Cementos Pacasmayo S.A.A. and Subsidiaries

Unaudited interim condensed consolidated financial statements as of March 31, 2024 and for the three-month period then ended

Firmado Digitalmente por:

CARLOS JOSE MOLINELLI MATEO Fecha: 29/04/2024 06:09:17 p.m.

Cementos Pacasmayo S.A.A. and Subsidiaries

Unaudited interim condensed consolidated financial statements as of March 31, 2024 and for the three-month period then ended

Content

Report on review of interim condensed consolidated unaudited financial statements

Interim condensed consolidated unaudited financial statements

Interim condensed consolidated unaudited statements of financial position Interim condensed consolidated unaudited statements of profit or loss

Interim condensed consolidated unaudited statements of other comprehensive income Interim condensed consolidated unaudited statements of changes in equity

Interim condensed consolidated unaudited statements of cash flows

Notes to the interim condensed consolidated unaudited financial statements

Tanaka, Valdivia & Asociados

Sociedad Civil de R. L

Report on review of interim condensed consolidated unaudited financial statements

To the Board of Directors and Shareholders of Cementos Pacasmayo S.A.A.

Introduction

We have reviewed the accompanying interim condensed consolidated unaudited statement of financial position of Cementos Pacasmayo S.A.A. and its Subsidiaries (together the "Group") as of March 31, 2024, and the related interim condensed consolidated unaudited statements of profit or loss, other comprehensive income, changes in equity and cash flows for the three-month period then ended, and explanatory notes. Management is responsible for the preparation and presentation of these interim condensed consolidated unaudited financial statements in accordance with IAS 34 Interim Financial Reporting (IAS 34). Our responsibility is to express a conclusion on these interim condensed consolidated unaudited financial statements based on our review.

Scope of review

We conducted our review in accordance with International Auditing Standard on Review Engagements (ISRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity. A review of interim financial information consists of making inquiries, primarily of the persons responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Report on review of interim condensed consolidated unaudited financial

statements (continued)

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed consolidated unaudited financial statements are not prepared, in all material respects, in accordance with IAS 34.

Lima, Peru

April 29, 2024

Countersigned by:

Manuel Arribas

C.P.C.C. Register No. 45987

Cementos Pacasmayo S.A.A. and Subsidiaries

Interim condensed consolidated unaudited statements of financial position

As of March 31, 2024 (unaudited) and December 31, 2023 (audited)

As of

As of

March 31,

December 31,

Note

2024

2023

S/(000)

S/(000)

Assets

Current assets

Cash and cash equivalents

3

55,325

90,193

Trade and other receivables

4

136,950

99,688

Income tax prepayments

3,474

4,485

Inventories

5

772,824

791,074

Prepayments

33,534

6,809

__________

__________

Total current asset

1,002,107

992,249

__________

__________

Non-current assets

Trade and other receivables

4

43,290

43,397

Financial instruments designated at fair value

through other comprehensive income

14

604

249

Property, plant and equipment

6

2,077,054

2,099,351

Intangible assets

62,019

62,920

Goodwill

4,459

4,459

Deferred income tax assets

12,550

11,428

Right-of-use asset, net

6,977

7,609

Other assets

71

73

__________

__________

Total non-current asset

2,207,024

2,229,486

__________

__________

Total assets

3,209,131

3,221,735

__________

__________

Liability and equity

Current liabilities

Trade and other payables

7

222,717

231,511

Financial obligations

8 and 14

420,346

383,146

Lease liabilities

3,547

3,999

Income tax payables

6,185

14,222

Provisions

9

7,404

56,510

__________

__________

Total current liabilities

660,199

689,388

__________

__________

Non-current liabilities

Financial obligations

8 and 14

1,151,117

1,189,880

Lease liabilities

3,875

4,130

Non-current provisions

9

28,255

27,453

Deferred income tax liabilities

126,239

120,876

__________

__________

Total non-current liabilities

1,309,486

1,342,339

__________

__________

Total liability

1,969,685

2,031,727

__________

__________

Equity

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 loss

(16,290)

(16,290)

Retained earnings

311,432

261,994

__________

__________

Total equity

1,239,446

1,190,008

__________

__________

Total liability and equity

3,209,131

3,221,735

__________

__________

The accompanying notes are an integral part of the interim condensed consolidated unaudited financial statements.

