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年第四季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
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的毛利率爲39.4％，比去年同期增長了近9個百分點，這一增長歸因於生產成本的降低和煤炭成本的降低。
該公司2023年第四季度的收入爲5.114億歐元，比去年同期下降4.2％。
儘管收入下降，但毛利增長了23.6％，達到2.016億披索，這主要是由於停止使用進口熟料和降低煤炭成本降低了成本。
合併後的息稅折舊攤銷前利潤下降了1.2％，這主要歸因於立式窯的減值。
2023年全年，該公司的收入下降了7.8％，而毛利增長了5.7％，這主要是由2023年下半年實現的效率推動的。
調整後的息稅折舊攤銷前利潤增長了4.9％，利潤率比上年增長了3.2個百分點。
但是，本季度淨利潤下降了7.7％，全年下降了4.5％，這主要是由於立式窯減值產生的非現金影響。
Business Progress:
業務進展：
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.
該公司繼續推進其數字化戰略，現在藉助Mundo Experto、ConstruyExperto、Ferrexperto和PacasPro等工具，從商業角度來看，以完全數字化的方式運營。
2024年，該公司計劃利用帕卡斯馬約新窯爐的效率，預計需求環境將有所改善。
總共投資了8500萬美元用於提高熟料產能，另外300萬美元用於修復皮烏拉的舊窯爐。
受自建項目以及公共和私人工程需求減少的推動，水泥銷售在2023年第四季度下降了7.3％，全年下降了5.8％。
但是，與2022年第四季度相比，混凝土路面和砂漿的銷售增長了34.3％，凸顯了積極的銷售趨勢。
該公司預計將繼續通過成本優化和降低原材料成本取得積極成果。
預計2024年的息稅折舊攤銷前利潤率約爲28％，這得益於煤炭進一步節省成本和停止使用進口熟料。
More details: Cementos Pacasmayo IR
更多詳情： Cementos Pacasmayo IR
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