Cementos Pacasmayo 1Q14 results
Peruvian cement manufacturer Cementos Pacasmayo S.A.A. has released its consolidated results for the first quarter of 2014. EBITDA came in at S/.80.7 million compared to S/.81.3 million in the corresponding period in 2013. Net income and operating profit fell by 11.8% y/y and 5.5% y/y, respectively. However, cement sales volumes grew by 4% y/y, with cement net sales improving by 5.9% y/y and total sales by 3% y/y.
In addition, the Environmental Impact Study for the company’s phosphate project received approval in March.
Peruvian economy and cement market
The latest results from ASOCEM indicate that its associated companies dispatched 814 495 t of cement on the domestic market in March 2014 and exported 16 599 t. In 1Q14, volumes increased by 1.35% y/y.
According to the National Institute of Information and Statistics (Instituto Nacional de Estadística e Informática – INEI), Peru’s economy grew by 5.72% y/y on February 2014 and by 4.97% y/y in the first two months of the year. Within this, the construction sector improved by 9.78% in February, driven by public works development. Meanwhile, manufacturing activity increased by 6% and the mining and hydrocarbon sector grew by 7.92%.
Edited from various sources by Louise Fordham