Financial Data and Key Metrics Changes - The company reported an adjusted EBITDA of $40 million, reflecting a 3.2% decrease in pesos, translating to $36 per ton [9][20] - Net profit attributable to owners of the company totaled ARS 21.5 billion, down from ARS 79 billion in the first quarter of 2024, primarily due to lower financial results [23] - The net debt increased sequentially to ARS 187 billion, with a debt to EBITDA ratio of 0.96x, slightly up from 0.89x at the end of 2024 [24][25] Business Line Data and Key Metrics Changes - The Cement segment experienced a 10.9% revenue drop despite an 8.9% year-over-year increase in volumes, attributed to a softer pricing environment [14] - Concrete revenues declined by 1.4%, with a 22.8% increase in volumes offset by price pressures [14] - The Aggregates segment saw a 14.2% revenue decline despite a 29% increase in sales volumes, impacted by a weak market and pricing dynamics [15][22] Market Data and Key Metrics Changes - Cement consumption showed improvement, with April figures indicating a 28% year-over-year increase and a 14% sequential increase [12][8] - The Argentine economy is projected to grow approximately 5% in 2025, following a 1.7% contraction in 2024 [11][7] - The construction sector is expected to benefit from this economic growth, potentially fueling a more robust recovery [7] Company Strategy and Development Direction - The company remains focused on driving efficiency and controlling costs to protect profitability while delivering quality products and services [29] - The management expressed optimism about the recovery in the construction sector and the overall economy, anticipating a more sustained recovery in the coming quarters [27][28] - The company is also looking to capitalize on investment projects that have been on hold due to previous economic uncertainties [28] Management Comments on Operating Environment and Future Outlook - Management noted that the industry is still in the early stages of recovery, with expectations for a stronger performance as the year progresses [12][28] - The stabilization of economic conditions and easing of capital controls are seen as critical steps for long-term benefits [28] - The management is optimistic about the potential for growth in cement volumes, expecting double-digit growth in 2025 [42] Other Important Information - The company invested ARS 11.1 billion in capital expenditures during the quarter, mainly for ongoing projects [24] - SG&A expenses decreased by 7.8%, primarily due to lower marketing and IT expenditures [19] Q&A Session Summary Question: Competitive dynamics and market share - Management indicated that market share dynamics are in line with their strategy, and climate issues impacted different regions [32][34] Question: Pricing power and cement volume expectations - Management expects pricing to remain around $115 per ton and anticipates a year-over-year growth in cement volumes in the range of 15% to 20% [39][42] Question: Volume outlook and project backlogs - Management is optimistic about upcoming projects, particularly in the renewable energy and public works sectors, which are expected to drive demand [48]

Loma Negra (LOMA) Q1 2025 Earnings Call May 07, 2025 10:00 AM ET Company Participants Diego Jalón - IR ManagerSergio Faifman - Vice-President of Board & CEOMarcos Isabelino Gradin - Chief Financial OfficerAlejandra Obregón Martínez - Vice President Equity ResearchDaniel Rojas Vielman - Vice President Conference Call Participants Marcelo Furlan Palhares - Equity Research Analyst Operator Good morning and welcome to the Loma Negra First Quarter twenty twenty five Conference Call and Webcast. All participants ...

Loma Negra (LOMA) Q1 2025 Earnings Call May 07, 2025 10:00 AM ET Speaker0 Good morning and welcome to the Loma Negra First Quarter twenty twenty five Conference Call and Webcast. All participants will be in listen only mode. After today's presentation, there will be an opportunity to ask questions. Also, Sergio Faifman will be responding in Spanish immediately following an English translation. Please note this event is being recorded. I would now turn the conference over to Mr. Diego Jalon, Head of IR. Plea ...

Conference Call 1Q25-Results Disclaimer and Forward-Looking Statement This presentation may contain forward-looking statements within the meaning of federal securities law that are subject to risks and uncertainties. These statements are only predictions based upon our current expectations and projections about possible or assumed future results of our business, financial condition, results of operations, liquidity, plans and objectives. In some cases, you can identify forward-looking statements by terminol ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Table of Contents Washington, D.C. 20549 ______________________________ FORM 20-F ______________________________ o REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED December 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR o SHELL COMPANY REPO ...

