Cementos Pacasmayo (NYSE: CPAC) lifts Q1 2026 EBITDA by 32%
Rhea-AI Filing Summary
Cementos Pacasmayo S.A.A. reported strong first-quarter 2026 results, with sales of goods of S/ 555.7 million, up 11.3% year over year, supported by an 11.7% increase in cement, concrete and precast shipment volume to 797.4 thousand metric tons.
Gross profit rose 27.8% to S/ 234.4 million and operating profit climbed 46.0% to S/ 139.7 million. Net income increased 55.4% to S/ 81.9 million, while consolidated EBITDA reached S/ 177.9 million, up 32.1%, lifting the EBITDA margin to 32.0%. Higher cement volumes for the self-construction segment, better mix, lower unit costs and higher plant utilization all contributed, and the company ended the quarter with S/ 78.6 million in cash and a Net Debt/EBITDA ratio of 2.6x.
Positive
- Strong earnings growth and margin expansion: 1Q26 sales of goods rose 11.3% to S/ 555.7 million, while net income increased 55.4% to S/ 81.9 million and consolidated EBITDA grew 32.1% to S/ 177.9 million, lifting the EBITDA margin from 27.0% to 32.0%.
Negative
- None.
Insights
Broad-based volume growth and margin expansion drove sharply higher Q1 2026 earnings.
Cementos Pacasmayo delivered double-digit top-line growth with stronger profitability. Sales of goods rose to S/ 555.7 million (up 11.3%), while cement, concrete and precast volumes increased 11.7%, indicating healthier construction demand in northern Peru.
Operating leverage was evident: gross profit grew 27.8% and operating profit 46.0%, supported by higher plant utilization, lower downtime, cheaper bags and energy, and a better product mix. Consolidated EBITDA increased to S/ 177.9 million, lifting the EBITDA margin from 27.0% to 32.0%.
Net income advanced to S/ 81.9 million (up 55.4%), helped by higher operating profit and slightly lower finance costs as debt was reduced. The company closed the quarter with a Net Debt/EBITDA ratio of 2.6x as of March 31, 2026, suggesting a moderate leverage profile supported by stronger cash generation.
Key Figures
Key Terms
EBITDA financial
Net Debt/EBITDA ratio financial
utilization rate financial
self-construction segment financial
International Financial Reporting Standards (IFRS) financial
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15b-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of April 2026
Commission File Number 001-35401
CEMENTOS PACASMAYO S.A.A.
(Exact name of registrant as specified in its charter)
PACASMAYO CEMENT CORPORATION
(Translation of registrant’s name into English)
Republic of Peru
(Jurisdiction of incorporation or organization)
Calle La Colonia 150, Urbanización El Vivero
Surco, Lima
Peru
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
CEMENTOS PACASMAYO S.A.A.
The following exhibit is attached:
| EXHIBIT NO. | DESCRIPTION | |
| 99.1 | Cementos Pacasmayo S.A.A. Announces Consolidated Results for First Quarter 2026 |
1
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
CEMENTOS PACASMAYO S.A.A.
| By: | /s/ DIEGO RODA LYNCH | |
| Name: | Diego Roda Lynch | |
| Title: | Stock Market Representative | |
| Date: | April 24, 2026 |
2
Exhibit 99.1
CEMENTOS PACASMAYO S.A.A. ANNOUNCES CONSOLIDATED
RESULTS
FOR FIRST QUARTER 2026
Lima, Peru, April 24, 2026 – Cementos Pacasmayo S.A.A. and subsidiaries (NYSE: CPAC; BVL: CPACASC1) (“the Company” or “Pacasmayo”) a leading cement company serving the Peruvian construction industry, announced today its consolidated results for the first quarter (“1Q26”). These results have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are stated in Soles (S/).
