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.|