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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 third quarter ("3Q18") and the nine months ("9M18") ended September 30, 2018. These results have been prepared in accordance with International Financial Reporting Standards ("IFRS") and are stated in nominal Peruvian Soles (S/).
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3Q18 Financial and Operational Highlights:
(All comparisons are to 3Q17, unless otherwise stated)
- Sales volume of cement, concrete and precast increased 1.9% mainly due to a recovery of the self-construction segment, as well as increased sales to small and medium sized projects.
- Revenues decreased 4.4%, mainly due to a change in mix of products sold and to a slight decrease in prices.
- Cement EBITDA margin of 31.9%, in line with 3Q17, and a 1.6 percentage point's increase compared to 2Q18.
- Net Income of S/ 33.4 million, a 13.5% decrease mainly due to lower operating income because of an increase in coal prices and cost of other raw materials, as well as the change in mix of products sold.
9M18 Financial and Operational Highlights:
(All comparisons are to 9M17, unless otherwise stated)
- Sales volume of cement, concrete and precast increased 3.8%, mainly due to higher sales to medium-sized companies, the self-construction sector and the public sector.
- Revenues increased 3.1%, primarily due to the increase in sales volume described above.
- Cement EBITDA margin of 30.8%, 0.6 percentage points higher, mainly due to operational efficiencies.
- Net Income of S/ 86.7 million, an increase of 6.4% mainly due to higher operating income.
For a full version of Cementos Pacasmayo's Third Quarter 2018 Earnings Release, please visit http://cementospacasmayo.com.pe.
CONFERENCE CALL INFORMATION:
Cementos Pacasmayo will host a conference call on Tuesday, October 30, 2018, to discuss these results at 12:00 p.m. Eastern Time / 11:00 a.m. Lima Time.
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To access the call, please dial:
(877) 481-4010 (From within the U.S.)
+1 (919) 882-2331 (From outside the U.S.)
There will also be a live Audio Webcast of the event at:
http://www.investorcalendar.com/event/38361
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 60 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 http://www.investorcalendar.com/event/38361
View source version on businesswire.com: https://www.businesswire.com/news/home/20181029005840/en/
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.