CEMENTOS PACASMAYO SAA (CPAC) Company Report

Analyst Coverage

Research analysts who have asked questions during CEMENTOS PACASMAYO SAA earnings calls.

Marcelo Furlan Palhares

Itau BBA

4 questions for CPAC

Also covers: LOMA

Omar Avellaneda

Vinci Compass

4 questions for CPAC

Also covers: NEXA

Gabriel Ramos

Kaupa

2 questions for CPAC

Gerard Fort

AFP Integra

2 questions for CPAC

Johan Clavijo

Sego Capital

2 questions for CPAC

Mariana Taddeo

Credicorp

2 questions for CPAC

Latest news

Recent press releases and 8-K filings for CPAC.

Cementos Pacasmayo S.A.A. Releases Q4 2025 Financials and Announces Majority Shareholder Sale Agreement

CPAC

M&A

Earnings

Capital Management

Cementos Pacasmayo S.A.A. (CPAC) released its audited consolidated financial statements for the year ended December 31, 2025, which received a clean opinion from its independent registered accounting firm.
On December 16, 2025, Inversiones ASPI S.A., CPAC's majority shareholder, entered into an agreement to sell 99.99% of its shares to Holcim Ltd., with the transaction pending relevant regulatory approvals as of December 31, 2025.
The Group's capital management successfully avoided breaches in financial covenants for its Senior Notes in any of the years presented, and management identified no indications of impairment for long-lived assets as of December 31, 2025 and 2024.

Feb 13, 2026, 9:14 PM

6-K

Cementos Pacasmayo Reports Q4 and Full-Year 2025 Results and Holcim Acquisition of Controlling Stake

CPAC

Earnings

M&A

Guidance Update

Cementos Pacasmayo announced that Holcim will acquire Inversiones ASPI, which holds a 50.01% controlling stake in the company, for PEN 5.1 billion, representing 9x record EBITDA based on the last twelve months ending July 2025. The transaction, announced on December 16, is pending regulatory approvals and is expected to close in the upcoming months.
For Q4 2025, revenue increased by 6.2% year-over-year to PEN 559.5 million, contributing to a 7% growth in full-year 2025 revenue compared to 2024.
Excluding one-off transactional expenses, EBITDA for Q4 2025 increased by 11.4% to PEN 158.7 million, and full-year 2025 EBITDA reached an all-time high of PEN 584.2 million, a 6.4% year-over-year increase.
The company expects stronger volumes and stable to increasing EBITDA margins in 2026, driven by efficiencies such as energy-saving projects.

Feb 13, 2026, 2:30 PM

Transcript

Cementos Pacasmayo Reports Q4 and Full-Year 2025 Results, Announces Holcim Acquisition of Controlling Stake

CPAC

Earnings

M&A

Guidance Update

**Holcim announced an agreement to acquire Inversiones ASPI, which holds a 50.01% controlling stake in Cementos Pacasmayo, for PEN 5.1 billion, representing a 9x record EBITDA multiple based on the last twelve months ending July 2025; the transaction is pending regulatory approvals. **
**Cementos Pacasmayo reported an 8.2% increase in sales volumes for Q4 2025 year-over-year, contributing to a 7.2% increase for the full year 2025 compared to 2024. **
**Consolidated revenues for Q4 2025 grew by 6.2% year-over-year to PEN 559.5 million, with full-year 2025 revenues increasing by 7% over 2024. **
**Excluding one-off transactional expenses, Q4 2025 EBITDA rose 11.4% to PEN 158.7 million, and full-year 2025 EBITDA reached a record PEN 584.2 million, up 6.4% year-over-year. **
**The company anticipates stronger volumes and stable to slightly higher EBITDA margins in 2026, driven by expected efficiencies from energy-saving projects. **

Feb 13, 2026, 2:30 PM

Transcript

Cementos Pacasmayo Reports Record 2025 EBITDA and Announces Holcim Acquisition of Controlling Stake

CPAC

M&A

Earnings

Guidance Update

Holcim announced an agreement to acquire Inversiones ASPI's 50.01% controlling stake in Cementos Pacasmayo for PEN 5.1 billion, valued at 9x record EBITDA (calculated based on the last twelve months ending in July 2025), with the transaction pending regulatory approvals.
Cementos Pacasmayo reported strong sales volume growth, with an 8.2% increase in Q4 2025 year-over-year and a 7.2% increase for the full year 2025 compared to 2024, primarily driven by infrastructure projects and the self-construction segment.
Excluding one-off transactional expenses, consolidated EBITDA increased 11.4% to PEN 158.7 million in Q4 2025 and reached a record high of PEN 584.2 million for the full year 2025, marking a 6.4% year-over-year increase. Net income for full year 2025, excluding these expenses, would have been PEN 231.8 million, up 16.5% from 2024.
The company expects stronger volumes and stable to slightly higher EBITDA margins in 2026, with potential enhancements from energy-saving projects in the second half of the year.

Feb 13, 2026, 2:30 PM

Transcript

Cementos Pacasmayo Reports Q4 2025 LTM Financial and Operational Results

CPAC

Earnings

New Projects/Investments

Cementos Pacasmayo reported LTM Dec 31, 2025 sales of goods of S/2,116.9 million, a 7.0% increase compared to LTM Dec 31, 2024, alongside EBITDA of S/506.6 million, which represents a 7.8% decrease over the same prior period.
The company's cement, concrete, and precast shipments for LTM Dec 31, 2025, reached 3,049.2 thousand MT, an increase of 7.2% compared to LTM Dec 31, 2024.
As of 2025, the company's total adjusted debt was S/1,412.2 million, with a net leverage of 2.8 times EBITDA.
Cementos Pacasmayo, a leading Peruvian cement company, has a combined cement production capacity of 4.9 MM MT/year and achieved a total cement utilization rate of 61.8% for 2025 LTM.

