INDEX

1. Financial & Operating Results

2. Peruvian Cement Industry Overview
3. Operating Results
4. Utilization Rate
5. Income Statement
6. Sales of Good
7. Operating Expenses
8. EBITDA Reconcilation
9. Cash and Debt Position
10. Consolidated Statements of Financial Position
11. Consolidated Statements of Profit and Loss
12. Consolidated Statements of Changes in Equity
 Financial and Operating Resutls
2Q23 2Q22 % Var. 6M23

Financial and Operating Resutls 682.7 831.3 -17.9% 1,421.3

In millions of S/
Sales of goods 442.0 502.9 -12.1% 922.0
Gross profit 152.6 158.1 -3.5% 313.2
Operating profit 78.7 85.9 -8.4% 165.4
Net income 43.5 48.0 -9.4% 87.0
Consolidated EBITDA 112.6 120.5 -6.6% 233.3
Gross Margin 34.5% 31.4% 3.1 pp. 34.0%
Operating Margin 17.8% 17.1% 0.7 pp. 17.9%
Net income Margin 9.8% 9.5% 0.3 pp. 9.4%
Consolidated EBITDA Margin 25.5% 24.0% 1.5 pp. 25.3%
rating Resutls
INDE
6M22 % Var. X
 
1,715.2 -17.1%

1,028.3 -10.3%
323.0 -3.0%
179.5 -7.9%
93.7 -7.2%
248.0 -5.9%
31.4% 2.6 pp.
17.5% 0.5 pp.
9.1% 0.3 pp.
24.1% 1.2 pp.
Northern Region (thousands of metric tons)

Plant 2019 2020 2021 2022 Jun-23-LTM

Pacasmayo Group 2,615 2,576 3,625 3,437 3,235
Imports 13 38 62 2 -
Total 2,628 2,614 3,687 3,439 3,235

Central Region (thousands of metric tons)

Plant 2019 2020 2021 2022 Jun-23-LTM

UNACEM 5,316 4,172 5,838 6,297 6,146
Caliza Inca 513 382 518 515 522
Imports 663 493 630 202 80
Total 6,492 5,047 6,986 7,014 6,748

Southern Region (thousands of metric tons)

Plant 2019 2020 2021 2022 Jun-23-LTM

Grupo Yura 2,584 2,019 2,895 3,047 2,811
Imports 98 189 181 67 69
Total 2,682 2,208 3,076 3,114 2,880

Others 769 732 877 840 840

Total, All Regions 12,571 10,601 14,626 14,407 13,703

 INDE
X
% part
 
23.6%
0.0%
23.6%

% part
44.9%
3.8%
0.6%
49.3%

% part
20.5%
0.5%
21.0%

6.1%

100.0%
 PRODUCTION

Cement Production Volume

2Q23 2Q22 % Var. 6M23 6M22
Pacasmayo Plant 353.6 426.4 -17.1% 705.7 876.1
Rioja Plant 57.7 73.1 -21.1% 134.7 151.5
Piura plant 274.5 315.6 -13.0% 568.9 669.0
Total 685.80 815.10 -15.9% 1409.30 1696.60

Clinker Production Volume

2Q23 2Q22 % Var. 6M23 6M22
Pacasmayo Plant 205.4 238.6 -13.9% 435.4 470.4
Rioja Plant 48.0 61.5 -22.0% 112.0 122.6
Piura plant 269.8 266.5 1.3% 527.5 541.5
Total 523.20 566.60 -7.7% 1074.90 1134.50

Quicklime Production Volume

2Q23 2Q22 % Var. 6M23 6M22
Pacasmayo Plant 8.1 6.1 32.8% 18.3 24.7
 INDE
% Var. X
-19.4%
 
-11.1%
-15.0%
-16.9%

% Var.
-7.4%
-8.6%
-2.6%
-5.3%

% Var.
-25.9%
 UTILIZATION RATE

Utilization Rate at the Pacasmayo plant

2Q23 2Q22 % Var. 6M23 6M22
Cement 48.8% 58.8% -10.0 pp. 48.7% 60.4%
Clinker 54.8% 63.6% -8.9 pp. 58.1% 62.7%
Quicklime 13.5% 10.2% 3.3 pp. 15.3% 20.6%

Utilization Rate at the Rioja plant

2Q23 2Q22 % Var. 6M23 6M22
Cement 52.5% 66.4% -13.9 pp. 61.2% 68.9%
Clinker 68.6% 87.9% -19.3 pp. 80.0% 87.6%

Utilization Rate at the Pacasmayo plant

2Q23 2Q22 % Var. 6M23 6M22
Cement 68.6% 78.9% -10.3 pp. 71.1% 83.6%
Clinker 100.0% 100.0% 0.0 pp. 100.0% 100.0%

Utilization Rate at the Pacasmayo plant

2Q23 2Q22 % Var. 6M23 6M22
Cement 55.5% 66.0% -10.5 pp. 57.1% 68.7%
Clinker 75.3% 81.5% -6.2 pp. 77.3% 81.6%
t INDE
% Var. X
-11.8 pp.
 
