UNACEM Corp (UNACEMC1) Q2 2025 earnings summary

Executive summary

• Q2 revenue was PEN 1,746 million, up 4.7% YoY; EBITDA was PEN 391 million, up 0.7%, and net profit rose 123.2% to PEN 106 million.

• H1 revenue and net profit increased YoY, while operating profit declined to PEN 497.463 million from PEN 515.647 million.

Financial highlights

• Q2 gross margin fell to 23.8% from 25.7%; EBITDA margin declined to 22.4% from 23.3%.

• Q2 cost of sales increased 7.5% YoY to PEN 1,331 million; U.S. maintenance accounting changes contributed a $4.7 million impact.

• Q2 financial expenses declined 19.9% YoY; foreign exchange shifted from a PEN 14.6 million loss to a PEN 20.6 million gain.

• LTM EBITDA rose 5.7% to PEN 1,633 million, and LTM EBITDA margin improved to 23.5% from 23.1%.

• H1 financial expenses fell to PEN 189.441 million from PEN 221.890 million; net foreign-exchange loss widened to PEN 48.880 million.

Outlook and guidance

• Peru volume outlook is positive, with expected public infrastructure activity including Vía Expresa Santa Rosa and highway and road improvements.

• Condorcocha lime kiln is expected to begin operations in 2Q27, with initial annual capacity of 200,000 tons.

• U.S. results are expected to benefit in following quarters from the reversal of maintenance-cost timing effects after both kiln maintenance programs were completed in H1.