Peru · Delayed Price · Currency is PEN UNACEM Corp Earnings Call Transcripts
Fiscal Year 2026
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Q2 revenue and EBITDA grew YoY, with higher margins and net profit; H1 EBITDA edged up, but net profit and gross margin were pressured by the Camisea incident and FX losses. Growth was broad-based, led by the U.S., Chile and energy operations.
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Q1 revenue rose 7.1% YoY, while EBITDA fell 17.9% amid the TGP outage and U.S. plant overhauls; excluding the pipeline impact, EBITDA would have grown 4.1%. Most Latin American markets posted stronger volumes, and FY 2026 CapEx is budgeted at ~$320 million.
Fiscal Year 2025
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FY EBITDA reached PEN 1,609 million, down 0.7% on a normalized basis, while revenue rose 2.6% and net debt declined. 2026 CapEx is planned at PEN 700–800 million, with Peru demand and a gradual U.S. recovery supporting the outlook.
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Q3 revenue edged up, but EBITDA and net profit declined as kiln overhauls and U.S. weakness pressured margins. Peru and other markets grew, while North America actions target costs and working capital amid expectations of Arizona recovery toward late 2026.
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Q2 EBITDA rose 0.7% YoY and net profit more than doubled, while gross and EBITDA margins declined. Higher CapEx and working-capital needs lifted net debt; Peru infrastructure projects and the 2027 lime plant support the outlook.
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Q1 revenue rose 4.1% YoY, while reported EBITDA fell 7%; adjusted EBITDA was stable excluding prior-year land-sale income. Net income was slightly higher, and 2025 guidance points to double-digit U.S. volume growth and PEN 1 billion in CapEx.
Fiscal Year 2024
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FY2024 revenue rose 7.5% and EBITDA 11.1%, with EBITDA margin reaching 24.2%. Adjusted for PEN 77.9 million of non-recurring expenses, net income was PEN 548 million, up 4.7%; 2025 CapEx is budgeted at $210 million.
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Q3 revenue reached PEN 1.8 billion and EBITDA rose 18.1% YoY, with margin gains driven by operational efficiencies and stronger Latin American operations. Leverage eased sequentially to 3.23x, while 2025 guidance points to mid-single-digit revenue growth and stable consolidated EBITDA.
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Q2 revenue rose 7% and EBITDA grew 6.3% YoY, while net profit was PEN 47 million after higher interest and a PEN 52 million tax contingency. FY2024 EBITDA growth guidance remains mid-single digits; leverage was 3.47x.
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Revenue rose 13.9% to PEN 1.6bn and EBITDA grew 7.2% to PEN 419m, but was flat excluding non-recurring income; net profit fell 34.9%. Leverage was 3.4x, while FY EBITDA growth guidance remained mid-single digits.
Fiscal Year 2023
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FY23 revenue rose 6.6%, while EBITDA fell 5.1% and net profit declined to PEN 514m, pressured by acquisition costs and weaker Latin American volumes. FY24 EBITDA growth is guided to the high single digits, with CapEx expected to exceed PEN 1bn.
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Q3 EBITDA fell 13% YoY as weaker volumes, lower margins and weather-affected hydro output offset revenue growth and Termochilca gains. Tehachapi expands U.S. capacity, while 2024 guidance targets mid-teens EBITDA growth.
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FY2022 revenue rose 18% and EBITDA 1.3%, but higher input costs reduced margins. FY2023 EBITDA is expected to grow at a low-single-digit rate, supported by lower costs, U.S. pricing and recovery across international operations.