LOMA · Loma Negra Compañía Industrial Argentina Sociedad Anónima

Loma Negra reported a solid start to 2026, with net revenues increasing 1.1% to Ps. 218.7 billion, driven by a 1.8% rise in cement volumes and strong performance in concrete and railroad segments. Adjusted EBITDA grew 5.1% to Ps. 54.6 billion, with margin expanding 94 basis points to 24.9%, reflecting cost discipline and operational efficiency. Gross margin contracted slightly by 37 bps to 26.1% due to higher cost of sales in cement, but sequentially improved. SG&A expenses decreased 3.9% as a percentage of sales. Net profit attributable to owners surged to Ps. 41.0 billion from Ps. 28.5 billion, primarily due to a Ps. 32.4 billion finance gain, including a Ps. 12.0 billion foreign exchange gain from peso appreciation. The company issued a US$ 60 million corporate bond in January 2026, enhancing its debt maturity profile. Net debt stood at Ps. 259.4 billion (US$ 186 million), with a net debt to LTM adjusted EBITDA ratio of 1.33x, down from 1.47x in FY25. Operating cash flow improved significantly to Ps. 19.7 billion from a use of Ps. 1.8 billion in the prior year, driven by lower working capital requirements. Management remains cautiously optimistic, citing improved March dynamics and key growth drivers, while focusing on margin recovery and cost discipline. The restructuring of the indirect controlling shareholder marks a new phase for the company.