1Q26 FINANCIAL AND OPERATIONAL HIGHLIGHTS:
(All comparisons are to 1Q25, unless otherwise stated)
| ● | Sales volume of cement, concrete and precast increased by 11.7%, mainly due to increased demand of cement and concrete. |
| ● | Revenues increased by 11.3%, in line with the increase in sales volume mentioned above. |
| ● | Consolidated EBITDA of S/177.9 million, a 32.1% increase, mainly due to gross margin expansion in the cement and concrete businesses derived from operational efficiencies. |
| ● | Consolidated EBITDA margin of 32.0%, a 5.0 percentage point increase. |
| ● | Net income of S/ 81.9 million, a 55.4% increase mainly due to higher operating profit, as well as slightly lower financial expenses as we continue to lower our debt levels. |
| ● | On March 30, 2026, a change of control was finalized as Holcim Ltd completed the acquisition of Inversiones Aspi S.A., securing a 50.01% controlling interest in the Company. |
| Financial and Operating Results | ||||||||||||
| Financial and Operating Results | 1Q26 | 1Q25 | % Var. | |||||||||
| Cement, concrete and precast shipments sales volume (MT) | 797.4 | 713.8 | 11.7 | % | ||||||||
| In millions of S/ | ||||||||||||
| Sales of goods | 555.7 | 499.2 | 11.3 | % | ||||||||
| Gross profit | 234.4 | 183.4 | 27.8 | % | ||||||||
| Operating profit | 139.7 | 95.7 | 46.0 | % | ||||||||
| Net income | 81.9 | 52.7 | 55.4 | % | ||||||||
| Consolidated EBITDA | 177.9 | 134.7 | 32.1 | % | ||||||||
| Gross Margin | 42.2 | % | 36.7 | % | 5.5 pp. | |||||||
| Operating Margin | 25.1 | % | 19.2 | % | 5.9 pp. | |||||||
| Net income Margin | 14.7 | % | 10.6 | % | 4.1 pp. | |||||||
| Consolidated EBITDA Margin | 32.0 | % | 27.0 | % | 5.0 pp. | |||||||
You can review our historical results by clicking on the underlined titles
2
MANAGEMENT COMMENTS
During the first quarter of 2026, we achieved significant growth and demonstrated remarkable resilience. Our operational performance was solid, driving consolidated EBITDA to S/ 177.9 million, an outstanding 32.1% increase, resulting in an improved EBITDA margin of 32.0% (up from 27.0% in 1Q25). This operational efficiency, coupled with disciplined cost control strategies, directly contributed to a substantial rise in revenues to S/ 555.7 million, an 11.3% increase over the same period last year. Complementing this, our net profit rose by 55.4% to S/ 81.9 million as we continue to reduce our leverage.
Our dedication to sustainable development was once again recognized as we secured a position in the S&P Global Sustainability Yearbook 2026 for the sixth consecutive year. This year marks a historic achievement, as we entered the Global Top 10% of the construction materials industry, validating the evolution of our Environmental, Social, and Governance (ESG) management and reaffirming our commitment to leading the industry with responsibility.
In line with this commitment to sustainable development we are addressing the challenge of transforming vulnerable homes. We recently partnered with the Inter-American Cement Federation (FICEM) and Habitat for Humanity through a strategic collaboration agreement. This alliance integrates our local “Sueños en Concreto” (Dreams in Concrete) program into the Latin American initiative “100,000 Floors to Play on” (100 Mil Pisos para Jugar), strengthening our goal to replace dirt floors with concrete, thereby directly enhancing the health and quality of life for thousands of families in northern Peru. Through this alliance we will be able to positively impact more families, as we extend our reach, as well as better measurement of this impact, through the implementation of a qualitative impact study using data collection through surveys and water chemical testing, as well as training for survey teams and beneficiary families on water filter utilization and floor maintenance.
As we mentioned last quarter, our history of almost 70 years in northern Peru begins a transcendental chapter. The joining of our trajectory with Holcim, a global leader in sustainable construction with a presence in over 40 markets, marks a milestone in our evolution. This new stage opens opportunities for our teams, boosts their leadership, and promotes responsible construction, strengthening our solutions for all our clients. We express our sincere gratitude to the Grupo Hochschild Perú for the decades of work, vision, and leadership that forged the foundations upon which we continue to build today.
We conclude this quarter with optimism and the conviction that financial success is intrinsically linked to positive social impact. We are confident that our integration with Holcim will allow us to leverage global capabilities while maintaining our local essence, enabling us to go further and reaffirming our purpose: building together the future you dream of.
3
PERUVIAN CEMENT INDUSTRY OVERVIEW:
The demand for cement in Peru is covered mainly by Pacasmayo, UNACEM and Cementos Yura, and to a lesser extent by Caliza Inca, Holcim, imports and other small producers. Pacasmayo mainly covers the demand in the northern region of the country, while UNACEM covers the central region and Cementos Yura the southern region.(1)
The northern region of Peru, according to the Instituto Nacional de Estadística e Informática (INEI) and Apoyo Consultoría, represents approximately 32.9% of the country’s population and 20.0% of national Gross Domestic Product (“GDP”). Despite the country’s sustained growth over the last 10 years, Peru continues to have a significant housing deficit, estimated at 1.7 million households throughout the country as per the Ministry of Housing, Construction and Sanitation (80% qualitative and 20% quantitative deficit).
