Cementos Pacasmayo S.A.A. (NYSE:CPAC) Q1 2023 Results Conference Call April 27, 2023 11:00 AM ET

Company Participants

Claudia Bustamante - Investor Relations

Humberto Nadal - Chief Executive Officer

Manuel Ferreyros - Chief Financial Officer

Operator

Good morning, everyone, and welcome to the Cementos Pacasmayo First Quarter 2023 Earnings Conference Call [Operator Instructions]. Please note, this conference is being recorded.

I will now turn the conference over to your host, Ms. Claudia Bustamante, Investor Relations. Claudia, you may begin.

Claudia Bustamante

Thank you, Denny. Good morning, everyone. Joining me on the call today is Mr. Humberto Nadal, our Chief Executive Officer; and Mr. Manuel Ferreyros, our Chief Financial Officer. Mr. Nadal will begin our call with an overview of the quarter, focusing primarily on our strategic outlook for the short and medium term. Mr. Ferreyros will follow with additional commentary on our financial results. We'll then turn the call over to your questions. Please note that this call will include certain forward-looking statements. These statements relate to expectations, beliefs, projections, trends and other matters that are not historical facts and are therefore subject to risks and uncertainties that might affect future events or results. Descriptions of these risks are set forth in the company's regulatory filings. With that, I'd now like to turn the call over to Mr. Humberto Nadal.

Humberto Nadal

Thank you, Claudia. Welcome, everyone, to today's conference call, and thank you for joining us today. This quarter, we had to face a challenge of inclement weather. As you probably already know, during March, our country and specifically the northern region were deeply affected by a cyclone. This is an extremely rare occurrence that left many without a home or livelihood. So I would first like to take a moment to extend our deepest sense of solidarity with them and the families and the promise that as a company, we will always continue helping as much as possible. Cyclone Yaku mainly affected the regions of Tumbes, Piura, and Lambayeque and La Libertad. This phenomenon and the rainy season in general have [led] so far economic losses estimated at $4 billion. Our sales this quarter were understandably affected by this event temporarily, mainly during March when sales volume decreased by 23% as compared to the same period of 2022. Nonetheless, due to proper cost management and the decrease in the use of imported clinker, we were still able to increase our EBITDA margin by almost [1%] point reaching 25.1%.