-4.7 pp.
-5.3 pp.

% Var.
-7.6 pp.
-7.6 pp.

t
% Var.
-12.5 pp.
0.0 pp.

t
% Var.
-11.6 pp.
-4.3 pp.
 Income Statement
2Q23 2Q22 % Var. 6M23 6M22
Sales of goods 442.0 502.9 -12.1% 922.0 1,028.3
Gross Profit 152.6 158.1 -3.5% 313.2 323.0
Total operating expenses, net -73.9 -72.2 2.4% -147.8 -143.6
Operating Profit 78.7 85.9 -8.4% 165.4 179.4
Total other expenses, net -18.8 -15.9 18.2% -42.3 -44.7
Profit before income tax 59.9 70.0 -14.4% 123.1 134.7
Income tax expense -16.4 -22.0 -25.5% -36.1 -41.0
Profit for the period 43.5 48.0 -9.4% 87.0 93.7
 INDE
% Var. X
-10.3%
 
-3.0%
2.9%
-7.8%
-5.4%
-8.6%
-12.0%
-7.2%
 Cement, concrete and precasts
2Q23 2Q22 % Var. 6M23 6M22
Sales of goods 420.7 469.4 -10.4% 867.8 947.0
Cost of Sales -268.0 -309.6 -13.4% -556.0 -625.6
Gross Profit 152.7 159.8 -4.4% 311.8 321.5
Gross Margin 36.3% 34.0% 2.3 pp. 35.9% 33.9%

Cement
2Q23 2Q22 % Var. 6M23 6M22
Sales of goods 383.5 414.1 -7.4% 789.3 837.8
Cost of Sales -230.7 -258.9 -10.9% -479.3 -523.1
Gross Profit 152.8 155.2 -1.5% 310.0 314.7
Gross Margin 39.8% 37.5% 2.4 pp. 39.3% 37.6%

Concrete, pavement and mortar

2Q23 2Q22 % Var. 6M23 6M22
Sales of goods 32.7 47.1 -30.6% 69.3 94.3
Cost of Sales -32.2 -41.9 -23.2% -66.2 -84.9
Gross Profit 0.5 5.2 -90.4% 3.1 9.4
Gross Margin 1.5% 11.0% -9.5 pp. 4.5% 10.0%

Precast
2Q23 2Q22 % Var. 6M23 6M22
Sales of goods 4.4 8.2 -46.3% 9.1 14.9
Cost of Sales -5.1 -8.8 -42.0% -10.5 -17.6
Gross Profit -0.7 -0.6 16.7% -1.4 -2.7
Gross Margin -15.9% -7.3% -8.6 pp. -15.4% -18.1%

Quicklime
2Q23 2Q22 % Var. 6M23 6M22
Sales of goods 5.2 7.4 -29.7% 16.3 21.8
Cost of Sales -5.0 -9.0 -44.4% -14.5 -22.3
Gross Profit 0.2 -1.6 -112.5% 1.8 -0.5
Gross Margin 3.8% -21.6% 25.5 pp. 11.0% -2.3%

Construction Supplies
2Q23 2Q22 % Var. 6M23 6M22
Sales of goods 16.1 26.0 -38.1% 37.9 59.4
Cost of Sales -16.0 -25.9 -38.2% -37.9 -57
Gross Profit 0.1 0.1 0.0% 0.0 2.4
Gross Margin 0.6% 0.4% 0.2 pp. 0.0% 4.0%
 INDE
% Var. X
-8.4%
 
-11.1%
-3.0%
2.0 pp.

% Var.
-5.8%
-8.4%
-1.5%
1.7 pp.

% Var.
-26.5%
-22.0%
-67.0%
-5.5 pp.

% Var.
-38.9%
-40.3%
-48.1%
2.7 pp.

% Var.
-25.2%
-35.0%
-460.0%
13.3 pp.

