Argentina: Loma Negra, Argentina’s leading cement producer, saw its net revenue decline by 2% to US$165m in the second quarter of 2019, with its earnings before interest, tax, depreciation and amortisation (EBITDA) rising by 7.1% to US$44m. This was driven by the domestic cement, lime and masonry sector.
Sergio Faifman, CEO of Loma Negra, said, “We are pleased to announce another set of solid results, our business continues to deliver adjusted EBITDA margin expansion based on our constant focus in profitability and cost enhancement initiatives. In this sense, during this quarter we adjusted our production-footprint by reconverting the Barker facility to a grinding and distribution centre, this initiative will let us be a more efficient and agile company. Considering the Argentine context, our business continues to deliver both adjusted EBITDA margin expansion and Net income growth.”