Cementos Pacasmayo S.A.A. (NYSE: CPAC; BVL: CPACASC1) (“the Company” or “Cementos Pacasmayo”) a leading Peruvian cement company, announced today its consolidated results for the first quarter period ended March 31, 2012 (“1Q12”). These results have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are stated in nominal Peruvian nuevos soles (S/.).
Operating and Financial Highlights:
- In 1Q12, cement demand was stronger than anticipated as volumes increased 17% compared to 1Q11.
- Revenues in 1Q12 increased 20.4% compared to 1Q11.
- Gross margin remained high at 39.4%.
- The Phosphate project remains on schedule and is expected to initiate production in 2016.
|Financial and Operating Results|
|In thousands of metric tons|
|Cement, concrete and blocks volume||534.5||452.5||18.1%|
|in millions of S/.|
|Sales of goods||277.3||230.4||20.4%|
|Net income of controller||40.6||38.8||4.6%|
|Net cash flows provided by operating activities||-13.6||17.0||N/M|
|Net cash flows used in investing activities||-455.7||-53.1||N/M|
|Net Income of Controller Margin||14.6%||16.8%||-2.2pp.|
For a full version of Cementos Pacasmayo’s First Quarter 2012 Earnings Release, please visit http://www.cementospacasmayo.com.pe.
Note on Forward-Looking StatementsThis 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. 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.