Promising 2013 results for Cementos Pacasmayo

2013 results

Peruvian cement manufacturer Cementos Pacasmayo has released its consolidated results for 2013. The company’s cement sales volumes were 4% higher in 2013 than the previous year. Gross profit and operating profit also improved, increasing by 14.6% y/y and 27.1% y/y, respectively. Consolidated EBITDA rose from S/.278.5 million in 2012 to S/.348.9 million in 2013, an increase of 25.3% y/y. However, net income fell by 2.1% y/y. This decline has been attributed to exchange rate fluctuations and financing costs.

Expansion

Cementos Pacasmayo commenced construction of a new cement plant in Piura in October 2013. The new plant will have a cement production capacity of 1.6 million tpa and a clinker capacity of 1 million tpa. The Piura plant is expected to begin operating in 2H15.

Peruvian cement sector

In December 2013, cement producers associated with ASOCEM dispatched 849 011 t of cement to the domestic market, while cement exports reached 40 548 t. Cement sales volumes grew 7.5% y/y in January – December 2013.

Edited from various sources by Louise Fordham

Read the article online at: https://www.worldcement.com/the-americas/14022014/cementos_pacasmayo_2013_results_742/