In Peru, the majority of cement is sold to a highly fragmented consumer base of individuals that tend to gradually buy bags of cement to build or to improve their homes, a segment the industry refers to as “self-construction”.
Northern Region (thousands of metric tons)
| Plant | 2022 | 2023 | 2024 | 2025 | Feb-26 LTM | % part | ||||||||||||||||||
| Pacasmayo Group | 3,437 | 2,951 | 2,835 | 3,049 | 3,084 | 22.5 | % | |||||||||||||||||
| Imports | 2 | - | - | - | - | 0.0 | % | |||||||||||||||||
| Total | 3,439 | 2,951 | 2,835 | 3,049 | 3,084 | 22.5 | % | |||||||||||||||||
Central Region (thousands of metric tons)
| Plant | 2022 | 2023 | 2024 | 2025 | Feb-26 LTM | % part | ||||||||||||||||||
| UNACEM | 6,297 | 5,617 | 5,462 | 5,597 | 5,678 | 41.4 | % | |||||||||||||||||
| Caliza Inca | 515 | 585 | 751 | 947 | 986 | 7.2 | % | |||||||||||||||||
| Imports | 202 | 145 | 206 | 352 | 264 | 1.9 | % | |||||||||||||||||
| Total | 7,014 | 6,347 | 6,419 | 6,896 | 6,928 | 50.6 | % | |||||||||||||||||
| (1) | On March 30, 2026, Holcim Ltd (“Holcim”) completed the acquisition of 99.99% of the capital stock of Inversiones Aspi S.A. (“ASPI”). Prior to this transaction, Eduardo Hochschild owned this 99.99% of ASPI. As a result of this transaction, through ASPI, Holcim now directly and indirectly, owns and controls 50.01% of Cementos Pacasmayo S.A.A. (the “Company”), which resulted in a change of control. |
4
Southern Region (thousands of metric tons)
| Plant | 2022 | 2023 | 2024 | 2025 | Feb-26 LTM | % part | ||||||||||||||||||
| Grupo Yura | 3,047 | 2,581 | 2,535 | 2,636 | 2,685 | 19.6 | % | |||||||||||||||||
| Imports | 67 | 65 | 68 | 223 | 208 | 1.5 | % | |||||||||||||||||
| Total | 3,114 | 2,646 | 2,603 | 2,859 | 2,893 | 21.1 | % | |||||||||||||||||
| Others | 427 | 423 | 562 | 790 | 813 | 5.9 | % | |||||||||||||||||
| Total, All Regions | 14,618 | 12,367 | 12,419 | 13,594 | 13,718 | 100.0 | % | |||||||||||||||||
| * | Import figures are sourced from Aduanet. They represent
quantities of imported cement, not shipped cement. Source: INEI, Aduanet |
5
OPERATING RESULTS:
Production:
Cement Production Volume
(thousands of metric tons)
| Production | ||||||||||||
| 1Q26 | 1Q25 | % Var. | ||||||||||
| Pacasmayo Plant | 478.6 | 429.6 | 11.4 | % | ||||||||
| Rioja Plant | 85.8 | 76.3 | 12.5 | % | ||||||||
| Piura plant | 220.3 | 209.8 | 5.0 | % | ||||||||
| Total | 784.7 | 715.7 | 9.6 | % | ||||||||
Driven by a transversal surge in demand, total cement production volume rose 9.6% in 1Q26 compared to 1Q25. This growth was reflected across all facilities, with production increasing 12.5% at the Rioja plant, 11.4% at Pacasmayo, and 5.0% at the Piura plant.
Clinker Production Volume
(thousands of metric tons)
| Production | ||||||||||||
| 1Q26 | 1Q25 | % Var. | ||||||||||
| Pacasmayo Plant | 337.5 | 292.0 | 15.6 | % | ||||||||
| Rioja Plant | 65.1 | 56.5 | 15.2 | % | ||||||||
| Piura Plant | 173.0 | 164.9 | 4.9 | % | ||||||||
| Total | 575.6 | 513.4 | 12.1 | % | ||||||||
Driven by the increase in cement demand across all of our regions, clinker production volumes saw significant upturns in 1Q26 compared to 1Q25. Production volumes rose by 15.6% and 15.2% at the Pacasmayo and Rioja plants, respectively, while the Piura facility recorded a 4.9% increase.
Clinker production volumes increased in 1Q26 compared to 1Q25, supported by higher cement demand across all of our regions. Particularly, in our Pacasmayo plant, production volumes increased 15.6%, driven mainly by a lower comparative basis in 1Q25, since we had a scheduled stoppage during that period.