Feb 13, 2026, 2:30 PM

Presentation

Cementos Pacasmayo S.A.A. Announces Q4 and Full Year 2025 Results and Holcim Agreement

CPAC

Earnings

M&A

Cementos Pacasmayo S.A.A. announced that Holcim signed an agreement to purchase Inversiones Aspi S.A., which controls 50.01% of the company, for a valuation of S/ 5,100 million. The transaction is subject to regulatory approval and is estimated to close in the first half of 2026.
For the fourth quarter of 2025 (4Q25), revenues increased by 6.2% and consolidated EBITDA (excluding transaction-related expenses) rose by 11.4% to S/ 158.7 million. Including these expenses, the company reported a net loss of S/ 17.8 million.
For the full year 2025, revenues increased by 7.0% and consolidated EBITDA (excluding transaction-related expenses) grew by 6.4% to S/ 584.2 million. Full-year net income was S/ 154.2 million.
Sales volume of cement, concrete, and precast increased by 8.2% in 4Q25 and 7.2% for the full year 2025.

Feb 13, 2026, 1:54 AM

6-K

Cementos Pacasmayo S.A.A. Reports Strong Q3 and Nine-Month 2025 Financial Results

CPAC

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Sales of goods for Cementos Pacasmayo S.A.A. increased to S/574,067 thousand for the three-month period ended September 30, 2025, up from S/517,754 thousand in the prior year, and to S/1,557,339 thousand for the nine-month period ended September 30, 2025, compared to S/1,451,399 thousand in the same period of 2024.
The company reported a profit for the period of S/71,507 thousand for the three months ended September 30, 2025, an increase from S/62,539 thousand in Q3 2024, with the nine-month profit reaching S/172,002 thousand, up from S/148,795 thousand in the corresponding period of 2024.
Basic earnings per share (EPS) for the three-month period ended September 30, 2025, was S/0.17, an increase from S/0.15 in the prior year, and for the nine-month period, it rose to S/0.40 from S/0.35.
As of September 30, 2025, cash and cash equivalents significantly increased to S/182,407 thousand from S/72,723 thousand at December 31, 2024. Concurrently, total assets grew to S/3,292,562 thousand, while total liabilities decreased to S/1,907,766 thousand, contributing to an increase in total equity to S/1,384,796 thousand.

Nov 28, 2025, 11:24 AM

6-K

Cementos Pacasmayo S.A.A. Reports Q2 2025 Financial Results

CPAC

Earnings

New Projects/Investments

Revenue Acceleration/Inflection

For the six-month period ended June 30, 2025, Cementos Pacasmayo S.A.A. reported sales of goods of S/983,272 thousand, an increase from S/933,645 thousand in the prior year period.
Profit for the period for the six months ended June 30, 2025, was S/100,495 thousand, with basic earnings per share of S/0.23, compared to S/86,256 thousand and S/0.20, respectively, for the same period in 2024.
As of June 30, 2025, total assets stood at S/3,228,413 thousand and total equity at S/1,313,449 thousand, both showing an increase from December 31, 2024.
The company's capital expenditure for the six-month period ended June 30, 2025, was S/62,749,000, significantly higher than the S/34,283,000 spent in the comparable period of 2024.

Nov 28, 2025, 11:22 AM

6-K

Pacasmayo Reports Q3 2025 Financial and Operational Highlights

CPAC

Earnings

For the LTM ended September 30, 2025, Pacasmayo reported Sales of Goods of S/ 2,084.0 million, a 6.2% increase compared to the prior LTM period, and EBITDA of S/ 568.0 million, up 0.9%. However, the EBITDA Margin decreased by 4.9 percentage points to 27.3%.
As of September 2025, the company's Total Adjusted Debt stood at S/ 1412.9 million and its Net Leverage was 2.5 times EBITDA.
Pacasmayo's cement shipments for the LTM ended September 2025 reached 2.9 million MT, and the company maintains a combined cement production capacity of 4.9 MM MT/year.

Oct 29, 2025, 2:00 PM

Presentation

Cementos Pacasmayo Reports Strong Q3 2025 Financial Results

CPAC

Earnings

New Projects/Investments

Guidance Update

Cementos Pacasmayo S.A.A. reported a 10.9% increase in Q3 2025 revenues, reaching S/574.1 million, and a 14.4% rise in net income to PEN 71.5 million compared to the prior year period.
Consolidated EBITDA for Q3 2025 increased 3.9% to S/160.6 million, with the net debt-to-EBITDA ratio standing at 2.5 times.
Sales volume grew 9% in Q3 2025, primarily driven by stronger demand from infrastructure projects and consistent performance in the self-construction segment.
The company is advancing innovative building solutions, including an industrial hangar integrating prefabrication and BIM methodology, and is collaborating on a water treatment plant at the Yanacocha operation.
The board decided to maintain the dividend at S/190 million, and sustaining CapEx is projected to remain around S/100 million (approximately $30 million). Management is optimistic for continued growth in 2026 with steady margins.