Argentina: Loma Negra, part of Brazil-based InterCement, recorded net sales of US$236m in the third quarter of 2022, a 4.2% year-on-year rise compared to the third quarter of 2021. The group attributed the increase to improved cement sales, complemented by improved concrete and aggregates sales.
Loma Negra’s consolidated adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 12.7% to US$47.0m. However, it still made a net loss of US$76.6m, mainly due to the cancellation of debt in foreign currencies with local funding.
Sergio Faifman, Loma Negra's chief executive officer, noted, “The industry (exhibits) a positive trend, showing a high level of activity and heading to a record year. In fact, the third quarter was the best in history in terms of cement shipments for the industry and for Loma Negra. Our production capacity and our extensive nationwide distribution network allow us to keep up with the growing demand, underpinning our status as leaders in the industry.”