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 first quarter (“1Q20”) ended March 31, 2020. These results have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are stated in nominal Peruvian Soles (S/).
1Q20 Financial and Operational Highlights:
(All comparisons are to 1Q19, unless otherwise stated)
- Due to the outbreak of COVID-19, the Peruvian Government declared a state of emergency since March 16, 2020, resulting in a halt in production and commercialization of all non-essential products, including cement.
- Sales volume of cement, concrete and precast decreased 6.0% primarily due to the halt in commercialization mentioned above. During the first 2 months of the year, sales volume of cement, concrete and precast increased 12.8% compared to the same period of 2019.
- Revenues decreased 4.4%, mainly due to the halt in commercialization. During the first two months of 2020, revenues increased 14.4% when compared to the same period of 2019.
- Consolidated EBITDA of S/72.3 million, a 22.8% decrease, mainly due to the halt in sales of cement mentioned above, as well as the increased costs derived from the stop in production.
- Consolidated EBITDA margin of 24.2%, a 5.7 percentage point decrease.
- Net income of S/10.7 million, a 64.5% decrease mainly due to decreased sales and increased costs mentioned above.
For a full version of Cementos Pacasmayo’s First Quarter 2020 Earnings Release, please visit http://cementospacasmayo.com.pe.
CONFERENCE CALL INFORMATION:
Cementos Pacasmayo will host a conference call on Thursday, April 30 2020, to discuss these results at 11.30 a.m. Eastern Time/10.30 a.m. Lima Time.
To access the call, please dial:
(844) 602-0380 (From within the U.S.)
+1 (862) 298-0970 (From outside the U.S.)
A replay of this call will be available through May 30, 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: #34045
There will also be a live Audio Webcast of the event at: https://www.webcaster4.com/Webcast/Page/1644/34045
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.