Argentina: Loma Negra recorded sales of US$835m in 2022, up by 1.1% year-on-year from 2021 levels. The producer said that growth in revenues from cement was 'flattish,' however volumes rose by 9.7% to 6.72Mt from 6.13Mt. Its cost of sales was US$530m, up by 7.9% from US$491m. Meanwhile, earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 3.8% to US$217m.
Loma Negra's CEO Sergio Faifman praised the 'extraordinary' results, saying "2022 was a year of many challenges and opportunities. The favorable evolution of Argentina's gross domestic product (GDP) during the year and the great performance of the construction activity gave a strong boost to the cement demand, with national shipments that were very close to exceeding 13Mt, allowing the industry to widely surpass the record reached in 2015."
