Unacem 2Q net profit doubles to PEN97m

Consolidated revenues of Peru-based Unacem increased 8.3 per cent YoY to PEN1.041bn (US$308.3m) in the second quarter of 2019 as a result of higher cement and ready-mix volume sales in Peru, higher prices in the USA, increased energy generation and the incorporation of seven newly-acquired ready-mix sites in Chile, said the company.

Consolidated EBITDA in the 2Q19 advanced 4.4 per cent PEN302m when compared with the 2Q18 while the second-quarter EBITDA margin slipped to 29 per cent from 30.1 per cent in 2Q18.

Net profit surged from PEN47m in the 2Q18 to PEN97m in the 2Q19.

Peru
In Peru the company’s dispatches in the 2Q were up 3.9 per cent YoY to 2.737Mt and as a result, in the domestic market the company reported a 1H19 market share of 47.3 per cent, up from 45.6 per cent in the 1H18.

However, clinker exports through Conchan fell from 581,000t in the 1H18 to 451,000t in January-June 2019.

Cement output rose 8.8 per cent to 1.322Mt while clinker production increased by 4.4 per cent YoY to 1.456Mt. However, when compared with the 1Q19, clinker production was up 39.1 per cent due to the scheduled stoppage of Kilns 1 and 2 at the Atocongo plant in the first quarter.

Ecuador
Unacem Ecuador reported a 7.9 per cent decline in sales volumes to 274,000t in the 2Q19 while the value of sales fell by 6.9 per cent YoY.