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

Rhea-AI Summary

Cementos Pacasmayo S.A.A (NYSE: CPAC) reported strong financial results for the second quarter and first half of 2022, with revenues increasing by 14.1% in 2Q22 and 13.5% in 6M22, primarily driven by higher cement prices. Net income surged by 73.3% to S/48 million in 2Q22 and 57.5% to S/93.7 million in 6M22. However, sales volumes of cement, concrete, and precast decreased by 1.9% and 3.7% respectively, indicating a moderation from last year's high.

Positive

• Revenues increased by 14.1% in 2Q22 and 13.5% in 6M22.
• Net income rose by 73.3% in 2Q22 and 57.5% in 6M22.
• Consolidated EBITDA increased by 33.9% in 2Q22 and 27.1% in 6M22.

Negative

• Sales volume decreased by 1.9% in 2Q22 and 3.7% in 6M22.

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 second quarter (“2Q22”) and the six months (“6M22”) ended June 30, 2022. These results have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are stated in nominal Peruvian Soles (S/).

2Q22 FINANCIAL AND OPERATIONAL HIGHLIGHTS:

(All comparisons are to 2Q21, unless otherwise stated)

• Revenues increased 14.1%, 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 1.9%, mainly due to a moderation in sales volume from the peak levels reached last year.
• Consolidated EBITDA of S/120.5 million, a 33.9% increase, mainly due to higher operating profit, since we were able to decrease costs by using less imported clinker.
• Consolidated EBITDA margin of 24.0%, a 3.6 percentage point increase
• Net income of S/ 48.0 million, a 73.3% increase mainly due to increased sales and operating profit as mentioned above.

6M22 FINANCIAL AND OPERATIONAL HIGHLIGHTS:

(All comparisons are to 6M21, unless otherwise stated)

• Revenues increased 13.5%, 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 3.7%, mainly due to a moderation in sales volume of bagged cement for self-construction as well as decreased sales for reconstruction-related projects.
• Consolidated EBITDA of S/248 million, a 27.1% increase, mainly due to higher operating profit, since we were able to decrease costs by using less imported clinker.
• Consolidated EBITDA margin of 24.1%, a 2.6 percentage point increase
• Net income of S/ 93.7 million, a 57.5% increase mainly due to increased sales and operating profit as mentioned above.

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

CONFERENCE CALL INFORMATION:

Cementos Pacasmayo will host a conference call on Monday, July 25, 2022, to discuss these results at 11:00 a.m. Eastern/ 10:00am 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: 268757

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

https://www.webcaster4.com/Webcast/Page/1644/45931

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/20220722005493/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 revenues in Q2 2022?

Cementos Pacasmayo reported revenues of S/120.5 million in Q2 2022, a 14.1% increase compared to Q2 2021.

How much did net income increase for Cementos Pacasmayo in Q2 2022?

Net income for Q2 2022 increased by 73.3% to S/48 million.

What is the stock symbol for Cementos Pacasmayo?

Cementos Pacasmayo is listed under the stock symbol CPAC on the NYSE.

When is Cementos Pacasmayo's conference call regarding Q2 results?

The conference call will take place on Monday, July 25, 2022, at 11:00 a.m. Eastern.

What caused the increase in Cementos Pacasmayo's revenues?

The increase in revenues was mainly due to higher average prices of bagged cement, influenced by inflationary pressures on raw materials and energy.