Cementos Pacasmayo S.A.A. Announces Consolidated Results for Third Quarter 2020
29 Outubro 2020 - 7:57AM
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 third quarter (“3Q20”) and the nine
months (“9M20”) ended September 30, 2020. These results have been
prepared in accordance with International Financial Reporting
Standards (“IFRS”) and are stated in nominal Peruvian Soles
(S/).
3Q20 Financial and Operational Highlights:
(All comparisons are to 3Q19, unless otherwise stated)
- Sales volume of cement, concrete and precast increased
14.2%, reaching historical record levels, mainly due to a sharp
recovery in sales of cement, mostly of bagged cement to the
self-construction segment, as well as some cement for
reconstruction-related projects towards the end of the
quarter.
- Revenues increased 6.3% primarily due to the increase in
the sales volume of cement, partially offset by lower sales of
concrete
- Consolidated EBITDA of S/ 120.6 million, an 8.2%
increase and the highest level in the Company’s history, mainly due
to increased sales volume, as well as sustained savings in
expenses.
- Consolidated EBITDA margin of 29.6% a 0.5 percentage
point increase.
- Net income of S/ 45.2 million, a 12.4% increase mainly
due to increased sales and higher operating income.
- Good Corporate Governance Index. Cementos Pacasmayo was
included in the Lima Stock Exchange Good Corporate Governance Index
(“BVL IBGC”). We have been part of the index every year since 2009,
demonstrating our continued commitment with good corporate
governance practices.
9M20 Financial and Operational Highlights:
(All comparisons are to 9M19, unless otherwise stated)
- Sales volume of cement, concrete and precast decreased
15.4% mainly due to the halt in production and commercialization
during 2Q20. However, national market share for the last twelve
months increased 1.5 percentage points compared to 2019, reaching
24%, one of the highest levels in our history. We expect the
positive trend that began during 3Q20 to continue the following
months, helping to offset this decrease.
- Revenues decreased 19.4%, primarily due to the halt in
commercialization mentioned above.
- Consolidated EBITDA of S/ 187.2 million; a 37.5%
decrease, primarily due to the decreased revenues mentioned above,
as well as fixed costs derived from the stop in production during
2Q20. The continued recovery should help to partially offset this
decrease by the end of the year.
- Consolidated EBITDA margin of 22.8%, 6.6 percentage
points lower, mainly due to the decrease in operating income during
2Q20.
- Net income of S/ 10.4 million, an 89.9% decrease mainly
due to decreased operating profit during 2Q20, despite the recovery
during this quarter.
For a full version of Cementos Pacasmayo’s Third Quarter 2020
Earnings Release, please visit
https://www.cementospacasmayo.com.pe/Aplicaciones/Web/webpacasmayo.nsf/xsp_reportes.xsp.
CONFERENCE CALL
INFORMATION:
Cementos Pacasmayo will host a conference call on Thursday,
October 29, 2020, to discuss these results at 11:00 a.m.
Eastern Time / 10:00 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.)
There will also be a live Audio Webcast of the event at:
https://www.webcaster4.com/Webcast/Page/1644/37964
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 62 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20201029005600/en/
Cementos Pacasmayo S.A.A. In Lima, Peru: Manuel Ferreyros, CFO
Claudia Bustamante Investor Relations Manager +511-317-6000 Ext.
2165 cbustamante@cpsaa.com.pe
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