Cement News tagged under: Argentina

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Loma Negra reports 30% decline in revenue

12 May 2020, Published under Cement News

Argentina’s Loma Negra has reported a 29.6 per cent fall in net revenue to ARS7.77bn (US$122m) in the first quarter of 2020, compared to ARS11bn in the year-ago period. The company’s net profit saw a 44.4 per cent YoY decline to ARS881m from ARS1.58bn. Consolidated adjusted EBITDA was down 17.9 per cent YoY to ARS2.60bn, while the adjusted EBITDA margin increased to 33.5 per cent from 28.7 per cent. "In this unprecedented COVID-19 situation, we are proud of the resilience and ingenuity...

Argentina's cement market contracts 47% in March

09 April 2020, Published under Cement News

Cement demand in Argentina fell 46.5 per cent to 502,541t in March 2020 when compared to March 2019 when consumption reached 940,167t, according to the country’s cement association, AFCP. When compared with February 2020, the drop was 26.8 per cent from 686,602t.  In terms of dispatches, domestic supply was entirely met by Argentinian producers, who also exported 6034t. This represents a YoY and MoM drop of 54.5 and 72.1 per cent, respectively. January-March 2020 In the first quarter o...

Loma Negra sees net profit advance 35% in 2019

11 March 2020, Published under Cement News

Argentina’s Loma Negra has reported a 5.5 per cent YoY decline in revenue to ARS38.95bn (US$660m) for the full-year 2019 period, compared with ARS41.24bn in the previous year. However, net profit surged 34.8 per cent YoY to ARS4.04bn from ARS3bn. Adjusted EBITDA also climbed 2.3 per cent YoY to reach ARS11.21bn. The company’s sales volumes of cement, masonry and lime fell 9.7 per cent overall to 6.04Mt in 2019. Argentina contributed 5.47Mt (-10.6 per cent YoY), while Paraguay saw sales of ...

Argentine cement market contracts 25% in February

06 March 2020, Published under Cement News

Cement demand in Argentina fell 25.4 per cent YoY ad 7.9 per cent MoM to 686,671t in February 2020, according to AFCP, the domestic cement association. There were no imports as domestic cement producers were able to meet the entire volume required by the market. Cement producers manufactured 695,045t of cement with 8374t shipped for export in February 2020. The production volume fell 25.2 per cent YoY and 8.3 per cent MoM. In the first two months of 2020 total cement consumption in the c...

Cementos Molins reports 5% rise in net profit for 2019

28 February 2020, Published under Cement News

Cementos Molins posted a consolidated net profit of EUR90m in 2019, up five per cent YoY. EBITDA increased five per cent YoY to EUR49m. However, the depreciation of the Argentine peso and the hyperinflation in the Latin American country impacted the results. Excluding this, consolidated net profit growth would have been 16 per cent while EBITDA would have advanced by 13 per cent, said the company in a statement. The company achieved a turnover of EUR797m, reporting a four per cent YoY incr...

San Luis rotary kiln burner ignited

27 February 2020, Published under Cement News

On 21 February 2020  the main burner of the rotary kiln in the Lindos project for Cementos Avellaneda at San Luis, Argentina, was successfully ignited. SINOMA-TCDRI  was the contractor for the project. The successful ignition marks the start of the trial production and performance test phase from the installation and commissioning stage.

Argentina’s cement market contracts 15% in January

11 February 2020, Published under Cement News

Argentine cement consumption fell by 14.7 per cent YoY to 745,709t in January 2020, according to AFCP, the country’s cement association. The market was entirely supplied by domestic production and no imports were recorded. Output from Argentine cement plants reached 758,123t, down 14.3 per cent YoY from 884,363t in January 2018. Of this total, 12,414t were exported, representing a 19.6 per cent increase when compared with the year-ago period.

Mario Bollo appointed as new Geocycle manager

08 January 2020, Published under Cement News

Geocycle has appointed Mariano Bollo as its new manager in Argentina. Mr Bollo is a chemical engineer with an MBA from the Universidad Católica de Salta. He started his career at Holcim Argentina in 2006, fulfilling different roles at the company’s cement plants in Jujuy, Mendoza, Córdoba and Buenos Aires. “I feel very fortunate to be able to lead the Geocycle team and in this way, strengthen the involvement of governments and society in general to improve the environmental conditions of...

Argentina's cement demand falls 6% in 2019

07 January 2020, Published under Cement News

Argentinian cement sales dropped 6.1 per cent to 11.1Mt in 2019 compared with 11.89Mt in 2018, according to the country’s cement association, AFCP. No cement was imported during the year, while exports increased 23.4 per cent YoY to 100,197t. The falling sales for the year has been attributed to an economic recession and Argentina's currency devaluation. Sales also declined 15.9 per cent YoY to 744,075t in December 2019, against 818,939t in the year-ago period. Domestic consumption decreas...

Fitch downgrades InterCement due to weak Argentine outlook

01 January 2020, Published under Cement News

Fitch Ratings had downgraded InterCement Participacoes SA's Long-Term Foreign and Local Currency Issuer Default Ratings to 'B-' from 'B'. The rating outlook is stable. The downgrade is due to negative GDP growth expectations in Argentina during 2020 and a continued decline in the purchasing power of the company's clients in this market due to high inflation and the deterioration of the Argentine peso. These factors will weaken demand for cement in this market and are factored into the downg...