Earnings Call Summary | Cementos Pacasmayo(CPAC.US) Q4 2023 Earnings Conference
Earnings Call Summary | Cementos Pacasmayo(CPAC.US) Q4 2023 Earnings Conference
The following is a summary of the Cementos Pacasmayo S.A.A. (CPAC) Q4 2023 Earnings Call Transcript:
以下是Cementos Pacasmayo S.A.A.（CPAC）2023年第四季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
Cementos Pacasmayo recorded a gross profit margin of 39.4%, up by nearly 9 percentage points from the last year's same quarter, a growth attributed to lower production costs and reduced coal costs.
The company's Q4 2023 revenues were PEN511.4 million, a 4.2% decrease from the previous year's same quarter.
Despite the drop in revenue, gross profit increased by 23.6% to PEN200.16 million, largely because of reduced costs from discontinuation of imported clinker use and lower coal costs.
Consolidated EBITDA saw a 1.2% reduction, primarily attributed to the impairment of vertical kilns.
For the full year 2023, the company's revenues decreased by 7.8% whereas gross profit went up by 5.7%, driven mostly by efficiencies realized in H2 2023.
Adjusted EBITDA rose by 4.9% with the margin increasing by 3.2 percentage points from the previous year.
However, net profit fell by 7.7% for the quarter and 4.5% for the full year, predominantly due to the non-cash impact from the impairment of vertical kilns.
Cementos Pacasmayo的毛利率为39.4％，比去年同期增长了近9个百分点，这一增长归因于生产成本的降低和煤炭成本的降低。
该公司2023年第四季度的收入为5.114亿欧元，比去年同期下降4.2％。
尽管收入下降，但毛利增长了23.6％，达到2.016亿比索，这主要是由于停止使用进口熟料和降低煤炭成本降低了成本。
合并后的息税折旧摊销前利润下降了1.2％，这主要归因于立式窑的减值。
2023年全年，该公司的收入下降了7.8％，而毛利增长了5.7％，这主要是由2023年下半年实现的效率推动的。
调整后的息税折旧摊销前利润增长了4.9％，利润率比上年增长了3.2个百分点。
但是，本季度净利润下降了7.7％，全年下降了4.5％，这主要是由于立式窑减值产生的非现金影响。
Business Progress:
业务进展：
The company continues to advance its digital strategy and now operates fully digitally from a commercial standpoint with the help of tools like Mundo Experto, ConstruyeXperto, Ferrexperto, and PacasPro.
In 2024, the company plans to leverage efficiencies from the new kiln in Pacasmayo, anticipating a better demand environment.
Investments totaling $85 million were made in upgrading clinker capacity, with an additional $3 million used to restore Piura's old kiln.
Sales of cement fell by 7.3% in Q4 2023 and 5.8% for the full year, driven by lower demand from self-construction projects and public and private works.
However, sales of concrete pavement and mortars increased by 34.3% compared to Q4 2022, highlighting a positive sales trend.
The company expects to continue realizing positive results from cost optimization and lower raw material costs.
The projected EBITDA margin for 2024 is around 28%, backed by further cost savings on coal and the discontinuation of imported clinker use.
该公司继续推进其数字化战略，现在借助Mundo Experto、ConstruyExperto、Ferrexperto和PacasPro等工具，从商业角度来看，以完全数字化的方式运营。
2024年，该公司计划利用帕卡斯马约新窑炉的效率，预计需求环境将有所改善。
总共投资了8500万美元用于提高熟料产能，另外300万美元用于修复皮乌拉的旧窑炉。
受自建项目以及公共和私人工程需求减少的推动，水泥销售在2023年第四季度下降了7.3％，全年下降了5.8％。
但是，与2022年第四季度相比，混凝土路面和砂浆的销售增长了34.3％，凸显了积极的销售趋势。
该公司预计将继续通过成本优化和降低原材料成本取得积极成果。
预计2024年的息税折旧摊销前利润率约为28％，这得益于煤炭进一步节省成本和停止使用进口熟料。
More details: Cementos Pacasmayo IR
更多详情： Cementos Pacasmayo IR
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