Group 1 - The company is a leader in the Argentine cement industry, attributed to its dominant market position and vertical integration of products and services [1] - The long-term attractiveness of the company is emphasized, indicating solid potential for growth [1]

Long-only investment, evaluating companies from an operational, buy-and-hold perspective.Quipus Capital does not focus on market-driven dynamics and future price action. Instead, our articles focus on operational aspects, understanding the long-term earnings power of companies, the competitive dynamics of the industries where they participate, and buying companies that we would like to hold independently of how the price moves in the future. Most QC calls will be holds, and that is by design. Only a very sm ...

Loma Negra (LOMA) Q4 2024 Earnings Call March 07, 2025 06:01 PM ET Company Participants Diego Jalón - IR ManagerSergio Faifman - Vice-President of Board & CEOMarcos Isabelino Gradin - Chief Financial Officer Conference Call Participants Alejandra Obregon - AnalystMarcelo Furlan Palhares - Equity Research AnalystNone - AnalystEsteban Arrieta - Equity Analyst Operator Good morning, and welcome to the Loma Negra Fourth Quarter twenty twenty four Conference Call and Webcast. All participants will be in listen o ...

Conference Call 4Q24-Results Disclaimer and Forward-Looking Statement Note: Loma Negra's financial information has been prepared in accordance with the Argentine Securities Commission (Comisión Nacional de Valores-CNV) and with International Financial Reporting Standards. Following the categorization of Argentina as a country with a three-year cumulative inflation rate greater than 100%, the country is considered highly inflationary in accordance with IFRS. Consequently, starting July 1, 2018, the Company i ...

