Loma Negra records 47% advance in net revenue

Argentina's Loma Negra has reported a 46.6 per cent YoY increase in net revenue to ARS14.269bn (US$147m) in the quarter ending 30 June 2021, mostly driven by its cement segment. Its consolidated adjusted EBITDA also climbed 74.1 per cent YoY to ARS4354m, with the EBITDA margin expanding from 25.7 per cent to 30.5 per cent.

"We are pleased to announce another quarter with an excellent performance. Demand continues with a strong momentum and, after several quarters of recovery, is now exceeding pre-pandemic levels," said Sergio Faifman, CEO.

Cement, masonry and lime volumes advanced 39.5 per cent YoY to 1.4Mt from 1.01Mt in the 2Q20, on the back of robust bagged cement sales.

In the first half of the year, net revenue was up 40.7 per cent YoY to ARS28.89bn while the adjusted EBITDA increased 59.9 per cent to ARS9576m. Cement, masonry and lime volumes surged 38.7 per cent to 2.79Mt from 2.01Mt in the 1H20.