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 fourth quarter (“4Q22”) and the full year (“2022”) ended December 31, 2022. These results have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are stated in nominal Peruvian Soles (S/).
4Q22 FINANCIAL AND OPERATIONAL HIGHLIGHTS:
(All comparisons are to 4Q21, unless otherwise stated)
- Revenues increased 1.7%, mainly due to an 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 7.7%, mainly due to a moderation in sales volume from the peak levels reached last year, as well as the slowdown related to some blocked roads during December.
- Consolidated EBITDA of S/121.0 million, a 14.5% decrease, mainly due to non-recurrent expenses. Despite this increase, this quarter’s EBITDA is similar to the one achieved in previous quarters.
- Consolidated EBITDA margin of 22.7%, a 4.3 percentage point decrease.
- Net income of S/ 38.9 million, a 24.6% decrease mainly due to decreased operating profit as mentioned above, as well as a slight increase in income tax expense.
- The Sustainability Yearbook 2023 - We are honored to have been included in the Yearbook by S&P, for the third consecutive year. This Yearbook incorporates companies that score in the top 15% of their industry globally and have a gap of less than 30% from the leader's Global ESG score.
2022 FINANCIAL AND OPERATIONAL HIGHLIGHTS:
(All comparisons are to 2021, unless otherwise stated)
- Revenues increased 9.2%, mainly due to the above-mentioned reasons.
- Sales volume of cement, concrete and precast decreased 5.3%, mainly due to the moderation in sales volume mentioned above.
- Consolidated EBITDA of S/ 493.9 million, an 8.8% increase, mainly due to increased revenues this year, as well as higher operating profit for the first nine months of the year since we were able to optimize our cost structure to improve profitability.
- Consolidated EBITDA margin of 23.3%, similar to 2021.
- Net income of S/ 176.8 million, a 15.4% increase mainly due to increased sales and operating profit as mentioned above.
For a full version of Cementos Pacasmayo’s Fourth Quarter 2022 Earnings Release, please visit https://www.cementospacasmayo.com.pe/inversionistas/reportes
CONFERENCE CALL INFORMATION:
Cementos Pacasmayo will host a conference call on Wednesday, February 15, 2023, to discuss these results at 09:30 a.m. Eastern and 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: 113189
There will also be a live Audio Webcast of the event at:
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 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.