Peru: Cementos Pacasmayso has announced its financial results for the fourth quarter of and the full year 2017.
In the fourth quarter of 2017, sales volumes of cement, concrete and blocks increased by 7.3%, primarily due to increased sales volumes to the self-construction segment and to a pick up in public sector spending. The company’s cement-based earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 13.9% to US$32.3m, but consolidated EBITDA decreased by 35.7% due to a write-off in a water-desalination project.
For the full year, sales of cement, concrete and blocks decreased by 0.8%, despite the significant decline in sales volume during the first four months of the year due to the effects of the El Niño. It is important to note that year-on-year sales volume has increased steadily every month, from May 2017 through to the end of the year. Cement EBITDA for the year reached US$114.9m, a decrease of only 2.2%, despite the aforementioned detrimental El Niño effects on both sales and costs.
