In This Article:
LIMA, Peru, October 29, 2024--(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 ("3Q24") and the nine months of the year ("9M24"). These results have been prepared in accordance with International Financial Reporting Standards ("IFRS") and are stated in Peruvian Soles (S/).
3Q24 FINANCIAL AND OPERATIONAL HIGHLIGHTS:
(All comparisons are to 3Q23, unless otherwise stated)
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Consolidated EBITDA of S/154.6 million, a 19.9% increase, mainly due to operational efficiencies related to our new kiln and more favorable raw material costs.
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Consolidated EBITDA margin of 29.9%, a 5.0 percentage point increase, mainly due to the above-mentioned operational efficiencies.
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Revenues increased 0.2%, mainly due to sales mix, as concrete and precast sales increased because of sales for the Piura airport project and the recovery of public sector investment.
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Sales volume of cement, concrete and precast decreased 4.4%, mainly due to a decrease in bagged cement demand. However, sales volume increased 16.2% quarter-over-quarter, demonstrating a positive trend.
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Net income of S/ 62.5 million, a 35.9% increase mainly due to the above-mentioned reasons.
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MERCO - for nine consecutive years we continue to lead the cement sector and for the second year, we are part of the Top 10 list of Merco´s business and leadership ranking.
9M24 FINANCIAL AND OPERATIONAL HIGHLIGHTS:
(All comparisons are to 9M23, unless otherwise stated)
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Consolidated EBITDA of S/ 406.7 million, a 12.3% increase, mainly due to the operational efficiency derived from our new kiln in Pacasmayo and more favorable costs of raw materials.
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Consolidated EBITDA margin of 28.0%, a 2.8 percentage point increase, mainly due to above-mentioned operational efficiencies.
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Revenues increased 0.9%, mainly due to sales mix as mentioned above.
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Sales volume of cement, concrete and precast decreased 5.8%, mainly due to the decrease in cement demand mentioned above.
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Net income of S/ 148.8 million, a 11.9% increase.
For a full version of Cementos Pacasmayo’s Third Quarter 2024 Earnings Release, please visit https://www.cementospacasmayo.com.pe/inversionistas/reportes
CONFERENCE CALL INFORMATION:
Cementos Pacasmayo will host a conference call on Tuesday, October 29, 2024, to discuss these results at 11:00 a.m. Lima Time and 12:00 p.m. Eastern Time.
To access the call, please dial: