Pacasmayo posts 36% net profit advance in 3Q24

Peru-based Cementos Pacasmayo SAA reported a 0.2 per cent uptick in revenues for the third quarter of 2024 to PEN517.8m (US$137.5m) from PEN516.7m in the year-ago period. Concrete and precast sales increased thanks to the Piura airport project and the recovery of public sector investment. However, sales volumes of cement and concrete and precast products fell by 4.4 per cent as bagged cement sales fell YoY.

Consolidated EBITDA improved 19.9 per cent YoY to PEN154.6m, which the company attributed to operational efficiencies related to the new kiln and more favourable raw material costs. The consolidated EBITDA margin saw a five percentage point increase to 29.9 per cent.

The company’s net income advanced by 35.9 per cent YoY to PEN62.5m in the 3Q24 from PEN46.1m in the 3Q23.

January-September 2024 results
In the first nine months of 2024, revenues edged up by 0.9 per cent YoY to PEN1451.4m from 1428.7m in the 9M23. Sales volumes of cement, concrete and precast decreased by 5.8 per cent YoY as cement demand declined.

Consolidated EBITDA improved by 12.3 per cent YoY to PEN406.7m, resulting in a 2.8 percentage point increase of the consolidated EBITDA margin to 28 per cent.