Loma Negra Reports Mixed 2Q24 Financial Results

Loma Negra Compania Industrial Argentina Sociedad Anonima (LOMA) has released an update.

Loma Negra Compania Industrial Argentina Sociedad Anonima reported a mixed financial performance for 2Q24, with net revenues decreasing by 28% to 136.1 billion Argentine pesos, while achieving a significant improvement in margins, with Adjusted EBITDA margin rising to 28.1%. Despite a drop in cement business shipments year-over-year, there were signs of recovery towards the end of the period, and the company maintained a robust balance sheet with a net debt to LTM Adjusted EBITDA ratio of 1.26x. These results come in the context of macroeconomic challenges and a highly inflationary environment in Argentina.

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