Cementos Pacasmayo S.A.A. Announces Consolidated Results for Third Quarter 2024
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 ("3Q24") and the nine months of the year ("9M24"). These results have been prepared in accordance with International Financial Reporting Standards ("IFRS") and are stated in Peruvian Soles (S/).
3Q24 FINANCIAL AND OPERATIONAL HIGHLIGHTS:
(All comparisons are to 3Q23, unless otherwise stated)
- Consolidated EBITDA of S/154.6 million, a 19.9% increase, mainly due to operational efficiencies related to our new kiln and more favorable raw material costs.
- Consolidated EBITDA margin of 29.9%, a 5.0 percentage point increase, mainly due to the above-mentioned operational efficiencies.
- Revenues increased 0.2%, 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 4.4%, mainly due to a decrease in bagged cement demand. However, sales volume increased 16.2% quarter-over-quarter, demonstrating a positive trend.
- Net income of S/ 62.5 million, a 35.9% increase mainly due to the above-mentioned reasons.
- MERCO - for nine consecutive years we continue to lead the cement sector and for the second year, we are part of the Top 10 list of Merco´s business and leadership ranking.
9M24 FINANCIAL AND OPERATIONAL HIGHLIGHTS:
(All comparisons are to 9M23, unless otherwise stated)
- Consolidated EBITDA of S/ 406.7 million, a 12.3% increase, mainly due to the operational efficiency derived from our new kiln in Pacasmayo and more favorable costs of raw materials.
- Consolidated EBITDA margin of 28.0%, a 2.8 percentage point increase, mainly due to above-mentioned operational efficiencies.
- Revenues increased 0.9%, mainly due to sales mix as mentioned above.
- Sales volume of cement, concrete and precast decreased 5.8%, mainly due to the decrease in cement demand mentioned above.
- Net income of S/ 148.8 million, a 11.9% increase.
For a full version of Cementos Pacasmayo's Third 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, October 29, 2024, to discuss these results at 11:00 a.m. Lima Time and 12:00 p.m. 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 as 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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