Cementos Pacasmayo S.A.A. and Subsidiaries

Interim condensed consolidated unaudited statements of profit or loss

For the three-month period ended March 31, 2024 and March 31, 2023 (unaudited)

For the three-month period

ended March 31,

Note

2024

2023

S/(000)

S/(000)

Sales of goods

11

476,549

479,995

Cost of sales

(302,696)

(319,400)

_________

_________

Gross profit

173,853

160,595

_________

_________

Operating income (expense)

Administrative expenses

(57,187)

(57,729)

Selling and distribution expenses

(19,076)

(17,534)

Other operating income (expense), net

(2,630)

1,403

_________

_________

Total operating expenses, net

(78,893)

(73,860)

_________

_________

Operating profit

94,960

86,735

_________

_________

Other income (expenses)

Finance income

1,327

1,355

Finance costs

(25,716)

(25,721)

Net profit for valuation of trading derivative financial

instruments

14 (a)

-

19

(Loss) gain from exchange difference, net

(22)

823

_________

_________

Total other expenses, net

(24,411)

(23,524)

_________

_________

Profit before income tax

70,549

63,211

Income tax expense

10

(21,111)

(19,719)

_________

_________

Profit for the period

49,438

43,492

_________

_________

Earnings per share

Basic profit for the period attributable to equity

holders of common shares and investment shares

of the parent (S/ per share)

13

0.12

0.10

The accompanying notes are an integral part of the interim condensed consolidated unaudited financial statements.

Cementos Pacasmayo S.A.A. and Subsidiaries

Interim condensed consolidated unaudited statements of other comprehensive income

For the three-month period ended March 31, 2024 and March 31, 2023 (unaudited)

For the three-month period

ended March 31,

Note

2024

2023

S/(000)

S/(000)

Profit for the period

49,438

43,492

_________

_________

Other comprehensive income

Other comprehensive income to be reclassified to

profit or loss in subsequent periods:

Net gain on cash flow hedges

14(a)

-

2,154

Deferred income tax

10

-

(634)

_________

_________

Other comprehensive income for the period, net of

income tax

-

1,520

_________

_________

Total comprehensive income for the period, net of

income tax

49,438

45,012

_________

_________

The accompanying notes are an integral part of the interim condensed consolidated unaudited financial statements.

Cementos Pacasmayo S.A.A. and Subsidiaries

Interim condensed consolidated unaudited statements of changes in equity

For the three-month period ended March 31, 2024 and March 31, 2023 (unaudited)

Unrealized loss

on financial

Investments

instruments

Unrealized gain

Capital

Investment

shares held in

Additional paid-

Legal

designated at

(loss) on

Retained

Total

stock

shares

treasury

in capital

reserve

fair value

cash flow hedge

earnings

equity

S/(000)

S/(000)

S/(000)

S/(000)

S/(000)

S/(000)

S/(000)

S/(000)

S/(000)

Balance as of January 1, 2023

423,868

40,279

(121,258)

432,779

168,636

(16,267)

(1,520)

268,618

1,195,135

Profit for the period

-

-

-

-

-

-

-

43,492

43,492

Other comprehensive income for the period, net of

income tax

-

-

-

-

-

-

1,520

-

1,520

Others

-

-

-

-

_________

(5)

-

-

(5)

_________

_________

_________

_________

_________

_________

_________

_________

Total comprehensive income

-

-

-

-

-

(5)

1,520

43,492

45,007

_________

_________

_________

_________

_________

_________

_________

_________

__________

Balance as of March 31, 2023

423,868

40,279

(121,258)

