Holcim (Argentina) (HARG) Q3 2025 earnings summary

Executive summary

• 9M 2025 sales were $345,005 million and net loss was $18,574 million, versus sales of $363,436 million and net income of $34,448 million in 9M 2024.

• Operating cash flow turned negative at $79,529 million, compared with $26,874 million generated in 9M 2024.

Financial highlights

• 9M gross profit was $84,822 million, down from $98,556 million; Q3 gross profit was $25,370 million versus $27,384 million YoY.

• Q3 sales were $125,548 million versus $132,936 million; the quarter’s net loss was $20,346 million versus net income of $7,022 million YoY.

• 9M financial expenses increased to $52,712 million from $34,961 million, while the monetary-position gain decreased to $30,846 million from $79,495 million.

• Cash and equivalents fell to $2,750 million at September 30, 2025, from $23,305 million at December 31, 2024.

Segment performance

• Cement-AFR net sales were $287,729 million and operating result was $25,255 million, versus $317,844 million and $39,625 million in 9M 2024.

• Aggregates net sales were $6,074 million and operating result was $792 million, versus $7,958 million and $899 million in 9M 2024.

• Concrete net sales were $24,920 million; its operating loss was $3,133 million, versus a $145 million loss in 9M 2024.

• Other products and services net sales were $26,282 million and operating result was $528 million, versus $27,542 million and $1,174 million in 9M 2024.