter 2022 Earnings Release, please visit https://www.cementospacasmayo.com.pe/inversionistas/reportes
CONFERENCE CALL INFORMATION:
Cementos Pacasmayo will host a conference call on Thursday, October 27, 2022, to discuss these results at 11:00 a.m. Eastern/ 10:00am Lima Time.
To access the call, please dial:
(888)-506-0062 from within the U.S.
+1 (973) 528-0011 from outside the U.S.
Access code: 996674
There will also be a live Audio Webcast of the event at:
https://www.webcaster4.com/Webcast/Page/1644/46691
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 60 years of operating history, the Company produces, distributes and sells cement and cement-related materials, such as concrete blocks and ready-mix concrete. 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221026006085/en/