Cementos Pacasmayo S.A.A. (NYSE:CPAC) Q2 2024 Earnings Conference Call July 23, 2024 10:30 AM ET

Company Participants

Claudia Bustamante - Sustainability and Investor Relations Manager
Humberto Nadal - Chief Executive Officer
Manuel Ferreyros - Chief Financial Officer

Conference Call Participants

Marcelo Furlan - Itaú
Natalia Leo - JPMorgan

Operator

Good morning, ladies and gentlemen. Welcome to Pacasmayo's Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. 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 Mrs. Claudia Bustamante, Sustainability and Investor Relations Manager. Mrs. Bustamante, you may begin.

Claudia Bustamante

Thank you, Tim. 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 are related 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 our quarterly results conference call and thank you so much for joining us today. This quarter revenues increased to 3.4% year-over-year, showing a reversal of a negative trend that started almost three years ago. The increase in revenues were mainly driven by concrete and pavement sales related to the Piura airport project, which almost -- in this quarter as compared to the second quarter of 2023. Furthermore, we were able to achieve a 6% increase in consolidated EBITDA, mainly due to operational efficiencies derived from our new kiln in Pacasmayo as well as favorable raw material prices. We are confident that the efficiency achieved will be sustainable over time, and top-line growth should sustain by the continued delivery of concrete and pavement for the airport project and increased participation on public investment projects.