Total clinker production volume in 1Q26, increased by 12.1% compared to 1Q25, mainly due to the increased cement demand of cement mentioned above.
6
INSTALLED CAPACITY:
Installed Clinker and Cement Capacity
Full year installed cement capacity at the Pacasmayo, Piura and Rioja plants remained stable at 2.9 million MT, 1.6 million MT and 440,000 MT, respectively.
Full year installed clinker capacity at the Pacasmayo, Piura and Rioja plants remained stable at 1.8 million MT, 990,000 MT and 289,080 MT, respectively.
UTILIZATION RATE:1
Pacasmayo Plant Utilization Rate
| Utilization Rate | ||||||||||||
| 1Q26 | 1Q25 | % Var. | ||||||||||
| Cement | 66.0 | % | 59.3 | % | 6.7 pp. | |||||||
| Clinker | 76.9 | % | 66.5 | % | 10.4 pp. | |||||||
Utilization rates at the Pacasmayo plant saw significant year-over-year gains during 1Q26, mainly due to stronger market demand, and to our annual production plan. Cement utilization increased 6.7 percentage points to 66.0%, while clinker utilization reached 76.9%, a 10.4 percentage point increase compared to 1Q25, reflecting the both increase in production to meet higher volume requirements, as well as the scheduled stoppage during 1Q25.
Rioja Plant Utilization Rate
| Utilization Rate | ||||||||||||
| 1Q26 | 1Q25 | % Var. | ||||||||||
| Cement | 78.0 | % | 69.4 | % | 8.6 pp. | |||||||
| Clinker | 90.1 | % | 78.2 | % | 11.9 pp. | |||||||
Driven by strong demand in its area of influence, the Rioja plant saw a significant year-over-year increase in its utilization rates during 1Q26. Cement utilization rate reached 78.0%, an 8.6 pp increase, while clinker utilization increased to 90.1%, an 11.9 pp increase, reflecting the surge in production to support demand.
| 1 | The utilization rates are calculated by dividing production in a given period over installed capacity. The utilization rate implies annualized production, which is calculated by multiplying real production for each quarter by four. |
7
Piura Plant Utilization Rate
| Utilization Rate | ||||||||||||
| 1Q26 | 1Q25% | Var. | ||||||||||
| Cement | 55.1 | % | 52.5 | % | 2.6 pp. | |||||||
| Clinker | 69.9 | % | 66.6 | % | 3.3 pp. | |||||||
In alignment with regional demand growth, 1Q26 utilization at the Piura facility outperformed 1Q25 levels. Cement production utilization increased by 2.6 percentage points to 55.1%, while clinker utilization increased 3.3 percentage points to 69.9% as output scaled to support total cement sales.
Consolidated Utilization Rate
| Utilization Rate | ||||||||||||
| 1Q26 | 1Q25 | % Var. | ||||||||||
| Cement | 63.5 | % | 58.0 | % | 5.5 pp. | |||||||
| Clinker | 75.9 | % | 67.7 | % | 8.2 pp. | |||||||
On a consolidated basis, utilization rates in 1Q26 followed the upward trend in market demand. Cement production utilization reached 63.5%—a 5.5 percentage point increase—while clinker utilization rose 8.2 percentage points to 75.9% compared to 1Q25, reflecting the overall ramp-up in operations to meet regional requirements.
8
FINANCIAL RESULTS:
Income Statement:
The following table shows a summary of the Consolidated Financial Results:
Consolidated Financial Results
(in millions of Soles S/)
| Income Statement | ||||||||||||
| 1Q26 | 1Q25 | % Var. | ||||||||||
| Sales of goods | 555.7 | 499.2 | 11.3 | % | ||||||||
| Gross Profit | 234.4 | 183.4 | 27.8 | % | ||||||||
| Total operating expenses, net | -94.7 | -87.7 | 8.0 | % | ||||||||
| Operating Profit | 139.7 | 95.7 | 46.0 | % | ||||||||
| Total other expenses, net | -21.7 | -21.7 | 0.0 | % | ||||||||
| Profit before income tax | 118.0 | 74.0 | 59.5 | % | ||||||||
| Income tax expense | -36.1 | -21.3 | 69.5 | % | ||||||||
| Profit for the period | 81.9 | 52.7 | 55.4 | % | ||||||||
During 1Q26, revenues increased 11.3% compared to 1Q25, mainly due to higher cement and concrete sales.
