LIMA, Peru–(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 first quarter (“1Q24”). These results have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are stated in Soles (S/).
1Q24 FINANCIAL AND OPERATIONAL HIGHLIGHTS:
(All comparisons are to 1Q23, unless otherwise stated)
- Consolidated EBITDA of S/132.8 million, a 10.0% increase, mainly due to lower costs and operational efficiencies as we discontinued the use of imported clinker and used our new and more efficient kiln.
- Consolidated EBITDA margin of 27.9%, a 2.8 percentage point increase.
- Sales volume of cement, concrete and precast decreased 7.2%, mainly due to a contraction in demand due to a decrease in public and private investment, a high level of insecurity and a decrease in the self-construction segment explained by a negative effect on activities like fishing and agriculture, two of the most significant sources in our area of influence.
- Revenues decreased 0.7%, in line with the decrease in volumes mentioned above.
- Net income of S/ 49.5 million, a 13.8% increase mainly due to the operational efficiencies mentioned above.
For a full version of Cementos Pacasmayo’s First 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, April 30, 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.
Contacts
Cementos Pacasmayo S.A.A.
In Lima, Peru:
Manuel Ferreyros, CFO
Claudia Bustamante
Investor Relations Manager
+51-958699760
cbustamante@cpsaa.com.pe