[Performance Overview](index=1&type=section&id=Performance%20Overview) The company navigated a challenging year, achieving significant EBITDA margin expansion and net profit turnaround while improving leverage [CEO Commentary](index=1&type=section&id=CEO%20Commentary) CEO Sergio Faifman highlighted resilience and market leadership in a challenging 2024, noting significant 4Q24 EBITDA margin expansion and anticipating gradual recovery - The company navigated a challenging 2024 characterized by a downturn in the construction industry, reaffirming its resilience, adaptability, and leadership in Argentina's cement market[5](index=5&type=chunk) - In 4Q24, the company achieved a significant **EBITDA margin expansion of over 600 basis points**, driven by a focus on improving efficiency amidst declining volumes[6](index=6&type=chunk) - Management views 2024 as a transition year, with the most difficult period concluded and an expectation of gradual recovery strengthening alongside the overall economy[7](index=7&type=chunk) [Key Highlights](index=1&type=section&id=Key%20Highlights) FY24 saw revenue and EBITDA declines but margin expansion and net profit turnaround, with 4Q24 showing EBITDA growth and margin surge, improving leverage to 0.89x FY24 Key Financial Metrics (YoY) | Metric | FY24 | % Change YoY | | :--- | :--- | :--- | | Net Revenue | Ps. 699,179 million | -23.9% | | Adjusted EBITDA | Ps. 180,987 million | -17.2% | | Adjusted EBITDA Margin | 25.9% | +211 bps | | Net Profit | Ps. 153,627 million | +628.8% | 4Q24 Key Financial Metrics (YoY) | Metric | 4Q24 | % Change YoY | | :--- | :--- | :--- | | Net Revenue | Ps. 174,173 million | -19.5% | | Adjusted EBITDA | Ps. 50,589 million | +2.4% | | Adjusted EBITDA Margin | 29.0% | +623 bps | | Net Profit (Loss) | Ps. 22,118 million | n/a (vs. Loss of Ps. 43,963M) | - The **Net Debt/LTM Adjusted EBITDA ratio significantly improved**, decreasing to **0.89x** from 1.40x in FY23, reflecting a US$20 million reduction in indebtedness during the quarter[8](index=8&type=chunk)[9](index=9&type=chunk) [Operational Performance](index=4&type=section&id=Overview%20of%20Operations) This section analyzes sales volumes across key segments, highlighting declines in construction materials and growth in the Railroad segment [Sales Volumes Analysis](index=4&type=section&id=Sales%20Volumes) 4Q24 saw declines in Cement, Concrete, and Aggregates volumes, with bagged cement showing resilience and Railroad volumes growing, while FY24 experienced broad-based declines Sales Volumes by Segment (YoY % Change) | Segment | 4Q24 % Chg. | FY24 % Chg. | | :--- | :--- | :--- | | Cement, masonry & lime | -14.1% | -23.7% | | Concrete | -14.4% | -31.8% | | Railroad | +3.1% | -13.4% | | Aggregates | -3.1% | -24.8% | - In 4Q24, bagged cement showed stronger resilience, declining less than the industry average, while bulk cement was more affected by low activity in large private construction projects and public works[12](index=12&type=chunk) - The Railroad segment's volume increased by **3.1% in 4Q24**, as higher transported volumes of grains and fracsand more than offset the decline in construction materials[14](index=14&type=chunk) - For FY24, the decline in volumes was most pronounced in **Concrete (-31.8%)** and **Aggregates (-24.8%)**, heavily impacted by the economic slowdown and halt in public works[16](index=16&type=chunk) [Detailed Financial Review](index=6&type=section&id=Review%20of%20Financial%20Results) This section provides an in-depth analysis of the company's profit and loss, financial position, and cash flow performance [Profit & Loss Analysis](index=6&type=section&id=Profit%20%26%20Loss%20Analysis) Despite revenue drops, 4Q24 gross profit remained stable with significant margin expansion due to cost controls, leading to a net profit turnaround [Net Revenues](index=6&type=section&id=Net%20Revenues) 4Q24 net revenue fell 19.5% YoY, primarily due to declines in Cement, Concrete, and Aggregates, with FY24 also seeing a significant overall decrease - 4Q24 net revenue decreased **19.5% YoY** to **Ps. 174,173 million**, mainly from the Cement segment's performance[19](index=19&type=chunk) - By segment, 4Q24 YoY revenue changes were: Cement **-19.9%**, Concrete **-26.9%**, Aggregates **-34.2%**, and Railroad **-3.2%**[20](index=20&type=chunk)[21](index=21&type=chunk)[22](index=22&type=chunk) - FY24 net revenue declined **23.9%** to **Ps. 699,179 million**, driven by weaker performance in the core Cement business amid an economic contraction[24](index=24&type=chunk) [Cost of Sales and Gross Profit](index=6&type=section&id=Cost%20of%20sales,%20and%20Gross%20profit) 4Q24 cost of sales decreased significantly, outpacing revenue decline due to lower volumes and strict cost management, resulting in substantial gross profit margin expansion - Cost of sales in 4Q24 fell **26.5% YoY**, driven by lower sales volumes, reduced depreciation, and strict cost management, including favorable energy contracts and lower freight and salary expenses[25](index=25&type=chunk) - Gross profit margin in 4Q24 expanded by **640 basis points** to **32.6%**, despite the decline in sales volumes[27](index=27&type=chunk) - For the full fiscal year 2024, gross profit margin expanded by **166 basis points** to **26.7%**[27](index=27&type=chunk) [Selling and Administrative Expenses (SG&A)](index=8&type=section&id=Selling%20and%20Administrative%20Expenses) 4Q24 SG&A expenses decreased due to cost reductions, but increased as a percentage of sales due to lower revenue, with FY24 also showing a decrease - 4Q24 SG&A decreased **3.9%** to **Ps. 20,847 million** due to lower turnover tax, freight, and