UNACEM Corp (UNACEMC1) investor relations material

Executive summary

• Q2 revenue rose 10.6% YoY to PEN 1,931 million; EBITDA reached PEN 468.9 million, up 18.7%, with a 24.2% margin; net profit increased 65.5% to PEN 175 million.

• H1 revenue rose 8.9% to PEN 3,720.4 million; EBITDA was PEN 788 million, up 0.9%, while net profit fell to PEN 174.3 million from PEN 217.7 million and operating profit declined to PEN 473.5 million from PEN 497.5 million.

Financial highlights

• Q2 gross margin was 26.3%, up from 23.8% YoY; cost of sales increased 6.9%.

• H1 gross profit was PEN 847.8 million versus PEN 833.4 million; gross margin was 22.8% versus 24.4%, and cost of sales rose to PEN 2,872.5 million from PEN 2,584.1 million.

• Q2 financial expenses declined to PEN 88 million from PEN 102 million; FX gain increased to PEN 30 million from PEN 20.6 million.

• H1 financial expenses fell to PEN 175.1 million from PEN 189.4 million; net exchange result shifted from a PEN 48.9 million gain to an PEN 8.4 million loss.

• H1 operating cash flow was PEN 348.1 million versus PEN 342.1 million.

Outlook and guidance

• U.S. market expected to remain flat; Arizona operations are recovering share and running near full capacity, while California’s go-to-market strategy is under review.

• Full-year CapEx budget is ~PEN 1.1 billion, including PEN 74 million for maintenance; remaining spending is for growth and sustainability initiatives.

• Priorities for the next strategic cycle are being defined as the Unlocking Value phase concludes, with details expected in coming months.