Cementos Pacasmayo shows improved 2Q and 1H results

Peru-based Cementos Pacasmayo SAA announced its consolidated results for the second quarter of 2022 and the six months ended 30 June 2022.

2Q22
In the second quarter of 2022 revenues increased 14.1 per cent YoY on the back of an increase in average prices of bagged cement. Sales volumes of cement, concrete and precast declined 1.9 per cent when compared with the peak levels in the 2Q21. Consolidated EBITDA advanced 33.9 per cent YoY to PEN120.5m thanks mainly to higher operating profit. The company used less imported clinker and was able to decrease costs as a result. The consolidated EBITDA margin reached 24 per cent, up 3.6 percentage points YoY. Net income surged 73.3 per cent to PEN48m, as sales and operating profit increased.

6M22
Revenues were up 13.5 per cent YoY in the 6M22, supported by a rise in average prices for bagged cement. However, sales volume of cement, concrete and precast decreased 3.7 per cent when compared with the 6M21 as bagged cement sales for self-construction as well as sales for reconstruction-related projects were down YoY. Consolidated EBITDA increased by 27.1 per cent to PEN248m, on the back of a higher operating profit. Consolidated EBITDA edged up 2.6 percentage points to 24.1 per cent. A 57.5 per cent advance was reported in terms of net income, which rose to PEN93.7m.