Holcim (Argentina) (HARG) Q2 2025 earnings summary

Executive summary

• H1 2025 revenue was ARS 211,787 million and net income ARS 1,671 million, down from ARS 218,165 million and ARS 25,879 million in H1 2024; figures are restated for inflation.

• Q2 revenue was ARS 107,947 million vs. ARS 108,147 million YoY, while net income fell to ARS 229 million from ARS 8,624 million.

Financial highlights

• H1 gross profit was ARS 56,104 million vs. ARS 67,163 million; distribution and selling expenses were ARS 43,673 million vs. ARS 47,535 million.

• H1 administrative expenses were ARS 13,187 million vs. ARS 15,107 million; other operating income was ARS 5,303 million vs. an expense of ARS 11,062 million.

• Net monetary position gain was ARS 18,464 million vs. ARS 61,592 million; financial expenses were ARS 24,138 million vs. ARS 28,585 million.

• H1 cash and equivalents closed at ARS 2,671 million, down from ARS 22,050 million at Dec. 31, 2024; total assets were ARS 902,133 million and equity ARS 550,857 million.

Outlook and guidance

• Cement, aggregates and concrete demand is seasonal; sales usually increase slightly from August to November, subject to weather conditions.