Cementos Pacasmayo S.A.A. (NYSE:CPAC) Q1 2022 Earnings Conference Call April 28, 2022 11:00 AM ET

Company Participants

Claudia Bustamante - Investor Relations Manager

Humberto Nadal - Chief Executive Officer

Manuel Ferreyros - Chief Financial Officer

Operator

Good day, ladies and gentlemen, and welcome to Pacasmayo's First Quarter 2022 Earnings Conference Call. [Operator Instructions] And please note that this call is being recorded. At the conclusion of our prepared remarks, we will conduct a question-and-answer session.

I would now like to introduce your host for today's call, Ms. Claudia Bustamante, Investor Relations Manager. Ms. Bustamante, you may begin.

Claudia Bustamante

Thank you, Paul. 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 and 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 prove once more the resilience of the present cement industry, which is operating in the face of great uncertainty, both at the local and international levels.

Pacasmayo has been able to reach an outstanding 13% increase in revenues and an even more substantial 21.3% increase in EBITDA this quarter when compared to the same period in 2021, which was already a very strong quarter despite the difficult environment in which we have to operate.

As you all know, the current conflict between Russia and Ukraine has generated, among other things, an energy shortage, resulting in increased prices of oil, coal and gas. Coal prices have a direct and relevant effect on cement production. This is one of the main raw materials used in clinker production. Although we use mostly anthracite coal, which is sourced locally and is ordinarily not exported because of its lower calorific value, the exponential increase in international prices of bituminous coal has also had a repercussion on the price of this coal.