Cementos Pacasmayo S.A.A. Announces Consolidated Results For Second Quarter 2012

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 second quarter period ended June 30, 2012 (“2Q12”). 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:

2Q12 versus 2Q11:
  • Cement sales volume exceeded expectations and increased 15.4%
  • Sales of goods increased 17.1%
  • Consolidated EBITDA in 2Q12 reached S/. 57.2 million
 

Financial and Operating Results

2Q12
    2Q11     % Var.     6M12     6M11     % Var.

In thousands of metric tons
Cement volume 503.7 436.5 15.4 % 1,038.2 889.0 16.8 %
Quicklime volume 26.8 23.9 12.1 % 56.4 50.4 11.9 %
 
In millions of S/.
Sales of goods 265.5 226.8 17.1 % 542.8 457.2 18.7 %
Gross profit 98.2 95.8 2.5 % 207.7 195.6 6.2 %
Operating profit 45.0 55.1 -18.3 % 104.8 112.8 -7.1 %
Net income of controller 30.8 36.3 -15.2 % 71.4 75.1 -4.9 %
 
Consolidated EBITDA 57.2 65.7 -12.9 % 128.8 134.9 -4.5 %
Cement EBITDA 60.6 66.7 -9.2 % 133.8 136.6 -2.0 %
 
Net cash flows provided by operating activities 37.4 15.0 N/R 23.8 32.0 N/R
Net cash flows used in investing activities -29.2 -54.2 N/R -484.9 -107.3 N/R
 
Gross Margin 37.0 % 42.2 % -5.2 pp. 38.3 % 42.8 % -4.5 pp.
Operating Margin 16.9 % 24.3 % -7.4 pp. 19.3 % 24.7 % -5.4 pp.
Controller’s Net Margin 11.6 % 16.0 % -4.4 pp. 13.2 % 16.4 % -3.2 pp.
Consolidated EBITDA Margin 21.5 % 29.0 % -7.5 pp. 23.7 % 29.5 % -5.8 pp.
Cement EBITDA Margin 22.8 % 29.4 % -6.6 pp. 24.6 % 29.9 % -5.3 pp.
 

For a full version of Cementos Pacasmayo’s First Quarter 2012 Earnings Release, please visit http://www.cementospacasmayo.com.pe.

CONFERENCE CALL INFORMATION:

Cementos Pacasmayo will host a conference call tomorrow, Friday, July 27, 2012, to discuss these results at 10:30 am New York time/9:30 am Lima time.

To participate, please dial:

+1 800 311 9401 (From within the U.S.)

+1 334 323 7224 (International participants)

Passcode: 26737

There will also be a live Audio Webcast of this event available at:

http://www.cementospacasmayo.com.pe/investors/events/quarterly-results-and-conference-calls-webcasts/

About Cementos Pacasmayo S.A.A.

Cementos Pacasmayo S.A.A. is a leading Peruvian cement company, and the only cement manufacturer 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 54 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 on Forward-Looking Statements

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.

Copyright Business Wire 2010

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