UNACEM Corp (UNACEMC1) Q3 2025 earnings summary

Executive summary

• 3Q25 revenue was PEN 1,794 million, up 0.3% YoY; EBITDA fell 2.1% to PEN 410 million and net profit declined 15.3% to PEN 119 million.

• 9M revenue rose to PEN 5.212 billion from PEN 5.061 billion; operating profit declined to PEN 765.6 million from PEN 805.6 million, while net profit increased to PEN 336.6 million from PEN 299.1 million.

• 9M EBITDA was PEN 1,191 million, down 2.9%, as lower U.S. margins weighed on results; lower financial expenses and a PEN 56.2 million FX gain supported net profit.

Financial highlights

• 3Q gross margin fell to 25.0% from 25.9% YoY as cost of sales increased 1.5%; 9M gross margin was 24.6% versus 25.7%, with cost of sales up 4.5%.

• 9M gross profit was PEN 1.282 billion versus PEN 1.300 billion; administrative expenses rose to PEN 404.3 million from PEN 378.9 million, and selling and distribution expenses to PEN 111.0 million from PEN 95.8 million.

• Financial expenses declined to PEN 284.5 million in 9M from PEN 332.7 million; 3Q expenses were PEN 95 million versus PEN 111 million a year earlier.

• 9M operating cash flow was PEN 675.7 million versus PEN 572.1 million; investing cash outflow was PEN 476.1 million versus PEN 383.4 million.

Outlook and guidance

• Peru’s positive trend was expected to continue in Q4, with margins expected to recover.

• U.S. demand was expected to remain unfavorable in 2026; Arizona improvement was anticipated toward late 2026, while actions targeted costs and working capital.

• 2025–26 spending was expected to exceed historical levels, supporting sustainability and capacity projects, including kiln and clinker upgrades, a crusher, turbine work and ready-mix equipment.

• CALCEM’s quicklime plant was planned to begin operations in 2027, with initial capacity of 600 tons per day.