Peru: Cementos Pacasmayo 2Q16 revenues up 9%

Cementos Pacasmayo SAA has announced its consolidated results for the 2Q16, stating that volumes of cement, concrete and blocks rose 4.8 per cent during the period and revenues increased 9.1 per cent to PEN301.7m (US$90.6m).

Consolidated EBITDA of PEN93.1m (US$27.9m) was up 15.7 per cent, excluding PEN8.8m non-operating income booked in 2Q15. However, when including this income, EBITDA was up 4.3 per cent. Net income of PEN31.3m was down 18.9 per cent excluding non-operating income booked in 2Q15, due to the stop in capitalisation of borrowing costs and increased depreciation following the conclusion of the new Piura plant project. During the 2Q16 the Piura cement plant accounted for almost 40 per cent of total cement and clinker production.

Compared to 1Q16, results have increased substantially, the company claims. Gross margin increased five percentage points, EBITDA margin increased 3.3 percentage points, and net income margin increased 1.5 percentage points.