432,779

168,636

(16,272)

-

312,110

1,240,142

_________

_________

_________

_________

_________

_________

_________

_________

__________

Balance as of January 1, 2024

423,868

40,279

(121,258)

432,779

168,636

(16,290)

-

261,994

1,190,008

Profit for the period

-

-

-

-

-

-

-

49,438

49,438

_________

_________

_________

_________

_________

_________

_________

_________

_________

Total comprehensive income

-

-

-

-

-

-

-

49,438

49,438

_________

_________

_________

_________

_________

_________

_________

_________

__________

Balance as of March 31, 2024

423,868

40,279

(121,258)

432,779

168,636

(16,290)

-

311,432

1,239,446

_________

_________

_________

_________

_________

_________

_________

_________

__________

The accompanying notes are an integral part of the interim condensed consolidated unaudited financial statements.

Cementos Pacasmayo S.A.A. and Subsidiaries

Interim condensed consolidated unaudited statements of cash flows

For the three-month period ended March 31, 2024 and March 31, 2023 (unaudited)

For the three-month period

Note

ended March 31,

2024

2023

S/(000)

S/(000)

Operating activities

Profit before income tax

70,549

63,211

Non-cash adjustments to reconcile profit before

income tax to net cash flows provided by

operating activities

Depreciation and amortization

37,839

33,943

Finance costs

25,716

25,721

Long-term incentive plan

12

1,792

2,068

Estimate expected credit loss

4

1,561

1,284

Unrealized exchange difference related to

monetary transactions

345

148

Finance income

(1,327)

(1,355)

Net gain on disposal of property, plant and

equipment

6

(34)

(111)

Gain on the valuation of trading derivative financial

instruments

-

(19)

Other items that do not generate operating flows,

net

412

696

Working capital adjustments

Increase in trade and other receivables

(38,727)

(1,177)

Increase in prepayments

(26,724)

(4,672)

Decrease (increase) in inventories

18,022

(45,812)

Decrease in trade and other payables

(40,783)

(65,162)

_________

_________

48,641

8,763

Interest received

1,295

1,370

Interest paid

(41,401)

(36,274)

Income tax paid

(23,902)

(32,953)

_________

_________

Net cash flows used in operating activities

(15,367)

(59,094)

_________

_________

Interim condensed consolidated unaudited statements of cash flows

(continued)

For the three-month period

Note

ended March 31,

___________________________

2024

2023

S/(000)

S/(000)

Investing activities

Purchase of property, plant and equipment

(13,705)

(75,579)

Purchase of intangibles assets

(2,349)

(4,027)

Purchase of investments available for sale

(355)

-

Proceeds from sale of property, plant and

equipment

95

330

Loan to third party

-

(370)

_________

_________

Net cash flows used in investing activities

(16,314)

(79,646)

_________

_________

Financing activities

Paid bank loans

8

(153,091)

(507,338)

Payment of lease liabilities

(756)

(626)

Dividends paid

(184)

(263)

Loan received

8

151,200

525,000

Payment of bank overdraft

-

(85,333)

Payment of hedge finance cost

-

(7,708)

Proceeds from sale of derivative financial

instruments

-

93,323

Proceeds from bank overdraft

-

85,333

_________

_________

Net cash flows (used in) provided by financing

activities

(2,831)

102,388

_________

_________

Net decrease in cash and cash equivalents

(34,512)

(36,352)

Net foreign exchange difference

(356)

(148)

Cash and cash equivalents at the beginning of the

period

90,193

81,773

_________

_________

Cash and cash equivalents at the end of the period

3

55,325

45,273

_________

_________

Transactions with no effect in cash flows:

Outstanding accounts payable related to acquisition

6

7,582

11,415

of property, plant and equipment

Unrealized exchange difference related to monetary

transactions

345

148

The accompanying notes are an integral part of the interim condensed consolidated unaudited financial statements.

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Cementos Pacasmayo SAA published this content on 29 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 April 2024 00:25:11 UTC.