Gross profit increased 27.8% in 1Q26 compared to 1Q25, mainly reflecting gross margin expansion in the cement and concrete businesses, as we were able to achieve some operational efficiencies derived from reduced downtime costs, lower costs of bags and energy, among others. Profit for the period increased 55.4% in 1Q26 compared to 1Q25, mainly due to the higher operating profit mentioned above, as well as lower financing expenses due to lower debt levels.
SALES OF GOODS
The following table shows the Sales of Goods and their respective margins by business segment:
Sales: cement, concrete and precast
(in millions of Soles S/)
| Cement, concrete and precasts | ||||||||||||
| 1Q26 | 1Q25 | % Var. | ||||||||||
| Sales of goods | 539.0 | 486.3 | 10.8 | % | ||||||||
| Cost of Sales | -302.6 | -300.8 | 0.6 | % | ||||||||
| Gross Profit | 236.4 | 185.5 | 27.4 | % | ||||||||
| Gross Margin | 43.9 | % | 38.1 | % | 5.8 pp. | |||||||
Combined sales of cement, concrete, and precast rose 10.8% year-over-year in 1Q26, primarily driven by strong demand in the cement and concrete segments. Gross margin expanded by 5.8 percentage points compared to 1Q25, reflecting a more favorable sales mix. This improvement was bolstered by a higher share of cement sales, specialized concrete services for the Yanacocha project, and enhanced cost efficiencies across both business lines.
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Sales: cement
(in millions of Soles S/)
Sales of cement represented 86.5% of cement, concrete and precast sales during 1Q26.
| Cement | ||||||||||||
| 1Q26 | 1Q25 | % Var. | ||||||||||
| Sales of goods | 466.4 | 402.2 | 16.0 | % | ||||||||
| Cost of Sales | -241.4 | -215.3 | 12.1 | % | ||||||||
| Gross Profit | 225.0 | 186.9 | 20.4 | % | ||||||||
| Gross Margin | 48.2 | % | 46.5 | % | 1.7 pp. | |||||||
Cement revenues increased 16.0% in 1Q26 compared to 1Q25, mainly due to higher sales volumes of bagged cement for the self-construction segment. Gross margin was 48.2% in 1Q26, 1.7 percentage points higher compared to 1Q25, reflecting higher sales volumes, a slight improvement in average price and lower cost of sales per ton, mainly explained by lower downtime cost and costs of bagging supplies.
Sales: concrete, pavement and mortar
(in millions of Soles S/)
Sales of concrete, pavement and mortar represented 12.2% of cement, concrete, and precast sales during 1Q26.
| Concrete, pavement and mortar | ||||||||||||
| 1Q26 | 1Q25 | % Var. | ||||||||||
| Sales of goods | 66.0 | 77.8 | -15.2 | % | ||||||||
| Cost of Sales | -55.2 | -79.3 | -30.4 | % | ||||||||
| Gross Profit | 10.8 | -1.5 | N/R | |||||||||
| Gross Margin | 16.4 | % | -1.9 | % | 18.3 pp. | |||||||
Combined sales of concrete, pavement, and mortar decreased 15.2% in 1Q26, primarily due to a high comparative base in 1Q25 which included significant volumes from the Piura airport project. Despite this decline in volume, gross margin expanded by a remarkable 18.3 percentage points. This surge reflects a ‘regularization’ of profitability as the segment shifted away from the low-margin Piura airport works toward the Yanacocha project, which requires more specialized concrete solutions with significantly higher margins
10
Sales: precast
(in millions of Soles S/)
Sales of precast represented 1.3% of cement, concrete, and precast sales during 1Q26.
| Precast | ||||||||||||
| 1Q26 | 1Q25 | % Var. | ||||||||||
| Sales of goods | 6.6 | 6.3 | 4.8 | % | ||||||||
| Cost of Sales | -6.0 | -6.2 | -3.2 | % | ||||||||
| Gross Profit | 0.6 | 0.1 | N/R | |||||||||
| Gross Margin | 9.1 | % | 1.6 | % | 7.5 pp. | |||||||
During 1Q26, precast sales increased 4.8%, compared to 1Q25, and gross margin increased 7.5 percentage points, mainly due to an increase in sales volumes to the public sector and consequently higher dilution of fixed costs.
