Cementos Pacasmayo S.A.A. Announces Consolidated Results for First Quarter 2017
April 25 2017 - 8:06PM
Business Wire
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
(“1Q17”) ended March 31, 2017. These results have been prepared in
accordance with International Financial Reporting Standards
(“IFRS”) and are stated in nominal Peruvian Soles (S/).
Financial and Operational Highlights:
1Q17 Highlights (All comparisons are to 1Q16, unless
otherwise stated)
- Sales volume of cement, concrete
and blocks decreased 12.2% primarily due to landslides, flooding
and heavy rain, in the North of Peru since mid-February associated
with coastal El Niño.
- Revenues decreased 9.3%.
- Gross margin of 40.3%, up 3.3
percentage points due to operational efficiencies despite lower
sales volumes and increased depreciation.
- Cement EBITDA margin of 29.9%,
up 1.8 percentage points resulting from operational efficiencies.
Consolidated EBITDA of S/82.4 million, down 5%.
- Net income of Continuing
Operations of S/22.4 million, down 24.1% due to lower operating
profit because of increased depreciation from the Piura plant and
the termination of borrowing cost capitalization following the
conclusion of the Piura plant project. This is the last quarter
that we should see these differences. Additionally, there was a
one-off income booked in 1Q16 due to a provision for 2015 which was
not executed and reverted in 1Q16.
- Spin-off of the Company’s Phosphate
Assets to FOSSAL was effective March 1, 2017.
For a full version of Cementos Pacasmayo’s First Quarter 2017
Earnings Release, please visit
http://www.cementospacasmayo.com.pe/investors/.
CONFERENCE CALL
INFORMATION:
Cementos Pacasmayo will host a conference call on Wednesday,
April 26, 2017, to discuss these results at 10:00 a.m. Lima
Time/11:00 a.m. Eastern Time.
To access the call, please dial:+1 (866) 682-6100 (From within
the U.S.)+1 (862) 255-5401 (From outside the U.S.)
There will also be a live Audio Webcast of the event
at:http://www.investorcalendar.com/IC/CEPage.asp?ID=175839.
About 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 58 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
Note: The Company presented some figures converted from
Soles to U.S. Dollars for comparison purposes. The exchange rate
used to convert Soles to U.S. dollars was S/ 3.356 per US$ 1.00,
which was the exchange rate, reported as of December 31, 2016 by
the Superintendencia de Banca, Seguros y AFP’s (SBS). The
information presented in U.S. dollars is for the convenience of the
reader only. Certain figures included in this report have been
subject to rounding adjustments. Accordingly, figures shown as
totals in certain tables may not be arithmetic aggregations of the
figures presented in previous quarters.
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170425007035/en/
Investor RelationsCementos Pacasmayo S.A.A.Claudia Bustamante,
Head of Investor Relations511-317-6000 Ext.
2165cbustamante@cpsaa.com.peorNew YorkMBS Value
Partners646-452-2334barbara.cano@mbsvalue.com
Cementos Pacasmayo SAA (NYSE:CPAC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Cementos Pacasmayo SAA (NYSE:CPAC)
Historical Stock Chart
From Sep 2023 to Sep 2024