Loma Negra Compania Industrial Argentina Sociedad Anonima (LOMA) has released an update.
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Loma Negra, Argentina’s premier cement producer, announced a challenging first quarter for 2024 with net sales revenues dropping 27% year-over-year, primarily due to a 31.3% fall in Cement segment sales volumes. Despite the downturn, the company achieved a 151% increase in net profit, attributed to a substantial finance gain. The company’s CEO remains cautiously optimistic about recovery, citing the country’s economic stabilization efforts and Loma Negra’s robust business foundations.
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