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News Loma Negra increases sales and earnings as profit drops in first nine months of 2021

Loma Negra increases sales and earnings as profit drops in first nine months of 2021

Written by Global Cement Staff 12 November 2021
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Argentina: Loma Negra’s nine-month net sales rose by 27% year-on-year to US$493m in 2021, from US$388m in the corresponding period of 2020. The company recorded adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$151m, up by 29% from US$117m. It net profit fell by 72% to US$32.1m from US$115m.

During the period, the company increased its sales of cement, masonry and lime products by 26% year-on-year to 4.45Mt from 3.54Mt. It said that bagged cement sales remained strong due to sustained demand from the retail sector, while bulk cement sales underwent a sharp recovery in the third quarter of 2021. In light of this, it forecast a relative normalisation of bagged cement sales compared to bulk in the fourth quarter of 2021.

Last modified on 17 November 2021
Published in Global Cement News
Tagged under
  • Argentina
  • Loma Negra
  • Results
  • bagged cement
  • masonry cement
  • lime
  • volumes
  • GCW532

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