Consolidated revenues of Grupo UNACEM reach 1,617 million soles in the first quarter 2025
In its most recent financial results presentation to investors, Grupo UNACEM released its results for the first quarter of 2025, highlighting consolidated revenues of 1,671 million soles, 4.1% higher than the same period last year, mainly due to the solid performance of its business units CELEPSA, UNACEM Ecuador, UNACEM Chile and UNACEM North America.
“We had a solid quarter, thanks to the good performance of our operations in Chile and Ecuador. In Chile, the recovery of the construction sector boosted cement demand and prices, with key projects such as the Industrial Bridge, the Nueva Centinela project and the Fruit Highway. In Ecuador, our ready-mix operations reached full capacity to supply the construction of the new urban city of San Patricio, reflecting a healthy recovery in volumes and prices. These results highlight the strength of our integrated platform in strategic markets,” said Pedro Lerner, Corporate CEO of Grupo UNACEM.
EBITDA reached 390 million soles and CAPEX amounted to 202 million soles, representing an increase of 112.1% compared to the first quarter of 2024.
Major investments associated with projects such as the sulphur dioxide emission reduction system at Kiln 1 in Atocongo, the new primary crusher and the construction of new clinker storage pits at Atocongo and Condorcocha in UNACEM Peru. Also, scheduled major maintenance on the turbine at Termochilca and machinery and mixer trucks at UNACEM North America and UNICON Peru.
Álvaro Morales, Grupo UNACEM corporate vice president of finance, noted that “LTM EBITDA reached 1.631 billion soles, with a slight improvement in the margin from 23.2% to 23.6%, as a result of the strength of the cement and concrete businesses in Peru, together with an important contribution from the energy platform, solid demand in California and better performance in Ecuador and Chile”.
RESULTS BY BUSINESS UNIT AND COUNTRY:
In Peru, CELEPSA stands out, with revenues of USD 57 million (18.7 % higher than in 1Q2024), driven by the addition of new customers to its portfolio. EBITDA reached USD 18.3 million, 10.4% higher than in the same period of the previous year. This performance was mainly due to higher sales volumes in the hydroelectric business as a result of favourable hydrological conditions.
Cement dispatches continued at a steady pace. It registered 1.3 million tonnes, 0.8% less than in the first quarter of 2024, which shows a positive trend and a sign of recovery in self-construction demand. On the other hand, clinker exports through the Conchán terminal reached 182,000 tonnes, 31% more than the first three months of last year.
Regarding UNACEM Ecuador, cement dispatches reached 275 thousand tonnes, 3.4 % more than in the same period of 2024. Revenues amounted to USD 40.1 million (12.7% more than Q1 2024) with slightly better prices, while ready-mix volumes increased from 28 thousand m³ to 49 thousand m³. EBITDA amounted to USD 9.6 million, 27.4 % higher than in the first quarter of last year.
The Group also reported that in UNACEM North America, higher average prices and higher cement dispatch volumes resulted in revenues of USD 89.9 million (3.5 % higher than the first quarter of 2024) and EBITDA of USD 6.3 million in the quarter. Cement dispatch volumes reached 282 thousand tonnes, 15.8% higher than in the same period of 2024.
Finally, in the first quarter of 2025, UNACEM Chile dispatched 126 thousand tonnes of cement, maintaining a solid performance. Revenues amounted to 15,431 million Chilean pesos, 28.2 % more than in the same period last year. This result reflects the improvement in prices in a context where the construction sector is beginning to show signs of recovery. The ready-mix business had revenues of COP 23,789 million (46.8 % higher than in the first quarter of last year) and EBITDA of COP 888 million, driven by a 29.3 % increase in ready-mix concrete shipments and higher average prices.