Cementos Pacasmayo S.A.A. (NYSE:CPAC) Q3 2022 Results Conference Call October 27, 2022 11:00 AM ET

Company Participants

Claudia Bustamante - Investor Relations Manager

Humberto Nadal - Chief Executive Officer

Manuel Ferreyros - Chief Financial Officer

Conference Call Participants

Operator

Good morning, ladies and gentlemen, and welcome to the Cementos Pacasmayo Third Quarter 2022 Earnings Conference Call. At this time, all participants have been placed on a listen-only mode and we will open the floor for your questions and comments after the presentation.

It is now my pleasure to turn the floor over to your host, Claudia Bustamante. Ma'am, the floor is yours.

Claudia Bustamante

Thank you, Matthew. 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 then 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's results show our ability to sustain profitability even in the light of a slowdown in demand. Even when there has been a slight deceleration in terms of volumes, consolidated EBITDA was PEN124.9 million, a 6.5% increase when compared to the same period of last year, achieving a margin of almost 23%.

This is especially relevant considering that during the quarter, we performed preventive maintenance of our kiln in Piura and also our main kiln in Pacasmayo. We were able to shorten the scale of maintenance time in Piura from 30 to 20 days, therefore, performing it with our own clinker instead of using imported clinker. We are certain that this approach and our sustained focus on efficiency will continue to reap benefits.

As we have mentioned many times before, we are absolutely convinced that operating with sustainability at our core is the only way to ensure a profitable and successful future without sacrificing the wellbeing of our planet for future generations. In order to continue aligning our efforts in this front with our overall company strategy and to foster a culture of sustainability throughout the organization, we have decided to appoint a dedicated management team for this purpose. Along those same lines, and considering the relevance of climate change in our line of business, we have also appointed a dedicated management team for climate change matters.