Cementos Pacasmayo S.A.A. Announces Consolidated Results for Third Quarter 2021
27 Outubro 2021 - 10:40AM
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 (“3Q21”) and the nine
months (“9M21”) ended September 30, 2021. These results have been
prepared in accordance with International Financial Reporting
Standards (“IFRS”) and are stated in nominal Peruvian Soles
(S/).
3Q21 Financial and Operational Highlights:
(All comparisons are to 3Q20, unless otherwise stated)
- Sales volume of cement, concrete and precast increased
14.4%, continuing the positive trend from previous quarters. Bagged
cement continues to be the biggest driver for growth, but concrete
volumes performed very well this quarter as well.
- Revenues increased 24.5% primarily due to the increase
in the sales volume of cement, concrete and precast, and to an
increase in cement and concrete prices, in line with cost
inflation.
- Consolidated EBITDA of S/ 117.3 million, a slight
decrease, mainly due to the use of imported clinker needed to
sustain the record levels of cement sales.
- Consolidated EBITDA margin of 23.1% a 6.5 percentage
points decrease mainly due to the use of imported clinker mentioned
above. If we compare to 2Q21, since we were already using imported
clinker then, there is an improvement of 2.7 percentage
points.
- Net income of S/ 42.1 million, a 6.9% decrease mainly
due to lower operating income because of the cost increases
mentioned above. However, if we compare to 2Q21, there is a
significant improvement of 52%, mainly due to higher revenues and
operating profit.
- Pacasmayo plant expansion – due to the significant
increase in demand, and In line with our client centered vision,
the Company has decided to invest US$ 70 million to produce an
additional 600 thousand MT of cement per year in its Pacasmayo
plant. This once more ratifies our commitment and confidence in the
development of the country.
9M21 Financial and Operational Highlights:
(All comparisons are to 9M20, unless otherwise stated)
- Sales volume of cement, concrete and precast increased
49% mainly due to a significant recovery in demand after the halt
in production and commercialization during 2Q20.
- Revenues increased 72.1%, primarily due the increased
demand during 2021 and the halt in production during 2020 mentioned
above.
- Consolidated EBITDA of S/ 312.4 million; a 66.9%
increase, primarily due to increased revenues during 2021, and
higher costs due to the halt in production during 2020.
- Consolidated EBITDA margin of 22.1%, 0.7 percentage
points lower, mainly due to the use of imported clinker because of
the significant increase in demand.
- Net income of S/ 101.6 million, an increase over 100%
mainly due to higher sales and a low comparative base because of a
net loss during 2Q20 for the above-mentioned halt in production and
commercialization.
For a full version of Cementos Pacasmayo’s Second Quarter
2021 Earnings Release, please visit
http://cementospacasmayo.com.pe.
CONFERENCE CALL
INFORMATION:
Cementos Pacasmayo will host a conference call on Wednesday,
October 27, 2021, to discuss these results at 10:30 a.m.
Eastern Time / 09:30 a.m. 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.)
There will also be a live Audio Webcast of the event at:
https://www.webcaster4.com/Webcast/Page/1644/43148
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 60 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/20211027005711/en/
Cementos Pacasmayo S.A.A. In Lima, Peru: Manuel Ferreyros, CFO
Claudia Bustamante Investor Relations Manager +51-958699760
cbustamante@cpsaa.com.pe
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