Sales: Construction Supplies2
(in millions of Soles S/)
| Construction Supplies | ||||||||||||
| 1Q26 | 1Q25 | % Var. | ||||||||||
| Sales of goods | 9.4 | 10.0 | -6.0 | % | ||||||||
| Cost of Sales | -9.2 | -9.7 | -5.2 | % | ||||||||
| Gross Profit | 0.2 | 0.3 | -33.3 | % | ||||||||
| Gross Margin | 2.1 | % | 3.0 | % | -0.9 pp. | |||||||
During 1Q26, construction supply sales decreased 6.0%, when compared to 1Q25, mainly due to decreased sales of steel bars. Gross margin decreased 0.9 percentage points, maintaining in line with 1Q25.
OPERATING EXPENSES:
Administrative Expenses
(in millions of Soles S/)
| Administrative Expenses | ||||||||||||
| 1Q26 | 1Q25 | % Var. | ||||||||||
| Personnel expenses | 39.3 | 40.6 | -3.2 | % | ||||||||
| Third-party services | 20.7 | 19 | 8.9 | % | ||||||||
| Board of Directors | 1.4 | 1.5 | -6.7 | % | ||||||||
| Depreciation and amortization | 3.6 | 3.8 | -5.3 | % | ||||||||
| Other | 4.5 | 5.1 | -11.8 | % | ||||||||
| Total | 69.5 | 70.0 | -0.7 | % | ||||||||
Administrative expenses decreased 0.7% in 1Q26 compared to 1Q25, mainly due to lower personnel expenses, primarily reflecting a lower collective bargaining bonus than in 1Q25.
| 2 | Construction supplies include the following products: steel rebar, wires, nails, corrugated iron, electric conductors, plastic tubes and accessories, among others. |
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Selling Expenses
(in millions of Soles S/)
| Selling and distribution expenses | ||||||||||||
| 1Q26 | 1Q25 | % Var. | ||||||||||
| Personnel expenses | 12.6 | 11.7 | 7.7 | % | ||||||||
| Advertising and promotion | 7.3 | 5.1 | 43.1 | % | ||||||||
| Third party services | 3.5 | 2.9 | 20.7 | % | ||||||||
| Information technology related services | 0.6 | 0.4 | 50.0 | % | ||||||||
| Depreciation and amortization | 1.6 | 1.3 | 23.1 | % | ||||||||
| Other | 4.7 | 1.3 | N/R | |||||||||
| Total | 30.3 | 22.7 | 33.5 | % | ||||||||
Selling expenses increased 33.5% in 1Q26 compared to 1Q25, mainly due to higher advertising and promotion expenses, related to trade marketing and loyalty programs for affiliated retailers.
EBITDA RECONCILIATION:
Consolidated EBITDA
(in millions of Soles S/)
| Consolidated EBITDA | ||||||||||||
| 1Q26 | 1Q25 | % Var. | ||||||||||
| Net Income | 81.9 | 52.7 | 55.4 | % | ||||||||
| + Income tax expense | 36.1 | 21.3 | 69.5 | % | ||||||||
| - Finance income | -0.4 | -0.6 | -33.3 | % | ||||||||
| + Finance costs | 21.7 | 23.1 | -6.1 | % | ||||||||
| +/- Net gain from exchange rate | 0.4 | -0.8 | N/R | |||||||||
| + Depreciation and amortization | 38.2 | 39.0 | -2.1 | % | ||||||||
| Consolidated EBITDA | 177.9 | 134.7 | 32.1 | % | ||||||||
Consolidated EBITDA rose 32.1% year-over-year in 1Q26, primarily driven by a robust gross profit performance. This growth reflects the combined impact of higher sales volumes, modest price adjustments in the cement segment, and a significant reduction in unit costs across our cement and concrete business lines.
Cash and Debt Position:
Consolidated Cash (in millions of Soles S/)
As of March 31, 2026, the cash balance was S/78.6 million (US$ 22.5 million). This balance includes certificates of deposit in the amount of S/ 21.3 million (US$ 6.1 million), distributed as follows:
Certificates of deposits in Soles
| Bank | Amount (S/) | Interest Rate | Initial Date | Maturity Date | ||||||||||||
| Banco de Crédito del Perú | S/ 21.3 | 3.75 | % | March 30, 2026 | April 6, 2026 | |||||||||||
| S/ 21.3 | ||||||||||||||||
The remaining balance of S/ 57.3 million (US$ 16.4 million) is held mainly in the Company’s bank accounts, of which US$ 9.0 million are denominated in US dollars and the balance in Soles.
