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

Rhea-AI Summary

Cementos Pacasmayo S.A.A (NYSE: CPAC) reported its 3Q22 results, highlighting a 9.1% revenue increase driven by higher bagged cement prices despite a 5.9% decline in sales volume. EBITDA rose by 6.5% to S/124.9 million, and net income increased 5.0% to S/44.2 million. For 9M22, revenues climbed 12.0%, with net income up 35.7% to S/137.9 million. The EBITDA margin for 9M22 was 23.6%, a 1.5 percentage point increase. The company will hold a conference call on October 27, 2022.

Positive

• Revenue increased 9.1% in 3Q22 and 12.0% in 9M22, benefiting from higher average prices of cement.
• Net income rose 5.0% in 3Q22 and 35.7% in 9M22, indicating strong operational performance.
• Consolidated EBITDA grew 6.5% in 3Q22 and 19.4% in 9M22 due to efficient cost management.

Negative

• Sales volumes decreased 5.9% in 3Q22 and 4.4% in 9M22, indicating a potential slowdown in demand.
• Consolidated EBITDA margin declined by 0.5 percentage points in 3Q22.

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 third quarter (“3Q22”) and the nine months (“9M22”) ended September 30, 2022. These results have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are stated in nominal Peruvian Soles (S/).

3Q22 FINANCIAL AND OPERATIONAL HIGHLIGHTS:

(All comparisons are to 3Q21, unless otherwise stated)

• Revenues increased 9.1%, 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 5.9%, mainly due to a moderation in sales volume from the peak levels reached last year. However, if we compare sales volumes to 2Q22, these increased 6.2%.

• Consolidated EBITDA of S/124.9 million, a 6.5% increase, mainly due to higher prices, as well as increased operating profit, since we were able to decrease costs by using less imported clinker. This is especially relevant since both of our main kilns in Piura and Pacasmayo were in planned preventive maintenance in this quarter.

• Consolidated EBITDA margin of 22.6%, a 0.5 percentage point decrease

• Net income of S/ 44.2 million, a 5.0% increase mainly due to increased sales and operating profit as mentioned above.

9M22 FINANCIAL AND OPERATIONAL HIGHLIGHTS:

(All comparisons are to 9M21, unless otherwise stated)

• Revenues increased 12.0%, 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 4.4%, 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/372.9 million, a 19.4% increase, mainly due to higher operating profit, since we were able to decrease costs by using less imported clinker.

• Consolidated EBITDA margin of 23.6%, a 1.5 percentage point increase.

• Net income of S/ 137.9 million, a 35.7% increase mainly due to increased sales and operating profit as mentioned above.

For a full version of Cementos Pacasmayo’s Third 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, October 27, 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: 996674

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

https://www.webcaster4.com/Webcast/Page/1644/46691

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/20221026006085/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 for 3Q22?

Cementos Pacasmayo reported a revenue increase of 9.1% in 3Q22.

How did net income perform for Cementos Pacasmayo in 9M22?

Net income for Cementos Pacasmayo in 9M22 was S/137.9 million, a 35.7% increase.

When will Cementos Pacasmayo hold their conference call?

Cementos Pacasmayo will host a conference call on October 27, 2022.

What was the EBITDA margin for Cementos Pacasmayo in 9M22?

The EBITDA margin for Cementos Pacasmayo in 9M22 was 23.6%, reflecting a 1.5 percentage point increase.

How did sales volume change for Cementos Pacasmayo in 3Q22?

Sales volume of cement, concrete, and precast decreased by 5.9% in 3Q22.