% Var.
-36.2%
-33.5%
-100.0%
-4.0 pp.
 Administrative expenses
2Q23 2Q22 % Var. 6M23 6M22
Personnel expenses 29.2 28.8 1.4% 60.9 55.6
Third-party services 14.3 16.2 -11.7% 32.5 33.0
Board of directors 1.4 1.6 -12.5% 2.9 3.1
Depreciation and amortization 3.0 4.1 -26.8% 7.3 7.9
Other 10.4 4.2 N/R 12.5 8.7
Total 58.3 54.9 6.2% 116.1 108.3

Selling and distribution expenses

2Q23 2Q22 % Var. 6M23 6M22
Personnel expenses 9.5 10.9 -12.8% 19.7 21.3
Advertising and promotion 2.0 2.2 -9.1% 4.1 4.2
Third party services 2.2 1.9 15.8% 3.7 3.6
Other 2.0 2.0 0.0% 5.7 4.9
Total 15.7 17.0 -7.6% 33.2 34.0
 INDE
% Var. X
9.5%
 
-1.5%
-6.5%
-7.6%
43.7%
7.2%

% Var.
-7.5%
-2.4%
2.8%
16.3%
-2.4%
 Consolidated EBITDA
2Q23 2Q22 % Var.
Net Income 43.5 48.0 -9.4%
+ Income tax expense 16.4 22.0 -25.5%
- Finance income -0.9 -1.0 -10.0%
+ Finance costs 24.2 23.8 1.7%
+/- Net loss on the valuation of trading derivative
financial instruments 0.0 0.0 -
+/- Net loss from exchange rate -4.5 -6.9 -34.8%
+ Depreciation and amortization 33.9 34.6 -2.0%
Consolidated EBITDA 112.6 120.5 -6.6%
Consolidated EBITDA INDE
6M23 6M22 % Var. X
87.0 93.7 -7.2%
 
36.1 41.0 -12.0%
-2.2 -1.6 37.5%
49.9 46.6 7.1%

0.0 0.1 N/R

-5.3 -0.4 N/R
67.8 68.6 -1.2%
233.3 248.0 -5.9%
 Certificates of deposits in Soles

Bank Amount (S/) Interest Rate Initial Date

Banco de Crédito del Perú S/ 4.5 7.50% June 30, 2023
Banco de Crédito del Perú S/ 3.0 7.50% June 30, 2023
Banco de Crédito del Perú S/ 3.0 7.50% June 30, 2023
Banco de Crédito del Perú S/ 3.0 7.58% June 13, 2023
Banco de Crédito del Perú S/ 3.0 7.78% June 30, 2023
Banco de Crédito del Perú S/ 3.0 7.76% June 30, 2023
Banco de Crédito del Perú S/ 2.0 7.92% June 30, 2023
Banco de Crédito del Perú S/ 2.0 7.80% June 30, 2023
Banco de Crédito del Perú S/ 2.0 7.80% June 30, 2023
Banco de Crédito del Perú S/ 2.0 7.80% June 30, 2023
Banco de Crédito del Perú S/ 2.0 7.80% June 30, 2023
Banco de Crédito del Perú S/ 2.0 7.88% June 30, 2023
Banco de Crédito del Perú S/ 2.0 7.88% June 30, 2023
Banco de Crédito del Perú S/ 1.5 7.18% June 30, 2023
Scotiabank Perú S/ 2.0 8.45% June 30, 2023
Scotiabank Perú S/ 2.0 8.40% June 30, 2023
Scotiabank Perú S/ 2.0 8.35% June 30, 2023

S/ 41.0

Consolidated Debt

Payments due by period

Less than 1 year 1-3 Years 3-5 Years

Indebtedness 346.4 312.7 312.7

Future interest payments 94.7 142.0 107.4
Total 441.1 454.7 420.1

Capex

Projects 6M23
Pacasmayo Plant Projects 144.8
Concrete and aggregates 7.6
equipment
Rioja Plant Projects 5.3
Piura Plant Projects 2.3
Others 1.8
Total 161.8
 Maturity Date INDE
April 4, 2023 X
April 4, 2023
 
April 4, 2023
April 4, 2023
April 4, 2023
April 4, 2023
April 4, 2023
April 4, 2023
April 4, 2023
April 4, 2023
April 4, 2023
April 4, 2023
April 4, 2023
April 4, 2023
April 4, 2023
April 4, 2023
April 4, 2023

e by period
More than 5 Years Total

648.2 1,620.0
98.7 442.8
746.9 2,062.8
Assets As of jun-23 As of Dec-22
Current Assets S/ (000) S/ (000)
Cash and cash equivalents 65,660 81,773
Term deposits with maturity greater than ninety days 10,000 -
Other financial instruments - 86,893
Trade and other receivables,net 92,072 101,491
Income tax prepayments 7,450 8,268
Inventories 929,918 884969
Payments 26,375 25,059
Total current assets 1,131,475 1,188,453

As of jun-23 As of Dec-22
Non-current assets S/ (000) S/ (000)
Trade and other receivables, net 44,076 43,543
Financial instruments designated at fair value through OCI 274 274
Property, plant and equipment, net 2,090,370 2,007,838
Intangible assets, net 59,681 56,861
Goodwill 4,459 4,459
Deferred income tax assets 10,873 9,005
Right-of-use assets 7,199 3,639
Other assets 81 89
Total non-current assets 2,217,013 2,125,708

