Overview

• The company recorded a net loss of ARS 19.485 billion in the first half of 2025 against net revenues of ARS 437.542 billion, down 19.7% in real terms year-on-year.
• Domestic sales volume grew 1.9% but average selling prices rose just 11.1% nominally versus 39.4% inflation, triggering a real-terms price decline.
• Unit selling costs climbed above price increases, driving significant margin compression and the overall net loss.
• A strict cost-control program delivered an 8.6 percentage-point improvement in combined selling and administrative expenses as a share of sales from the previous quarter.
• Exports expanded by 21.8% in the first half as the company seeks to offset weak local consumption and reinforce its financial position.