Cementos Pacasmayo (CPAC) Q4 2024 earnings summary

Executive summary

• Sales volume reversed its negative trend in Q4 2024, rising 2.6% year-over-year, driven by public sector and infrastructure projects like Piura Airport, with full-year revenues up 1.4% despite a 3.7% drop in sales volume.

• Record full-year 2024 EBITDA reached S/ 549.3 million, up 6.0% from 2023, with margin improvement to 27.8%.

• Digital transformation and sustainability initiatives advanced, including ISO 27001 certification and environmental product declarations for 75% of the portfolio.

• Leadership transition announced: CFO Manuel Ferreyros retires, succeeded by Ely Hayashi in April 2025.

• Recognized for sustainability, including S&P Yearbook, Merco ESG ranking, Dow Jones Sustainability Index MILA, and CDP platform disclosure.

Financial highlights

• Q4 2024 revenues increased 3% year-over-year to S/ 526.7 million; adjusted EBITDA for Q4 was S/ 142.5 million, with a margin of 27.1%.

• Full-year 2024 consolidated EBITDA reached a record S/ 549.3 million, margin 27.8%.

• Q4 2024 net income surged 39.3% to S/ 50.0 million; full-year net income up 17.8% to S/ 198.9 million.

• Cement segment sales in Q4 2024 were S/ 369.6 million with a gross margin of 43.5%.

• Cash and short-term deposits at Q4 2024 stood at S/ 72.7 million.

Outlook and guidance

• Positive sales volume trend in Q4 expected to continue in 2025, with optimism for both residential and infrastructure demand.

• Sustaining CapEx forecasted at S/ 100 million for 2025, with no major expansion planned.

• EBITDA margins anticipated to remain at high 2024 levels, supported by stable energy costs and efficient pricing.

• Management expects improved results in 2025, citing stronger demand and continued operational efficiencies.

• Ongoing focus on digital transformation, innovation, and sustainability to drive growth.