insurance costs[28](index=28&type=chunk) - As a percentage of sales, SG&A rose by **195 basis points** to **12.0%** in 4Q24, a consequence of the lower top line[28](index=28&type=chunk) [Adjusted EBITDA & Margin](index=8&type=section&id=Adjusted%20EBITDA%20%26%20Margin) 4Q24 Adjusted EBITDA grew with significant margin expansion, primarily driven by the Cement segment, despite negative margins in Concrete and Aggregates, with FY24 also seeing margin expansion Adjusted EBITDA & Margin (4Q24 vs 4Q23) | Metric | 4Q24 | 4Q23 | % Chg. | | :--- | :--- | :--- | :--- | | Adjusted EBITDA | Ps. 50,589 million | Ps. 49,385 million | +2.4% | | Adjusted EBITDA Margin | 29.0% | 22.8% | +623 bps | - The Cement segment's Adjusted EBITDA margin expanded by **815 basis points** to **33.7%** in 4Q24[31](index=31&type=chunk) - The Concrete and Aggregates segments' Adjusted EBITDA margins contracted to **-6.1%** and **-8.9%** respectively in 4Q24[32](index=32&type=chunk) [Finance Costs-Net and Net Profit](index=10&type=section&id=Finance%20Costs-Net%20and%20Net%20Profit) The company reported a significant net financial gain in 4Q24, reversing a prior-year loss due to lower exchange rate impacts, leading to a substantial net profit for the quarter and full year - A net financial gain of **Ps. 857 million** was reported in 4Q24, compared to a loss of **Ps. 81,281 million** in 4Q23, mainly due to a lower impact from exchange rate differences[36](index=36&type=chunk) - 4Q24 Net Profit was **Ps. 22,118 million**, reversing a **Ps. 43,963 million** loss in 4Q23, driven by improved operational performance and a better financial result[39](index=39&type=chunk) - FY24 Net Income Attributable to Owners rose to **Ps. 153,810 million** from **Ps. 22,441 million** in FY23, primarily due to lower net financial costs and exchange rate impacts[41](index=41&type=chunk) [Financial Position and Cash Flow](index=10&type=section&id=Financial%20Position%20and%20Cash%20Flow) Loma Negra significantly strengthened its balance sheet by reducing net debt and improving its leverage ratio, while generating substantial operating cash flow [Capitalization and Debt](index=10&type=section&id=Capitalization%20and%20Debt) At year-end 2024, total net debt decreased significantly, leading to a substantial improvement in the Net Debt/LTM Adjusted EBITDA ratio, with a well-balanced, primarily USD-denominated debt Debt Profile (as of Dec 31, 2024) | Metric | Value | Comparison (vs. Dec 31, 2023) | | :--- | :--- | :--- | | Total Net Debt | Ps. 162,348 million | -47.0% | | Net Debt / LTM Adj. EBITDA | 0.89x | from 1.40x | - As of December 31, 2024, **91%** of the company's total debt was denominated in U.S. dollars[42](index=42&type=chunk) - The company's debt maturity profile is well-balanced, with no bond maturities until the fourth quarter of 2025[45](index=45&type=chunk) [Cash Flow Analysis](index=12&type=section&id=Cash%20Flow%20Analysis) 4Q24 operating cash flow decreased slightly due to working capital changes, with significant cash generated from operations for FY24, alongside substantial capital investments - Cash generated from operating activities in 4Q24 was **Ps. 47,776 million**, compared to Ps. 57,040 million in 4Q23[46](index=46&type=chunk) - In 4Q24, **Ps. 21,429 million** was used for investing activities (primarily maintenance CAPEX) and **Ps. 31,193 million** for financing activities (mainly debt repayments)[47](index=47&type=chunk) - For FY24, capital investments totaled **Ps. 72,004 million**, while cash flow generated by operating activities was **Ps. 124,718 million**[48](index=48&type=chunk) [Appendix](index=14&type=section&id=Appendix) This section provides supplementary information including conference call details, definitions of key financial measures, and detailed financial statements [Conference Call Information](index=14&type=section&id=4Q24%20Earnings%20Conference%20Call) This section provides logistical details for the 4Q24 earnings conference call, including dial-in numbers, webcast link, and replay information - The earnings conference call was scheduled for **10:00 a.m. U.S. ET on March 7, 2025**, with dial-in and webcast details provided[50](index=50&type=chunk) [Definitions](index=14&type=section&id=Definitions) This section defines key non-GAAP financial measures used throughout the report, including Adjusted EBITDA and Net Debt - **Adjusted EBITDA**: Calculated as net profit plus financial interest (net), income tax expense, depreciation and amortization, exchange rate differences, other financial expenses (net), and tax on debits and credits to bank accounts[51](index=51&type=chunk) - **Net Debt**: Calculated as total borrowings less cash, cash equivalents, and short-term investments[52](index=52&type=chunk) [Financial Statements](index=16&type=section&id=Financial%20Statements) This section contains detailed, unaudited condensed interim consolidated financial statements for the periods ended December 31, 2024 and 2023 - The report includes the Condensed Interim Consolidated Statements of Financial Position as of December 31, 2024 and 2023[58](index=58&type=chunk) - The report includes the Condensed Interim Consolidated Statements of Profit or Loss for the three and twelve-month periods ended December 31, 2024 and 2023[60](index=60&type=chunk) - The report includes the Condensed Interim Consolidated Statement of Cash Flows for the three and twelve-month periods ended December 31, 2024 and 2023[62](index=62&type=chunk) - The report provides a table with Financial Data by Segment (excluding the impact of IAS 29) for the three and twelve-month periods ended December 31, 2024 and 2023[64](index=64&type=chunk)