Cementos Pacasmayo S.A.A., a cement company serving the Peruvian construction industry, has announced its consolidated results for the fourth quarter (4Q19) and the full year (2019) ended 31 December 2019. These results have been prepared in accordance with International Financial Reporting Standards (IFRS) and are stated in nominal Peruvian Soles (S/).
4Q19 Financial and Operational Highlights:
(All comparisons are to 4Q18, unless otherwise stated.)
- Sales volume of cement, concrete and precast increased 7.7%, mainly due to higher sales to the public sector, for Coastal El Niño reconstruction spending, some medium-sized private projects, as well as the self-construction segment.
- Revenues increased 9.8% primarily due to the increase in sales volume described above.
- Net Income of S/ 29.5 million. During 4Q18, there were two non-cash effects that had an impact on net income. Excluding these effects, net income would have been S/ 19.4 million. The 52.1% increase is mainly explained by the increased revenues described above, as well as higher operating profit and lower financial expenses.
- Consolidated EBITDA of S/ 100.9 million; a 10.9% increase, primarily due to increased sales.
- Cement EBITDA margin of 27.0%, a 0.5 percentage points increase.
2019 Financial and Operational Highlights:
(All comparisons are to 2018, unless otherwise stated.)
- Sales volume of cement, concrete and precast increased 10.6%, mainly due to higher sales to the public sector, for Coastal El Niño reconstruction spending, as well as medium-sized private projects and self-construction.
- Revenues increased 10.3%, primarily due to the increase in sales volume described above.
- Net Income of S/ 132.0 million, a 75.8% increase mainly due to higher operating income and lower financial expenses, as well as the non-recurring impact mentioned above.
- Consolidated EBITDA of S/ 400.3 million; a 7.7% increase, primarily due to increased sales.
- Cement EBITDA margin of 28.7%, a 0.9 percentage points decrease, mainly due to temporary cost increases from the transport of clinker from Piura to Pacasmayo, the changes in our sales mix, and use of imported clinker during the first half of the year.
Read the article online at: https://www.worldcement.com/the-americas/14022020/cementos-pacasmayo-shares-consolidated-financial-results-for-fourth-quarter-2019/
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