Financial Data and Key Metrics Changes - For Q4 2025, revenues increased by 6.2% year-over-year, reaching PEN 559.5 million, driven by higher sales of pack cement and increased sales for infrastructure projects [10] - EBITDA for Q4 2025 reached PEN 158.7 million, an 11.4% increase compared to the same period last year, excluding one-off expenses related to the share purchase agreement with Holcim [6][10] - Full year 2025 EBITDA was PEN 584.2 million, marking a 6.4% year-over-year increase when excluding one-off expenses [7][17] - Net income for Q4 2025, excluding one-off expenses, would have been PEN 59.8 million, a 19.6% increase over the same period last year [16][17] Business Line Data and Key Metrics Changes - Cement sales in Q4 2025 increased by 13.6%, primarily due to robust demand in the self-construction sector, while full year cement sales increased by 8.7% compared to 2024 [12][14] - Sales of concrete, pavement, and mortar decreased by 25.1% year-over-year in Q4 2025, mainly due to lower sales volume from the halted Motupe Riverbank Defense Project [13][14] - Precast materials sales decreased by 16% in Q4 2025 but increased by 3% for the full year, driven by higher demand from the public sector [16] Market Data and Key Metrics Changes - The company experienced strong momentum in sales volumes, with an 8.2% increase in Q4 2025 compared to the same period last year, and a 7.2% increase for the full year 2025 relative to 2024 [6] - The growth was attributed to stronger demand for infrastructure projects and consistent performance in the self-construction segment [6] Company Strategy and Development Direction - The acquisition agreement with Holcim for a controlling stake in Cementos Pacasmayo is seen as a strong endorsement of the company's long-term strategy and operational excellence [4][5] - The company aims to promote sustainable development and contribute to the growth of Peru and the wider region [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the momentum built and the positive outlook for future performance, emphasizing operational excellence and profitability [9] - The company anticipates that EBITDA margins will remain stable or increase slightly due to energy-saving projects planned for the second half of the year [26][27] Other Important Information - The company achieved three-star recognition from Peru's Minister of Environment for reducing greenhouse gas emissions, reinforcing its commitment to sustainability [7][8] - The company maintains a top-tier position in the Merco ESG Sustainability Ranking, recognized as the industry leader for ten consecutive years [8] Q&A Session Summary Question: Details about the transaction with Holcim and regulatory approvals - Management confirmed that the transaction is pending Indecopi approval and is expected to be approved in the coming months, with no anticipated impediments [19] Question: Acquisition-related expenses and their justification - Management explained that most transaction expenses are related to long-standing change of control issues, with part of the expenses to be assumed by Holcim [20][21] Question: Future project-related disruptions and margin pressures - Management indicated that while each project has unique circumstances, they expect EBITDA margins to remain stable or improve due to upcoming energy-saving projects [26] Question: Guidance on revenue growth and EBITDA margins for 2026 - Management expressed optimism about volume growth and stable EBITDA margins for 2026, citing competitive pricing and operational efficiencies [27]