Loma Negra posts 8% increase in 2Q revenues

Argentina-based Loma Negra, part of InterCement do Brasil SA, reported an eight per cent YoY increase in net sales revenues to ARS25,268m in the second quarter of 2022. The company attributes the improved turnover to an increase in cement sales and a good performance in other segments, particularly in concrete and aggregates.

Furthermore, the company achieved a 2.6 per cent YoY uptick in consolidated adjusted EBITDA to ARS7328m, but the consolidated adjusted EBITDA margin contracted 151 basis points to 29 per cent from 30.5 per cent in the 2Q21.

Net profit showed an increase of ARS4488m to ARS2413m in the 2Q22, mainly due to a better operating result and lower tax burden as a result of the increase in the income tax that affected the 2Q21.