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.