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DEBT POSITION:
Consolidated Debt
(in millions of Soles S/)
| Payments due by period | ||||||||||||||||||||
| Less than 1 year | 1-3 Years | 3-5 Years | More than 5 Years | Total | ||||||||||||||||
| Indebtedness | 586.6 | 273.6 | 384.0 | 186.0 | 1,430.2 | |||||||||||||||
| Future interest payments | 73.2 | 93.0 | 36.1 | 22.3 | 224.6 | |||||||||||||||
| Total | 659.8 | 366.6 | 420.1 | 208..3 | 1,654.8 | |||||||||||||||
Below are the contractual obligations with payment deadlines related to the Company’s debt, including interest.
As of March 31, 2026, the Company’s total outstanding debt, as shown in the financial statements, reached S/ 1,426.4 million (US$ 408.1 million). This debt is mainly composed of two local bonds issued in January 2019 and the club deal obtained in 2021.
As of March 31, 2026, Net Debt/EBITDA ratio was 2.6 times.
Capex
(in millions of Soles S/)
As of March 31, 2026, the Company invested S/ 12.4 million (US$ 3.6 million), allocated to the following projects:
| Projects | 1Q26 | |||
| Pacasmayo Plant Projects | 7.3 | |||
| Concrete and aggregates equipment | 3.4 | |||
| Rioja Plant Projects | 0.5 | |||
| Piura Plant Projects | 1.2 | |||
| Total | 12.4 | |||
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ABOUT CEMENTOS PACASMAYO S.A.A.
Cementos Pacasmayo S.A.A. is a cement company, located in the Northern region of Peru. In February 2012, the Company’s shares were listed on The New York Stock Exchange - Euronext under the ticker symbol “CPAC”. With almost 70 years of operating history, the Company produces, distributes and sells cement and cement-related materials, such as ready-mix concrete and precast materials. Pacasmayo’s products are primarily used in construction, which has been one of the fastest-growing segments of the Peruvian economy in recent years. The Company also produces and sells quicklime for use in mining operations.
For more information, please visit: http://www.cementospacasmayo.com.pe/
Note: The Company presented some figures converted from Soles to U.S. Dollars for comparison purposes. The exchange rate used to convert Soles to U.S. dollars was S/ 3.486 per US$ 1.00, which was the average exchange rate, reported as of March 31, 2026, by the Superintendencia de Banca, Seguros y AFPs (SBS). The information presented in U.S. dollars is for the convenience of the reader only. Certain figures included in this report have been subject to rounding adjustments. Accordingly, figures shown as totals in certain tables may not be arithmetic aggregations of the figures presented in previous quarters.
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, Company performance and financial results. Also, certain reclassifications have been made to make figures comparable for the periods. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.
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INTERIM CONSOLIDATED UNAUDITED STATEMENTS OF FINANCIAL POSITION
As of March 31, 2026 (unaudited) and December 31,2025 (audited)
| As of Mar-26 | As of Dec-25 | |||||||
| S/ (000) | S/ (000) | |||||||
| Cash and cash equivalents | 78,573 | 53,571 | ||||||
| Trade and other receivables,net | 143,164 | 146,674 | ||||||
| Income tax prepayments | 48,727 | 24,857 | ||||||
| Inventories | 695,442 | 707,143 | ||||||
| Prepayments | 37,040 | 17,503 | ||||||
| Total current assets | 1,002,946 | 949,748 | ||||||
| Trade and other receivables, net | 29,623 | 28,450 | ||||||
| Financial instruments designated at fair value through OCI | 71 | 163 | ||||||
| Property, plant and equipment, net | 1,980,943 | 2,005,714 | ||||||
| Intangible assets, net | 61,408 | 62,800 | ||||||
| Goodwill | 4,459 | 4,459 | ||||||
| Deferred income tax assets | 35,027 | 34,994 | ||||||
| Right-of-use asset, net | 15,627 | 16,988 | ||||||
| Other assets | 52 | 50 | ||||||
| Total non-current assets | 2,127,210 | 2,153,618 | ||||||
| Total assets | 3,130,156 | 3,103,366 | ||||||
| Trade and other payables | 250,209 | 283,907 | ||||||
| Financial obligations | 585,346 | 532,346 | ||||||
| Lease liabilities | 4,856 | 4,879 | ||||||
