Peruvian cement producer Cementos Pacasmayo S.A.A. and its subsidiaries have released their results for full-year 2014. Although the volume of cement sold was in line with 2013, net income improved by 24% y/y to S/.188.8 million, boosted by greater operating efficiencies, lower administrative expenses and a smaller loss from the exchange rate difference.
Sales increased by 0.2% y/y, while consolidated EBITDA grew by 4.7% y/y, rising from S/.348.9 million in 2013 to S/.365.3 million in 2014. The company’s operating margin increased by 0.6 percentage points when compared to the previous year, but its gross margin fell by 0.5 percentage points.
According to Cementos Pacasmayo, the Piura plant project is running on time and to budget. Production is expected to commence in 2H15.
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/the-americas/16022015/cementos-pacasmayo-publishes-2014-results-344/