Cementos Pacasmayo S.A.A. Announces Consolidated Results for Second Quarter 2014
July 24 2014 - 6:32PM
Business Wire
Cementos Pacasmayo S.A.A. and subsidiaries (NYSE:CPAC;
BVL:CPACASC1) (“the Company” or “Cementos Pacasmayo”) a Peruvian
cement company, announced today its consolidated results for the
second quarter (“2Q14”) and six-month (“6M14”) ended June 30, 2014.
These results have been prepared in accordance with International
Financial Reporting Standards (“IFRS”) and are stated in nominal
Peruvian Nuevos Soles (S/.).
Financial Highlights:
It is important to note the following highlights:
- Cement sales volume increased
3.5% in 6M14, compared to 6M13, exceeding the national
average of 0.84%1.
- Sales increased 2.9% in
6M14, compared to 6M13, mainly due to a 3.5% increase in
cement sales and a 57.2% increase in quicklime sales. This
was offset by a decrease in concrete sales.
- Gross profit decreased
4.1% in 6M14, compared to 6M13, mainly due to temporary
consumption of imported clinker and a decrease of concrete
demand.
- Operating profit decreased
9.0% in 6M14, compared to 6M13, mainly due to higher
expenses related to severance payments, increases in salaries and
an increase in employee profit sharing resulting from higher income
tax.
- Net income increased
18.0% in 6M14, compared to 6M13, mainly explained by a lower
net loss from exchange rate.
- Consolidated EBITDA was S/.
164.6 million in 6M14 vs. S/. 172.8 million in 6M13
- In July 2014, for the fifth consecutive
year, Cementos Pacasmayo was selected as part of the Good
Corporate Governance Index by the Lima Stock Exchange.
Additionally, the Company was awarded with a special recognition
for obtaining the highest sustained growth in the last 5
years.
For a full version of Cementos Pacasmayo’s Second Quarter
2014 Earnings Release, please visit
http://www.cementospacasmayo.com.pe/investors/
___________________________
1 Cement sales volume during 6M14 includes the cement used for
the construction of the new Piura plant. National average figures
come from ASOCEM.
CONFERENCE CALL
INFORMATION:
Cementos Pacasmayo will host a conference call TOMORROW,
Friday, July 25, 2014, to discuss these results at 11:00
a.m. New York time/10:00 a.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=99707
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 56 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.
In Lima:Cementos Pacasmayo S.A.A.Manuel Ferreyros, Chief
Financial OfficerClaudia Bustamante, Head of Investor
Relations511-317-6000 ext.
2165cbustamante@cpsaa.com.peorIn New York:i‐advize
Corporate Communications, Inc.Rafael Borja / Melanie
Carpenter212-406‐3693cementospacasmayo@i-advize.com
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