| Income tax payable | 2,122 | 3,784 | ||||||
| Provisions | 12,590 | 47,689 | ||||||
| Total current liabilities | 855,123 | 872,605 | ||||||
| Financial obligations | 841,046 | 879,809 | ||||||
| Lease liabilities | 10,612 | 11,350 | ||||||
| Provisions | 31,562 | 29,005 | ||||||
| Deferred income tax liabilities | 118,567 | 119,232 | ||||||
| Total non-current liabilities | 1,001,787 | 1,039,396 | ||||||
| Total liabilities | 1,856,910 | 1,912,001 | ||||||
| Capital stock | 423,868 | 423,868 | ||||||
| Investment shares | 40,279 | 40,279 | ||||||
| Investment shares held in Treasury | (121,258 | ) | (121,258 | ) | ||||
| Additional paid-in capital | 432,779 | 432,779 | ||||||
| Legal reserve | 168,636 | 168,636 | ||||||
| Other accumulated comprehensive results (loss) | (17,031 | ) | (16,966 | ) | ||||
| Retained earnings | 345,973 | 264,027 | ||||||
| Total Equity | 1,273,246 | 1,191,365 | ||||||
| Total liability and equity | 3,130,156 | 3,103,366 | ||||||
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INTERIM CONSOLIDATED UNAUDITED STATEMENTS OF PROFIT OR LOSS
For the three-month periods ended March 31, 2026, and 2025 (unaudited)
| 1Q26 | 1Q25 | |||||||
| S/ (000) | S/ (000) | |||||||
| Sales of goods | 555,669 | 499,168 | ||||||
| Cost of sales | (321,280 | ) | (315,810 | ) | ||||
| Gross profit | 234,389 | 183,358 | ||||||
| Operating (expenses) income | ||||||||
| Administrative expenses | (69,497 | ) | (69,987 | ) | ||||
| Selling and distribution expenses | (30,259 | ) | (22,712 | ) | ||||
| Other operating income, net | 5,053 | 4,978 | ||||||
| Total operating expenses , net | (94,703 | ) | (87,721 | ) | ||||
| Operating profit | 139,686 | 95,637 | ||||||
| Other income (expenses) | ||||||||
| Finance income | 398 | 644 | ||||||
| Financial costs | (21,653 | ) | (23,131 | ) | ||||
| (Loss) gain from exchange difference, net | (412 | ) | 791 | |||||
| Total other expenses, net | (21,667 | ) | (21,696 | ) | ||||
| Profit before income tax | 118,019 | 73,941 | ||||||
| Income tax expense | (36,073 | ) | (21,268 | ) | ||||
| Profit for the period | 81,946 | 52,673 | ||||||
| Earnings per share | ||||||||
| Basic profit for the period attributable to equity holders of common shares and investment in shares of the parent. (S/ per share) | 0.19 | 0.12 | ||||||
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INTERIM CONSOLIDATED UNAUDITED STATEMENTS OF CHANGES IN EQUITY
For the three-month period ended March 31, 2026, and March 31, 2025 (unaudited)
| Attributable to equity holders of the parent | ||||||||||||||||||||||||||||||||
| Capital S/(000) | Investment Shares S/(000) | Investments Shares hold in Treasury S/(000) | Additional paid-in capital S/(000) | Legal reserve S/(000) | Unrealized loss in financial instruments designated at fair value S/ (000) | Retained earnings S/ (000) | Total S/ (000) | |||||||||||||||||||||||||
| Balance as of January 1, 2025 | 423,868 | 40,279 | (121,258 | ) | 432,779 | 168,636 | (16,551 | ) | 285,345 | 1,213,098 | ||||||||||||||||||||||
| Profit for the year | - | - | - | - | - | - | 52,673 | 52,673 | ||||||||||||||||||||||||
| Other comprehensive loss | - | - | - | - | - | (45 | ) | - | (45 | ) | ||||||||||||||||||||||
| Total comprehensive income | - | - | - | - | - | (45 | ) | 52,673 | 52,628 | |||||||||||||||||||||||
| Balance as of March 31, 2025 | 423,868 | 40,279 | (121,258 | ) | 432,779 | 168,636 | (16,596 | ) | 338,018 | 1,265,726 | ||||||||||||||||||||||
| Balance as of January 1, 2026 | 423,868 | 40,279 | (121,258 | ) | 432,779 | 168,636 | (16,966 | ) | 264,027 | 1,191,365 | ||||||||||||||||||||||
| Profit for the year | - | - | - | - | - | - | 81,946 | 81,946 | ||||||||||||||||||||||||
| Other comprehensive loss | - | - | - | - | - | (65 | ) | - | (65 | ) | ||||||||||||||||||||||
| Total comprehensive income | - | - | - | - | - | (65 | ) | 81,946 | 81,881 | |||||||||||||||||||||||
| Balance as of March 31, 2026 | 423,868 | 40,279 | (121,258 | ) | 432,779 | 168,636 | (17,031 | ) | 345,973 | 1,273,246 | ||||||||||||||||||||||
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