Loma Negra reports rise in net revenue

Argentina’s Loma Negra has reported a 7.9 per cent YoY increase in net revenue to ARS26,807m (US$789m) in 2018, compared with ARS24,839m of the previous year. Adjusted EBITDA climbed 14.5 per cent to ARS7121m, while the EBITDA margin rose from 25 per cent to 26.6 per cent.

"During 2018 cement demand in Argentina turned much weaker in the second half of the year resulting in a 2.6 per cent year-on-year decline for the year as a whole. Looking into 2019, we expect the negative cycle that started in the second quarter of 2018 to turnaround by mid-year following expectations of overall economic recovery in the country. We remain focused on balancing growth and profitability while leveraging our leadership position," said Sergio Faifman, Loma Negra's CEO.

"The expansion in L'Amalí plant continues to be a key element of our long-term growth strategy, as it will let us optimise our production footprint while providing much needed capacity for when demand recovers," added Mr Faifman.

In the 4Q18 net revenue rose 2.8 per cent YoY to ARS6936m on the back of positive results from the Paraguayan cement segment.