Cementos Pacasmayo S.A.A. and subsidiaries (NYSE: CPAC; BVL: CPACASC1) (“the Company” or “Cementos Pacasmayo”) a leading Peruvian cement company, announced today its consolidated results for the fourth quarter (“4Q12”) and twelve months (“2012”) ended December 31, 2012. These results have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are stated in nominal Peruvian nuevos soles (S/.).
It is important to note the following highlights:
- Cement sales volume increased 16.6% in 2012 compared to 2011, and 14.2% in 4Q12 compared to 4Q11.
- Net income increased 134.9% in 2012 compared to 2011 (S/. 159.0 million vs. S/. 67.7 million, see page 7), and 41.0% in 4Q12 compared to 4Q11 (S/. 39.9 million vs. S/. 28.3 million).
- Cement EBITDA increased 7.9% in 2012 compared to 2011 (S/. 292.1 million vs. S/. 270.8 million), and 11.7% in 4Q12 compared to 4Q11 (S/. 78.3 million vs. S/. 70.1 million).
- Private offering of US$ 300 million in Senior Notes in the international markets – On February 1, 2013, the Company successfully placed US$300 million in Senior Notes, with a coupon rate of 4.50%, and a yield to maturity of 4.625%, due on 2023. Demand for the notes exceeded US$ 2.5 billion.
4Q12 versus 4Q11:
- Sales of goods increased S/. 39.7 million (14.3%)
- Gross profit increased S/. 5.7 million (4.6%)
- Operating profit increased S/. 11.3 million (22.1%)
- Consolidated adjusted EBITDA increased S/. 4.3 million (6.2%)
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