Financial Performance - Loma Negra reported net sales revenues of Ps. 174,511 million (US$149 million) in 2Q25, a decrease of 8.0% year-over-year, primarily due to a 9.9% decline in the Cement segment[8] - Consolidated Adjusted EBITDA reached Ps. 37,005 million (US$34 million), down 30.6% year-over-year, with an Adjusted EBITDA margin of 21.2%, a decline of 691 basis points from 28.1%[8] - Net profit for the quarter was Ps. 385 million, a significant drop of 99.1% compared to Ps. 41,246 million in 2Q24, mainly due to decreased net finance results[8] - Gross profit decreased by 30.5% in Q2 2025, totaling Ps. 35,594 million compared to Ps. 51,215 million in Q2 2024[24] - Net profit for Q2 2025 was Ps. 0.4 billion, a significant decline from Ps. 41.2 billion in the same period last year[34] - Net revenue for Q2 2025 decreased by 8.0% to 174,511 million pesos compared to 189,753 million pesos in Q2 2024[56] - Gross profit for the six-month period ended June 30, 2025, was 81,324 million pesos, down 18.0% from 99,214 million pesos in the same period of 2024[56] - The net profit for the period in Q2 2025 was 385 million pesos, a significant decrease from 41,246 million pesos in Q2 2024[60] Segment Performance - Cement dispatch volumes grew by 11.1% year-over-year, reaching 1.21 million tons, indicating a continued recovery in the sector[12] - The Concrete segment saw a 44.0% increase in volumes, although revenue declined by 1.1% due to competitive pricing pressures[20] - The Aggregates segment experienced a 34.1% increase in sales volumes, but revenue growth was nearly flat at 0.8% year-over-year due to weaker pricing dynamics[21] - Railroad revenues declined by 8.6% in 2Q25, despite a 10.6% increase in transported volumes, impacted by pricing conditions and disruptions in service[22] - The cement, masonry cement, and lime segment contributed 149,622 million pesos, accounting for 87.1% of total net revenue in Q2 2025[60] - The railroad segment generated 15,907 million pesos in revenue for Q2 2025, a 30.4% increase from 12,165 million pesos in Q2 2024[60] - The aggregates segment's revenue increased to 4,774 million pesos in Q2 2025, up from 3,305 million pesos in Q2 2024, reflecting a growth of 44.5%[60] Cost and Expenses - Selling and administrative expenses (SG&A) increased by 5.3% to Ps. 18,676 million in Q2 2025, with SG&A as a percentage of sales rising by 135 basis points to 10.7%[25] - Cost of sales increased to 119,521 million pesos in Q2 2025, up from 76,011 million pesos in Q2 2024, representing a 57.2% rise[60] - Selling, administrative expenses, and other gains & losses totaled 15,753 million pesos in Q2 2025, compared to 10,945 million pesos in Q2 2024, marking a 43.5% increase[60] - Depreciation and amortization expenses rose to 2,659 million pesos in Q2 2025, up from 1,269 million pesos in Q2 2024, an increase of 109.5%[60] Debt and Financing - A successful bond issuance in July raised US$112.9 million, aimed at meeting upcoming short-term maturities while maintaining a healthy debt profile[8] - Net Debt stood at Ps. 256,186 million (US$215 million), with a Net Debt/LTM Adjusted EBITDA ratio of 1.34x, up from 0.89x in FY24[8] - Total debt as of June 30, 2025, was Ps. 272,081 million, with 99% classified as short-term debt[37] - Net Debt to Adjusted EBITDA (LTM) ratio increased to 1.34x as of June 30, 2025, up from 0.89x at the end of 2024[39] - The company generated Ps. 45,605 million in cash from financing activities during Q2 2025, primarily from new borrowings[44] Cash and Assets - Cash and cash equivalents at the end of Q2 2025 were Ps. 15,894 million, compared to Ps. 4,294 million at the end of Q2 2024[42] - Cash and cash equivalents at the end of Q2 2025 were 15,894 million pesos, up from 11,567 million pesos in Q2 2024[58] - Total assets as of June 30, 2025, increased to 1,647,447 million pesos from 1,620,947 million pesos as of December 31, 2024[54] - Current liabilities rose to 394,378 million pesos as of June 30, 2025, compared to 308,254 million pesos at the end of 2024, indicating increased financial obligations[54] Other Financial Metrics - The company reported a finance cost reduction of 59.2% in Q2 2025, amounting to 9,775 million pesos compared to 23,930 million pesos in Q2 2024[56] - The company experienced a 75.5% decrease in gain on net monetary position, dropping to 17,079 million pesos in Q2 2025 from 69,597 million pesos in Q2 2024[56] - Earnings per share for Q2 2025 were 0.6809 pesos, a drastic decline of 99.0% from 70.7981 pesos in Q2 2024[56] - Adjusted EBITDA for Q2 2025 was 39,218 million pesos, compared to 44,836 million pesos in Q2 2024, reflecting a decrease of 12.0%[60] - The concrete segment reported a negative adjusted EBITDA of (1,713) million pesos in Q2 2025, worsening from (148) million pesos in Q2 2024[60]
Loma Negra pania Industrial Argentina Sociedad Anonima(LOMA) - 2025 Q2 - Quarterly Report