LIMA, Peru--(BUSINESS WIRE)--
Cementos Pacasmayo S.A.A. and subsidiaries (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 (“3Q19”) ended September 30, 2019. These results have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are stated in nominal Peruvian Soles (S/).
3Q19 Financial and Operational Highlights:
(All comparisons are to 3Q18, unless otherwise stated)
- Sales volume of cement, concrete and precast increased 17.6% mainly due to higher sales to the public sector, for El Niño reconstruction spending, some medium-sized private projects, as well as the self-construction segment.
- Revenues increased 20.2% primarily due to the increase in sales volume described above. Concrete sales reached all-time records during this period, almost doubling sales from 3Q18.
- Net Income of S/ 40.2 million, a 20.4% increase, in line with higher sales.
- Consolidated EBITDA of S/ 111.5 million; a 9.9% increase, primarily due to increased sales.
- Cement EBITDA margin of 29.1%, a 2.8 percentage points decrease, mainly due to temporary cost increases as well as more structural changes in our sales mix.
- Dow Jones Sustainability MILA Pacific Alliance Index. Cementos Pacasmayo was included in the 2019 Dow Jones Sustainability MILA Index Pacific Alliance Index. This Index is made up of those companies that demonstrate superior performance among their peers under social, environmental and economic criteria.
9M19 Financial and Operational Highlights:
(All comparisons are to 9M18, unless otherwise stated)
- 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 in the city of Iquitos, which we have started serving more aggressively this year.
- Revenues increased 10.5%, primarily due to the increase in sales volume described above, offset slightly by lower quicklime sales.
- Net Income of S/ 102.5 million, a 18.2% increase mainly due to higher operating income.
- Consolidated EBITDA of S/ 299.4 million; a 6.7% increase, primarily due to increased sales.
- Cement EBITDA margin of 29.4%, a 1.4 percentage points decrease, mainly due to temporary cost increases, the changes in our sales mix and use of imported clinker during the first half of the year.
CONFERENCE CALL INFORMATION:
Cementos Pacasmayo will host a conference call on Thursday, October 24 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 November 24, 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: #53815
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 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.