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Loma Negra Compañía Industrial Argentina Sociedad Anónima (NYSE:LOMA), the leading cement producer in Argentina, is a cornerstone of the nation’s construction industry. Founded in 1926 by Alfredo Fortabat, the company has since expanded its operations to include cement, masonry cement, lime, concrete, and aggregates, making it a vertically-integrated cement and concrete company with nationwide influence. Additionally, Loma Negra runs rail services, capitalizing on its extensive logistical network.
The company operates through five primary segments: Cement, Masonry Cement, and Lime; Concrete; Rail Services; Aggregates; and Others. The majority of revenue is derived from the Cement, Masonry Cement, and Lime segment, underpinning the critical role these materials play in both private and public construction projects across Argentina.
Recently, Loma Negra announced its financial results for various quarters of 2023 and 2024. The company reported a sales volume of cement, masonry, and lime of 1.6 million tons in 2Q23, marking a 3.6% year-on-year decrease attributed to reduced demand in the retail sector. However, the concrete segment showed a remarkable 14.8% YoY increase, driven by the private construction sector and public works. Despite temporary challenges in the aggregates segment and a contraction in the railway segment, Loma Negra has maintained robust financial health. As of June 30, 2023, it declared total cash, cash equivalents, and investments of Ps. 24,093 million, with a total debt of Ps. 71,743 million.
Loma Negra's commitment to sustainability is reflected in their annual Sustainability Reports, which detail their continuous efforts toward sustainable development. Their strong market position, efficient production process, and strategic plant locations supported by vast limestone reserves, position them well for future growth and stability.
In the latest quarters, Loma Negra faced significant challenges due to Argentina's economic environment and political transitions. Sales volumes in 1Q24 saw a decline of 31.3% to 1.1 million tons, influenced by a stabilization plan by the new government and adverse weather conditions. Despite these hurdles, the company managed to maintain a solid Adjusted EBITDA margin, underscoring their resilience and operational efficiency.
Moreover, Loma Negra has demonstrated strong shareholder returns, announcing multiple dividend payments, which in 2Q23 alone amounted to approximately $120 million, yielding about 16%. They continue to focus on balancing profitability and growth, while managing a comfortable debt maturity profile and maintaining a solid balance sheet.
Overall, as Argentina's leading cement producer, Loma Negra remains a pivotal player in the construction industry, continuously adapting to market dynamics and economic conditions while delivering value to its shareholders.
Loma Negra, the leading cement producer in Argentina, reported 1Q24 results with net sales revenues of Ps. 114,851 million, a YoY decrease of 27.0%. The Consolidated Adjusted EBITDA reached Ps. 25,961 million, down 37.1% YoY. Net profit increased by 151.0% to Ps. 50,703 million. Despite lower sales volumes affecting all segments, the company aims for a gradual recovery in upcoming quarters.
Loma Negra, the leading cement producer in Argentina, filed its annual report for the fiscal year 2023 on Form 20-F with the SEC. The report and audited financial statements are available on the SEC's and the Company's websites.
Loma Negra, a leading cement producer in Argentina, reported its 4Q22 results with a net revenue increase of 1.1% YoY to Ps. 145,133 million (US$ 835 million). Despite this, consolidated net income plummeted 85.4% YoY to Ps. 1,807 million. Adjusted EBITDA reached Ps. 43,345 million, down 3.8% YoY, though it grew 34.3% in USD terms to US$ 289 million. The EBITDA margin contracted to 29.9%. The company declared a dividend of Ps. 3,500 million (US$ 19.5 million) and repurchased shares worth Ps. 1,263 million. The 4Q22 saw a net profit of Ps. 7,452 million, boosted by the sale of a non-strategic property, while net debt rose to Ps. 15,859 million.
Loma Negra (NYSE: LOMA), Argentina's leading cement producer, reported its 3Q22 financial results, showing a 4.2% year-on-year increase in net sales revenues to Ps. 33,942 million (US$ 236 million). However, Consolidated Adjusted EBITDA dropped 12.7% YoY to Ps. 7,508 million, reflecting a reduced margin of 22.1%. The company recorded a net loss of Ps. 12,241 million, primarily due to financial costs tied to foreign currency debt cancellations. A dividend of Ps. 10,300 million (US$ 81 million) was distributed, marking a commitment to shareholder value amidst challenging financial conditions.
Loma Negra (NYSE: LOMA) reported a strong performance for the second quarter of 2022, with net sales increasing by 8.0% YoY to Ps. 25,268 million (US$ 204 million). Adjusted EBITDA rose 2.6% YoY to Ps. 7,328 million (US$ 63 million), though margins contracted to 29.0%. Net profit reached Ps. 2,413 million, rebounding from a loss in 2021, driven by improved operations and reduced tax burdens. The company declared a dividend payment of Ps. 5,150 million (Ps. 8.80 per share). Despite a rise in net debt, the Net Debt/Adjusted EBITDA ratio improved to 0.01x, reflecting robust cash generation.
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