Financial Data and Key Metrics Changes - The company reported a 9% increase in sales volume compared to the same period last year, driven by stronger demand from infrastructure projects and self-construction [3] - Gross profit increased by 14.4%, and net income also rose by 14.4%, reaching PEN 71.5 million for the quarter, with a cumulative growth of 15.6% for the first three months of the year [3][7] - Revenues for the quarter increased by 10.9% to PEN 574.1 million, with consolidated EBITDA rising to PEN 160.6 million, a 3.9% increase [7][8] - For the first nine months of the year, revenues increased by 7.3%, and gross profit rose by 10.5% compared to the same period in 2024 [8] Business Line Data and Key Metrics Changes - Cement sales increased by 10.4% this quarter, with gross margin up by 1.6 percentage points due to lower costs of coal and energy [9] - Concrete pavement and mortar sales surged by 26.3%, primarily due to infrastructure projects, with gross margin increasing by 2.6 percentage points [10] - Precast materials sales rose by 23% this quarter, with gross margin higher by 5.6% compared to the same period of 2024 [11] Market Data and Key Metrics Changes - The northern region of Peru is experiencing growth above the national average, with expectations for continued strong activity in infrastructure projects [16] - The company does not anticipate significant impacts from upcoming elections on self-construction or infrastructure projects, as historical trends show resilience during electoral periods [22][23] Company Strategy and Development Direction - The company is focused on innovative building solutions, including prefabrication and BIM methodology, to enhance efficiency and sustainability in construction [4] - Collaboration with Newmont and Bechtel Corporation on a water treatment plant project highlights the company's commitment to environmental sustainability [5] - The company aims to maintain a strong market position through increased marketing expenses to defend its market share [23] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about maintaining strong volumes and margins despite potential electoral impacts, emphasizing the importance of ongoing investment and innovation [22][23] - The company plans to keep sustaining capital expenditures around PEN 100 million, with a steady dividend of PEN 190 million announced for the year [19] Other Important Information - The company ranked among the top 10 in the Merck Corporate Reputation Ranking for the third consecutive year, reflecting its commitment to responsible management [5] - The net debt-to-EBITDA ratio stands at 2.5x, indicating a solid financial position due to higher EBITDA and debt amortization [11] Q&A Session Summary Question: Expectations for volume performance ahead of federal elections - Management noted that the northern region is growing above the national average and does not expect significant impacts from the elections on volumes [16][17] Question: Capital allocation and CapEx performance for 2026 - Sustaining CapEx is expected to remain around PEN 100 million, with dividends maintained at PEN 190 million [19] Question: Adjustments to commercial strategy during electoral cycles - Management disagreed with the notion that electoral cycles lead to pauses in investment, emphasizing the need for continuous growth and market share defense [22][23] Question: Explanation for the increase in financial income - The increase in financial income to $8.7 million was attributed to mining royalties, which provided extraordinary income [26] Question: Future margin expectations - Margins are expected to remain steady despite volume growth, with increased marketing expenses to defend market share [29]