Cementos Pacasmayo S.A.A. (NYSE:CPAC) Q3 2024 Results Conference Call October 29, 2024 12:00 PM ET

Company Participants

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

Conference Call Participants

Marcelo Sa - Itau BBA

Operator

Good day, ladies and gentlemen, and welcome to Pacasmayo's Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode 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. Mrs. Bustamante, you may begin.

Claudia Bustamante

Thank you, Michael. Good morning, everyone, and thank you for your patience. 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. My apologies for the delay, I was just landing on a plane. This quarter, we delivered very solid results in terms of margins, EBITDA and profitability. Sales volumes this quarter recovered on a sequential basis, although still slightly behind the same quarter of 2023.

Despite this slight decrease in demand, we were able to achieve a record consolidated EBITDA of PEN154.6 million, an increase of almost 20% year-over-year as well as a remarkable increase of 35.9% in net income by basically focusing on operational efficiencies related to clinker production in our most efficient kilns as well as cost efficiencies in our sales of raw materials.

In our journey to continue developing our building solutions, this quarter, we have embarked into very relevant projects. First, we designed an innovative solution for riverbank protection. As you probably already know, the Northern Peru is consistently affected by El Niño, resulted in strong rains that overflow the rivers and therefore cause significant flooding.