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 (“4Q19”) and the full year (“2019”) ended December 31, 2019. These results have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are stated in nominal Peruvian Soles (S/).
4Q19 Financial and Operational Highlights:
(All comparisons are to 4Q18, unless otherwise stated)
- Sales volume of cement, concrete and precast increased 7.7% mainly due to higher sales to the public sector, for Coastal El Niño reconstruction spending, some medium-sized private projects, as well as the self-construction segment.
- Revenues increased 9.8% primarily due to the increase in sales volume described above.
- Net Income of S/ 29.5 million. During 4Q18, there were two non-cash effects that had an impact on net income. Excluding these effects, net income would have been S/ 19.4 million. The 52.1% increase is mainly explained by the increased revenues described above, as well as higher operating profit and lower financial expenses.
- Consolidated EBITDA of S/ 100.9 million; a 10.9% increase, primarily due to increased sales.
- Cement EBITDA margin of 27.0%, a 0.5 percentage points increase.
2019 Financial and Operational Highlights:
(All comparisons are to 2018, unless otherwise stated)
- Sales volume of cement, concrete and precast increased 10.6%, mainly due to higher sales to the public sector, for Coastal El Niño reconstruction spending, as well as medium-sized private projects and self-construction.
- Revenues increased 10.3%, primarily due to the increase in sales volume described above.
- Net Income of S/ 132.0 million, a 75.8% increase mainly due to higher operating income and lower financial expenses, as well as the non-recurring impact mentioned above.
- Consolidated EBITDA of S/ 400.3 million; a 7.7% increase, primarily due to increased sales.
- Cement EBITDA margin of 28.7%, a 0.9 percentage points decrease, mainly due to temporary cost increases from the transport of clinker from Piura to Pacasmayo, the changes in our sales mix and use of imported clinker during the first half of the year
For a full version of Cementos Pacasmayo’s Fourth Quarter 2019 Earnings Release, please visit http://cementospacasmayo.com.pe.
CONFERENCE CALL INFORMATION:
Cementos Pacasmayo will host a conference call on Thursday, February 13 2020, to discuss these results at 10 a.m. Eastern Time and Lima Time.
To access the call, please dial:
(844) 369-8770 (From within the U.S.)
+1 (862) 298-0840 (From outside the U.S.)
A replay of this call will be available through March 13, 2020
To obtain the replay, please call:
877-481-4010 from within the U.S.
+1-919-882-2331 from outside the U.S.
Replay ID: #57417
There will also be a live Audio Webcast of the event at:
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 61 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.
For more information, please visit www.cementospacasmayo.com.pe
In Lima, Peru:
Manuel Ferreyros, CFO
Investor Relations Manager
+511-317-6000 Ext. 2165