Cement News tagged under: Loma Negra

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Loma Negra sells majority stake in Yguazú Cementos

27 August 2020, Published under Cement News

Argentina-based Loma Negra (Intercement) has sold its 51 per cent majority stake in Paraguay’s Yguazú Cementos. The value of the deal was not announced, but the company had been valued at US$80m. The buyer was a local shareholder company ConcretMix (owned by Grupo Bogarín), according to a note sent to Argentina’s National Securities Commission. Loma Negra is expected to use the funds from the transaction to pay its debt with local banks. In 2000 Intercement founded Yguazú Cementos in partn...

Taking Loma Negra to the next level

12 August 2020, Published under Cement News

InterCement subsidiary Loma Negra has been in the process of expanding its L’Amalí cement plant in Argentina, including a new 5800tpd state-of-the-art kiln, two vertical roller mills as well as a complete system for bagging and palletising. Construction work has been disrupted due to the COVID-19 crisis, but the project team is now looking forward to completing this ambitious investment that will take L’Amalí to the next level. By Loma Negra, Argentina. Loma Negra’s L’Amalí 2 project ...

Loma Negra sees 30% decline in revenue for 2Q20

12 August 2020, Published under Cement News

Argentina’s Loma Negra has announced a 30.1 per cent YoY decline in net revenue to ARS7453m (US$104m) in the second quarter of 2020. Consolidated adjusted EBITDA was also down 24.6 per cent to ARS2077m, while the margin climbed from 25.8 to 27.9 per cent. "Cement demand in Argentina in the second quarter contracted around 32 per cent YoY and around four per cent when compared sequentially with the previous quarter. Taking a closer look on the behaviour of our demand, we observed that the in...

InterCement: today and beyond

05 August 2020, Published under Cement News

Brazilian cement major InterCement has built up a substantial international industry portfolio. In light of the latest global developments, Flavio Aidar, CEO of InterCement, shares an insight into the company’s recent performance, including the impact of COVID-19 on operations, updates on its activities in South America and Africa, and future goals. Flavio Aidar, CEO of InterCement ICR: COVID-19 is now a huge challenge facing the world. Are you and your team safe and well? ...

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...

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 ...

Argentina remains optimistic

17 December 2019, Published under Cement News

Argentina is facing more economic woes as inflation, interest rates, unemployment and the poverty rate continue to climb. But given the pressing need for both housing and infrastructure, its cement producers continue to invest in new capacity. With a new occupant at the Casa Rosada, the Argentine President’s executive mansion, the country has an optimistic view of the future At the end of October, Argentinians went to the polls to elect their president amid challengi...

Loma Negra plans to refinance US$40m debt

16 December 2019, Published under Cement News

Argentina-based Loma Negra is looking to refinance the US$40m debt that requires repaying in January 2020. The loan was taken out at under seven per cent interest. The refinancing targets a maturation in 2022 at 10 per cent interest rate to enable the company to proceed with its US$350m investment project. If it is successful, it will have US$100m in cash reserves to complete the investment plant by mid-2020, said Sergio Faifman, CEO of Loma Negra. The plan expects to raise capacity at its...

Loma Negra records 2% fall in revenue for the 9M19

08 November 2019, Published under Cement News

Argentina's Loma Negra has recorded a 2.3 per cent fall in net revenue to ARS26.74bn (US$448m) in the first nine months of 2019, compared with ARS27.36bn in the year-ago period. However, the net profit surged 176.8 per cent to ARS2.6bn from ARS944m. Adjusted EBITDA in the 9M19 climbed nine per cent YoY to ARS7.45bn from ARS6.8bn, while the margin increased to 27.8 per cent from 25 per cent in the 9M18. Argentine sales volumes of cement, masonry and lime in the 9M19 decreased 10.4 per cen...

Loma Negra to hire 120 workers for L'Amali II

17 October 2019, Published under Cement News

Argentine cement producer Loma Negra announced it will hire 120 workers for the new line at its US$350m L'Amalí II plant in Bonaerense de Olavarría, Argentina. Of the 120 new positions, 80 will be operators and the rest managers and analysts, according to a company statement. The selection of staff will be carried out both internally and externally and the company will be in charge of carrying out the search. Loma Negra highlighted that the external search will focus on Olavarría and sur...