trending Market Intelligence /marketintelligence/en/news-insights/trending/3E4DwFdMQqpz9fTO23ni2A2 content esgSubNav
In This List

Ledesma swings to loss in fiscal Q4

The Cobalt Expansion Drive Is A Copper Story

Blog

IPEM 2023: Industry Outlook & Key Takeaways- In Crisis Lies Opportunity

Podcast

Maritime and Trade Talk | EP12: Oil Price Cap - Implications for Trade and Shipping Risk

Podcast

Maritime and Trade Talk | E10: Navigating Maritime Risks from an Insurers’ Perspective?


Ledesma swings to loss in fiscal Q4

Ledesma SA AI said its normalized net income for the fiscal fourth quarter ended May 31 came to a loss of 13 Argentine centavos per share, compared with 15 centavos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 55.7 million pesos, compared with income of 66.7 million pesos in the prior-year period.

The normalized profit margin fell to negative 3.4% from 5.2% in the year-earlier period.

Total revenue increased 21.4% year over year to 1.56 billion pesos from 1.29 billion pesos, and total operating expenses grew 29.5% from the prior-year period to 1.40 billion pesos from 1.08 billion pesos.

Reported net income fell 59.1% year over year to 39.6 million pesos, or 9 centavos per share, from 96.8 million pesos, or 22 centavos per share.

For the year, the company's normalized net income totaled a loss of 34 centavos per share, compared with 18 centavos per share in the prior year.

Normalized net income was a loss of 147.8 million pesos, compared with income of 78.8 million pesos in the prior year.

Full-year total revenue rose 24.5% year over year to 5.81 billion pesos from 4.67 billion pesos, and total operating expenses increased 26.9% on an annual basis to 5.35 billion pesos from 4.22 billion pesos.

The company said reported net income fell 61.5% on an annual basis to 66.0 million pesos, or 15 centavos per share, in the full year, from 171.6 million pesos, or 39 centavos per share.

As of Aug. 10, US$1 was equivalent to 9.22 Argentine pesos.