Holcim (Argentina) (HARG) Q2 2024 earnings summary

Executive summary

• H1 2024 revenue was ARS 156,480 million and net income ARS 18,562 million, both below the inflation-adjusted prior-year period; cement sales remained the dominant revenue source.

• Results include a ARS 44,177 million gain from the net monetary position, while operating performance was pressured by lower sales and a consolidated operating loss of ARS 4,691 million.

Financial highlights

• H1 revenue ARS 156,480 million vs ARS 212,557 million YoY; gross profit ARS 48,173 million vs ARS 82,167 million.

• H1 net income ARS 18,562 million vs ARS 35,278 million; pretax income ARS 21,928 million vs ARS 54,427 million.

• Q2 revenue ARS 77,569 million vs ARS 108,828 million YoY; net income ARS 6,186 million vs ARS 19,224 million.

• H1 basic and diluted EPS ARS 49.64 vs ARS 96.16 YoY.

Segment performance

• Cement-AFR H1 third-party sales ARS 135,958 million vs ARS 194,561 million YoY; segment operating result ARS 16,293 million.

• Aggregates sales ARS 3,406 million vs ARS 3,920 million; operating result ARS 1,007 million.

• Ready-mix concrete sales ARS 4,584 million vs ARS 7,988 million; operating result ARS 568 million.

• Other products and services sales ARS 10,256 million vs ARS 4,312 million; operating loss ARS 643 million.

• Corporate operating result was a loss of ARS 21,916 million, taking the consolidated segment operating result to a loss of ARS 4,691 million.