Cementos Pacasmayo sees 27% revenue increase in 4Q20

Peru’s Cementos Pacasmayo has announced a 27.1 per cent rise in revenue to PEN475.3m (US$130.4m) in the 4Q20, compared with PEN374m in the final quarter of 2019. Consolidated EBITDA advanced 27 per cent YoY to PEN128.1m from PEN100.9m in the 4Q19.

The company’s sales volume of cement, concrete and precast also increased 37.2 per cent YoY during the quarter, reaching historical record levels once again, mainly due to the continued increase in sales of bagged cement.

In the full-year 2020 period, revenue declined 6.9 per cent YoY to PEN1.296bn while consolidated EBITDA fell 21.2 per cent to PEN315.3m from PEN400.4m in 2019.

Cement, concrete and precast shipments saw a minor dip of 1.2 per cent, which has been attributed to the halt in production and commercialisation during the second quarter.

"To sum up, around the world, 2020 has been one of the most challenging years in recent history. The uncertainty around the end of the COVID-19 pandemic continues, but what is certain is that the world has been forever changed. The capacity to adapt quickly and efficiently in an increasingly digital world is key to success and will prevail long after this pandemic is behind us. We believe that the steps we have taken in that direction have both helped us weather the storm and given us a promising future. We are confident that we are better equipped to face another year that may prove challenging and continue to generate value to our stakeholders," said the company in statement.