Total assets 3,348,488 3,314,161

Liabilities and equity As of jun-23 As of Dec-22

Current liabilities S/ (000) S/ (000)
Trade and other payables 234,958 284,554
Financial obligations 345,146 618,907
Lease liabilities 3,052 2,005
Income tax payable 11,773 16,340
Provisiones 48,510 31,333
Total current liabilities 643,439 953,139

As of jun-23 As of Dec-22
Non-current liabilities S/ (000) S/ (000)
Financial obligations 1,267,393 974,264
Lease liabilities 4,585 2,350
Provisions 17,860 47,638
Deferred income tax liabilities 131,635 141,635
Total non-current liabilities 1,421,473 1,165,887

Total liabilities 2,064,912 2,119,026

 0
As of jun-23 As of Dec-22
Equity S/ (000) S/ (000)
Capital stock 423,868 423,868
Investment shares 40,279 40,279
Investment shares holds in Treasury shares -121,258 -121,258
Additional paid-in capital 432,779 432,779
Legal reserve 168,636 168,636
Other accumulated comprehensive results (loss) -16,272 -17,787
Retained earnings 355,544 268,618

Total Equity 1,283,576 1,195,135

Total liability and equity 3,348,488 3,314,161

INDE
X
 
 2Q23 2Q22 2023
S/ (000) S/ (000) S/ (000)
Ventas netas (442,039) (502,886) (922,034)
Costo de ventas 289,461 344,804 608,861
Gross profit (152,578) (158,082) (313,173)

Ingresos (gastos) operativos

Gastos administrativos 58,327 54,861 116,056
Gastos de ventas y distribución 15,674 17,025 33,208
Otros ingresos (gastos) operativos, neto (73) 311 (1,476)
Total gastos operativos, neto 73,928 72,197 147,788

Utilidad operativa (78,650) (85,885) (165,385)

Otros ingresos (gastos)

Ingresos financieros (836) (1,012) (2,191)
Costos financieros 24,156 23,813 49,877

Ganancia (pérdida) neta acumulada por instrumentos

financieros derivados a valor razonable con cambios en
resultados - (45) (19)
Pérdida neta acumulada liquidación por instrumentos
financieros derivados de negociación - -
Ganancia por diferencia en cambio, neta (4,518) (6,865) (5,341)

Total otros gastos, neto 18,802 15,891 42,326

Utilidad antes del impuesto a la renta (59,848) (69,994) (123,059)

Impuesto a la renta 16,414 22,015 36,133

Utilidad neta del año (43,434) (47,979) (86,926)

Utilidad por acción

Utilidad básica y diluidadel año a los tenedores de acciones

comunes y de inversión de Cementos Pacasmayo S.A.A. (S/.
por acción) 0.10 0.11 0.20
 2022
INDE
S/ (000) X
(1,028,295)
 
705,248
(323,047)

108,250
33,995
1,335
143,580

(179,467)

(1,570)
46,608

64

(351)

44,751

(134,716)

41,012

(93,704)

0.22
Consolidated Statements of Changes in Equity
For the three-month periods ended June 30, 2023, 2022 (unaudited)

Attributable to equity holder

Capital Investment Investments Additional

paid-in
Stock shares shares hold
capital
S/(000) S/(000) in treasury
S/(000)
S/(000)

Balance as of January 1, 2022 423,868 40,279 (121,258) 432,779

Profit for the year - - - -
Other comprehensive loss - - - -
Total comprehensive income -
- - - -
Balance as of June 30, 2022 423,868 40,279 (121,258) 432,779

Balance as of December 31, 2022 423,868 40,279 (121,258) 432,779

Profit for the year - - - -
Other comprehensive loss - - - -
Other comprehensive loss - - - -
Total comprehensive income - - - -
- - - -
Balance as of June 30, 2023 423,868 40,279 -121,258 432,779
Attributable to equity holders of the parent
INDE
X
Unrealized
gain (loss) on Unrealized  
Legal financial gain (loss) Total
Retained
reserve instruments on equity
earnings
S/(000) designated at cash flow S/ (000)
S/ (000)
fair value hedge
S/ (000) S/ (000)

168,636 (15,869) (4,225) 271,595 1,195,805

- - - 93,704 93,704
- 275 - 275
- 275 93,704 93,979
- - - -
168,636 (15,869) (3,950) 365,299 1,289,784

168,636 (16,267) (1,520) 268,618 1,195,135

- - - 86,926 86,926
- - 1,520 - 1,520
- (5) - - (5)
- (5) 1,520 86,926 88,441
- - - - -
168,636 (16,272) - 355,544 1,283,576