Cementos Pacasmayo S.A.A. Announces Consolidated Results for First Quarter 2022

Rhea-AI Summary

Cementos Pacasmayo (NYSE: CPAC) reported a 13.0% increase in revenues for 1Q22, driven by higher prices of bagged cement amid inflationary pressures.

However, sales volume declined by 5.3% due to reduced sales from reconstruction projects. Despite this, March sales showed recovery.

Consolidated EBITDA rose to S/127.5 million, a 21.3% increase, alongside a 43.7% rise in net income to S/45.7 million. EBITDA margin improved to 24.3%.

Positive

• Revenues increased by 13.0% due to higher average cement prices.
• Consolidated EBITDA grew by 21.3% to S/127.5 million.
• Net income surged by 43.7% to S/45.7 million.

Negative

• Sales volume of cement and concrete decreased by 5.3%.

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 first quarter (“1Q22”) ended March 31, 2022. These results have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are stated in nominal Peruvian Soles (S/).

1Q22 FINANCIAL AND OPERATIONAL HIGHLIGHTS:

(All comparisons are to 1Q21, unless otherwise stated)

• Revenues increased 13.0%, mainly due to 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 5.3%, mainly due to the temporary decrease in sales to reconstruction related projects and self-construction. However, during March we have already seen recovery in sales.

• Consolidated EBITDA S/127.5 million, a 21.3% increase, mainly due to higher operating profit, since we were able to decrease costs by using less imported clinker.

• Consolidated EBITDA margin of 24.3%, a 1.7 percentage point increase

• Net income of S/45.7 million, a 43.7% increase mainly due to increased sales and operating profit as mentioned above.

For a full version of Cementos Pacasmayo’s First Quarter 2022 Earnings Release, please visit https://www.cementospacasmayo.com.pe/inversionistas/reportes.

CONFERENCE CALL INFORMATION:

Cementos Pacasmayo will host a conference call on Thursday, April 27, 2022, to discuss these results at 11:00 a.m. Eastern / 10:00 a.m. Lima Time.

To access the call, please dial:

(877) 545-0320 from within the U.S.

+1 (973) 528-0002 (From outside the U.S.)

Access code: 786014

There will also be a live Audio Webcast of the event at: https://www.webcaster4.com/Webcast/Page/1644/45188

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220427006211/en/

Cementos Pacasmayo S.A.A.

In Lima, Peru:

Manuel Ferreyros, CFO

Claudia Bustamante

Investor Relations Manager

+51-958699760

cbustamante@cpsaa.com.pe

Source: Cementos Pacasmayo S.A.A.

FAQ

What were Cementos Pacasmayo's revenue figures for 1Q22?

Cementos Pacasmayo reported a 13.0% increase in revenues for 1Q22.

How much did Cementos Pacasmayo's net income rise in 1Q22?

Net income surged by 43.7% to S/45.7 million in 1Q22.

What is the sales volume trend for Cementos Pacasmayo in 1Q22?

The sales volume of cement and concrete decreased by 5.3% in 1Q22.

When will Cementos Pacasmayo hold its conference call to discuss results?

Cementos Pacasmayo will hold its conference call on April 27, 2022.