Company: Loma Negra Corporation
Symbol: LOMA
Description: Loma Negra is the leading cement producer in Argentina.
Shares: 50.2 million ADSs
Price Range: $15.00-$19.00
Trade Date: 11/1
Underwriter(s): BofA Merrill Lynch, Bradesco BBI, Citigroup, HSBC, Itau BBA, Morgan Stanley
Terms Added: 10-12-17
Business: They believe that the economic recovery of Argentina represents one of the most attractive opportunities in global emerging markets today. Cement consumption is highly correlated to economic activity and they expect demand for cement to grow significantly within the next five years in Argentina. After two decades of capital scarcity across the industry, installed cement production capacity in the country is reaching its limit and Loma Negra Corp believes that Argentina will soon face a structural cement supply deficit. In the first nine months of 2017, cement consumption in Argentina has increased 10.7% year-on-year, according to AFCP.
FINANCIALS: Their net revenues were Ps. 5.94 billion, Ps. 7.87 billion and Ps. 9.87 billion ($594.9 million) and their net profit was Ps. 231.3 million, Ps. 351.5 million and Ps. 502.0 ($30.2 million) in 2014, 2015, and 2016, respectively. In the first half of 2017, their net revenue increased 74.5% to Ps.6.67 billion ($401.8 million), and their net profit increased 342% to Ps.692.0 million ($41.7 million), compared to the same period in the previous year.
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