Cementos Pacasmayo S.A.A. Announces Consolidated Results for Fourth Quarter 2021

Rhea-AI Summary

Cementos Pacasmayo S.A.A (NYSE: CPAC) announced its 4Q21 and 2021 consolidated results, showing a 10.4% increase in revenues driven by higher cement prices despite a 6.2% decline in sales volume. Consolidated EBITDA rose by 10.5% to S/ 141.5 million, maintaining a 27% EBITDA margin. Net income increased by 8.6% to S/ 51.6 million. For the full year, revenues grew by 49.5% and net income surged 164.5%, reflecting a strong recovery from 2020's downturn. The company also received recognition in the Sustainability Yearbook 2022.

Positive

• Revenues increased by 10.4% in 4Q21, driven by higher prices.
• Consolidated EBITDA rose by 10.5% to S/ 141.5 million.
• Net income increased by 8.6% to S/ 51.6 million, aided by lower expenses.
• 2021 net income surged by 164.5% due to strong recovery from previous year.

Negative

• Sales volume declined by 6.2% in 4Q21 due to high comparison base.
• Consolidated EBITDA margin decreased by 0.9 percentage points for the year.

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 (“4Q21”) and the year (2021) ended December 31, 2021. These results have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are stated in nominal Peruvian Soles (S/).

4Q21 Financial and Operational Highlights:

(All comparisons are to 4Q20, unless otherwise stated)

• Sales volume of cement, concrete and precast decreased 6.2%, mainly due to very high comparative basis from 4Q20, as well as moderation of record demand levels experienced during this year.

• Revenues increased 10.4% primarily an increase in cement and concrete prices, in line with cost inflation, as well as a change in sales mix, favoring higher priced cement and concrete.

• Consolidated EBITDA of S/ 141.5 million, a 10.5% increase, in line with increased revenues.

• Consolidated EBITDA margin of 27%, similar to 4Q20.

• Net income of S/ 51.6 million, an 8.6% increase mainly due higher revenues, as well as to lower administrative expenses.

• The Sustainability Yearbook 2022 – We are honored to have been included in the Yearbook by S&P, for the second 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.

2021 Financial and Operational Highlights:

(All comparisons are to 2020, unless otherwise stated)

• Sales volume of cement, concrete and precast increased 40.4% mainly due to a significant recovery in demand after the halt in production and commercialization during 2Q20.

• Revenuesincreased 49.5%, primarily due the increased demand and prices during 2021 and the halt in production during 2020 mentioned above.

• Consolidated EBITDA of S/ 453.9 million; a 44% increase, primarily due to increased revenues during 2021.

• Consolidated EBITDA margin of 23.4%, 0.9 percentage points lower, mainly due to the use of imported clinker because of the significant increase in demand.

• Net income of S/ 153.2 million, an increase of 164.5% 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 Fourth Quarter 2021 Earnings Release, please visit http://cementospacasmayo.com.pe.

CONFERENCE CALL INFORMATION:

Cementos Pacasmayo will host a conference call on Tuesday, February 15, 2022, to discuss these results at 10:00 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: 289572

There will also be a live Audio Webcast of the event at:

https://www.webcaster4.com/Webcast/Page/1644/44403

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/20220214005768/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 4Q21 financial highlights?

Cementos Pacasmayo reported a 10.4% increase in revenues and a 10.5% rise in consolidated EBITDA for 4Q21.

How did sales volume change for Cementos Pacasmayo in 2021?

Sales volume for cement, concrete, and precast increased by 40.4% in 2021 compared to 2020.

What was the net income for Cementos Pacasmayo in 2021?

Net income for 2021 was S/ 153.2 million, reflecting a 164.5% increase from the previous year.

What is the EBITDA margin reported by Cementos Pacasmayo for 4Q21?

The EBITDA margin for 4Q21 was 27%, consistent with 4Q20.

When will Cementos Pacasmayo discuss their financial results?

Cementos Pacasmayo will host a conference call on February 15, 2022, at 10:00 a.m. Eastern Time.