Cementos Pacasmayo S.A.A. and subsidiaries (NYSE: CPAC; BVL: CPACASC1)
(“the Company” or “Cementos Pacasmayo”), a leading cement company
serving the growing Peruvian construction industry, announced today its
consolidated results for the first quarter (“1Q15”) ended March 31,
2015. These results have been prepared in accordance with International
Financial Reporting Standards (“IFRS”) and are stated in nominal
Peruvian Nuevos Soles (S/.).
Financial and Operational Highlights:
-
Consolidated EBITDA increased 10.5% to S/. 89.2 million
in 1Q15 from S/. 80.7 million in 1Q14, driven by the successful
implementation of cost control measures
-
Net income increased 31.4% to S/. 52.3 million in 1Q15
from S/. 39.8 million in 1Q14, mainly explained by a higher gross
profit and a positive impact from exchange rate movements
-
Gross margin increased to 43.0% in 1Q15 from 40.6% in
1Q14
-
Cement sales volume* decreased 5.6% in 1Q15 compared to
1Q14, mainly due to lower cement demand from the public sector. New
local authorities took office January 1, 2015.
-
Sales decreased 3.2% in 1Q15 compared to 1Q14
-
The Piura plant project, remains within the planned timeline
and budget, with production scheduled to begin during the second half
of 2015. Virtually all equipment is now on site, and electrical work
has begun.
For a full version of Cementos Pacasmayo’s First Quarter 2015
Earnings Release, please visit http://www.cementospacasmayo.com.pe/investors/
CONFERENCE CALL INFORMATION:
Cementos Pacasmayo will host a conference call on Wednesday, April
29, 2015 at 1:00 p.m. New York Time/ 12:00 p.m. Lima Time.
To access the call, please dial:
|
+1 800 311 9401 (From within the U.S.)
|
+1 334 323 7224 (All other participants)
|
Passcode: 26737
|
|
There will also be a live Audio Webcast of the event at: http://www.videonewswire.com/event.asp?id=102141
Acerca de 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 57 years of operating history, the Company produces,
distributes and sells cement and cement-related materials, such as
concrete blocks and ready-mix concrete. Cementos 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.cementospacasmayo.com.pe/investors/
This press release may contain forward-looking statements. These
statements are statements that are not historical facts, and are based
on management’s current view and estimates of future economic
circumstances, industry conditions, Company performance and financial
results. Also, certain reclassifications have been made to make figures
comparable for the periods. The words “anticipates”, “believes”,
“estimates”, “expects”, “plans” and similar expressions, as they relate
to the Company, are intended to identify forward-looking statements. Statements
regarding the declaration or payment of dividends, the implementation of
principal operating and financing strategies and capital expenditure
plans, the direction of future operations and the factors or trends
affecting financial condition, liquidity or results of operations are
examples of forward-looking statements. Such statements reflect
the current views of management and are subject to a number of risks and
uncertainties. There is no guarantee that the expected events,
trends or results will actually occur. The statements are based
on many assumptions and factors, including general economic and market
conditions, industry conditions, and operating factors. Any
changes in such assumptions or factors could cause actual results to
differ materially from current expectations.
Copyright Business Wire 2015