Loma Negra posted a net revenue of ARS174.2m (US$170m), down 19.5 per cent YoY as the company posted its fourth-quarter results. Revenue from cement, masonry and lime sales fell 19.9 per cent YoY to ARS191.657bn, concrete sales were down 26.9 per cent to ARS18.513bn and aggregate sales dropped 34.2 per cent YoY to ARS6.371bn. Railroad sales slipped by 3.2 per cent to ARS17.423bn.
In terms of sales volumes, cement, masonry and lime sales saw a 14.1 per cent YoY drop to 1.31Mt while concrete sales were down 14.4 per cent YoY to 0.11Mm3 in the 4Q24. Aggregate sales slipped by 3.1 per cent to 0.28Mt, but sales in the railroad segment edged up by 3.1 per cent YoY to 1.03Mt.
Adjusted EBITDA edged up 2.4 per cent YoY to ARS50.6bn while net profit reached ARS22.1bn.
Full-year 2024 results
The company also reported a sales revenue of ARS699.179bn in 2024, down 23.9 per cent from ARS919.313bn in 2023. Revenues from the cement, masonry and lime business were down 23.1 per cent to ARS619.927bn in 2024 from ARS805.719bn in 2023. Concrete sales contracted by 36.9 per cent YoY to ARS55.646bn in the full year when compared with 2023 when they reached ARS88.165bn. Aggregate sales dropped 38.5 per cent YoY to ARS17.269bn in 2024 from ARS28.066bn while railroad sales were down 10.4 per cent YoY to ARS64.904bn from ARS72.44bn.
The sales volume of cement, masonry and lime shrank 23.7 per cent to 4.9Mt in 2024 from 6.42Mt in the previous year while concrete volumes dropped 31.8 per cent YoY to 0.4Mm3 from 0.58Mm3 over the same period. Aggregate sales saw a 3.1 per cent drop to 0.97Mt from 1.29Mt while railroad sales were down 3.1 per cent to 3.63Mt from 4.20Mt.
Gross profit fell 18.9 per cent to ARS186.981bn in 2024 from ARS230.627bn. However, profit before tax surged more than six-fold to ARS249.552bn from ARS37.931bn in 2023 on the back of lower sales and administration expenses and financial costs as well as a strong reduction in exchange rate-related costs. Net profit improved seven-fold cent to ARS153.627bn from ARS21.081bn as the company's tax burden reduced significantly.
