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 second quarter (“2Q19”) ended June 30, 2019. These results have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are stated in nominal Peruvian Soles (S/).
- Sales volume of cement, concrete and precast increased 11.8% mainly due to higher sales to the public sector, for El Niño reconstruction spending, as well as some infrastructure projects we started serving this quarter.
- Revenues increased 11.9% primarily due to the increase in sales volume described above, as well as an increase in average cement and concrete prices, which was offset by the decrease in quicklime sales.
- Net Income of S/ 32.2 million, a 37.0% increase mainly due to higher operating income.
- Consolidated EBITDA of S/ 94.3 million; an 11.3% increase, primarily due to increased sales
- Cement EBITDA margin of 29.2%, 1.1 percentage points lower, mainly due to higher-priced clinker used in April due to maintenance in Pacasmayo. EBITDA margin was over 30% for both May and June, and we expect margins to continue this recovery in the following months.
- Good Corporate Governance Index. Cementos Pacasmayo was included in the Lima Stock Exchange Good Corporate Governance Index (“BVL IBGC”) for tenth consecutive year.
6M19 Financial and Operational Highlights:
(All comparisons are to 6M18, unless otherwise stated)
- Sales volume of cement, concrete and precast increased 8.5%, mainly due to higher sales to the public sector, for El Niño reconstruction spending, as well as to the city of Iquitos, which we have started serving more aggressively this year.
- Revenues increased 5.3%, primarily due to the increase in sales volume described above, offset by lower quicklime sales.
- Net Income of S/ 62.3 million, a 17.1% increase mainly due to higher operating income.
- Consolidated EBITDA of S/ 187.9 million; a 5.0% increase, primarily due to increased sales
- Cement EBITDA margin of 29.6%, 0.5 percentage points lower, mainly due higher-priced clinker used in March and April due to maintenance in Pacasmayo.
CONFERENCE CALL INFORMATION:
Cementos Pacasmayo will host a conference call on Thursday, July 18 2019, to discuss these results at 11:30 a.m. Eastern Time and 10:30 a.m. Lima Time.
To access the call, please dial:
(844) 369-8770 (From within the U.S.)
+1 (862) 298-0840 (From outside the U.S.)
A replay of this call will be available through August 18, 2019
To obtain the replay, please call:
877-481-4010 from within the U.S.
+1-919-882-2331 from outside the U.S.
Replay ID: #49548
There will also be a live Audio Webcast of the event at: http://www.investornetwork.com/event/presentation/49548
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 61 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.
For more information, please visit www.cementospacasmayo.com.pe