Q2 2024 Cementos Pacasmayo SAA Earnings Call Transcript
Key Points
- Revenues increased by 3.4% year-over-year, reversing a negative trend from the past two years.
- Consolidated EBITDA rose by 6%, driven by operational efficiencies and favorable raw material prices.
- Concrete, mortar, and pavement sales surged by 91% compared to the same period last year, largely due to the Piura Airport project.
- Free cash sales increased by 46% year-over-year, benefiting from accelerated public sector projects.
- Gross profit increased by 5.9%, attributed to lower production costs and the efficient use of the new kiln in Pacasmayo.
- Sales of cement decreased by 3.6% in the second quarter, primarily due to reduced demand from the self-construction segment.
- Administrative expenses increased by 6% in the second quarter, driven by higher personnel expenses and property taxes.
- Selling expenses rose by 11.5% in the second quarter, mainly due to increased software and licenses, third-party services, and personnel expenses.
- Net profit decreased by 15.4% this quarter compared to the same period last year, due to a one-off exchange rate gain in the previous year.
- Gross margins in concrete and pavement decreased year-on-year, despite a 91% increase in revenue, due to the product mix and larger infrastructure projects yielding lower margins.
Good day, ladies and gentlemen. Welcome to Pacasmayo's second-quarter 2024 earnings conference call. (Operator Instructions) Please note that this call is being recorded. (Operator Instructions)
I would now like to introduce your host for today's call, Mrs. Claudia Bustamante, Sustainability and Investor Relations Manager. Mrs. Bustamante, you may begin.
Thank you, Tim. Good morning, everyone. Joining me on the call today is Mr. Humberto Nadal, our Chief Executive Officer; and Mr. Manuel Ferreyros, our Chief Financial Officer. Mr. Nadal will begin our call with an overview of the quarter, focusing primarily on our strategic outlook for the short and medium term. Mr. Ferreyros will then follow with additional commentary on our financial results. We'll then turn the call over to your questions.
Please note that this call will include certain forward-looking statements. These statements relate to expectations, beliefs, projections, trends, and other matters
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