Loma Negra saw its net sales revenue decrease by 5.5 per cent to ARS19.3bn (US$171m) in the first quarter of 2022 as cement and concrete sales declined and improvements in aggregates in the railway segment.
Consolidated adjusted EBITDA reached ARS6.484bn, down 11.2 per cent when compared with the 1Q21. The EBITDA margin contracted 214 basis points YoY from 35.7 to 33.6 per cent.
The net profit of ARS3.134bn was down 21.3 per cent when compared with the year-ago period.
Commenting on the financial and operating performance for the first quarter of 2022, Sergio Faifman, Loma Negra’s CEO, noted: “We started the year in a very good way, the industry continues to show very good levels of activity with a growth of seven per cent in the quarter compared to the previous year. At the current rate, cement consumption is on track to hit an all-time high for the year, despite the challenges that the local economy is currently facing.
“In this sense, the end of the quarter showed very good levels of profitability, with an EBITDA of US$60m, 14 per cent higher than last year, and very good profit margins. Despite the uncertainty in the international context, the scarcity, and the significant increase in the price of fuels worldwide, we were able to maintain our high levels of profitability on the back of a very good operating performance, our productive structure, and an adequate management of our energy matrix.”
