Cementos Pacasmayo S.A.A. and subsidiaries, a leading cement company serving the Peruvian construction industry, announced 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.
2Q22 FINANCIAL AND OPERATIONAL HIGHLIGHTS:
- 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:
- 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.
