Argentina’s Loma Negra has reported an 8.5 per cent YoY increase in revenue to ARS17,800m (US$176m) in the third quarter of 2021, against ARS16,399m in the comparable period of 2020.
Consolidated adjusted EBITDA declined 9.1 per cent to ARS4696m from ARS5167m, while the margin fell to 26.4 per cent from 31.5 per cent. Net profit also decreased 84.9 per cent YoY to ARS1490m, mainly due to an extraordinary result in the year-ago period which saw a divestment in Paraguay.
“We are pleased to announce a very good quarter in which we observe a consolidation of cement demand close to historical highs, with world-class profitability margins supported by our high operating standards and a recovery in the other business segments,” said Sergio Faifman, Loma Negra's CEO.
“The post-pandemic operational normalisation and the sustained recovery of demand, led to this quarter, unlike what happened in the same period last year, to include the usual annual maintenance costs, as well as an increase in energy inputs, typical of the winter months.”
Sales volumes of cement, masonry, and lime in Argentina during the 3Q21 increased 8.4 per cent to 1.66Mt, mainly attributed to a recovery in the bulk cement segment.
