Cementos Pacasmayo posts 9% increase in revenue in 3Q22

Peru-based Cementos Pacasmayo has announced a 9.1 per cent increase in revenue in the 3Q22, compared to the same period a year earlier. According to the company, the increase is due to higher average prices of bagged cement, as inflationary pressures continue to impact on raw materials and energy costs. Sales volumes of cement, concrete and precast over the 3Q22 fell by 5.9 per cent YoY, mainly due to moderation in sales volumes from the peak levels reached in 2021. When compared to the 2Q22, volumes advanced by 6.2 per cent. 

Consolidated EBITDA saw a 6.5 per cent advance to PEN124.9m (US$31.5m), driven by higher prices along with increased operating profit, as the company was able to lower its costs by using less imported clinker. This is especially relevant as the main kilns in Piura and Pacasmayo were in planned preventive maintenance during the 3Q22.The consolidated EDITBA margin came in at 22.6 per cent, down 0.5 percentage points. Net income over the 3Q22 saw a five per cent improvement YoY to PEN44.2m on the back of increased sales and improved operating profit. 

Over the first nine months of 2022, Cementos Pacasmayo recorded a 12 per cent rise in revenue. Sales volumes slipped 4.4 per cent, mainly due to a moderation in sale volumes of bagged cement for self-construction, as well as lower sales for reconstruction-related projects. Consolidated EBITDA saw a 19.4 per cent increase to PEN372.9m, while the EBITDA margin advanced by 1.5 percentage points to 23.6 per cent. Net income was up 35.7 per cent YoY in the 9M22 to PEN137.9m.