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Steppe Cement Ltd shares preliminary financial update

Published by , Deputy Editor
World Cement,

Steppe Cement Ltd recorded revenue for the year ended 31 December 2020 of 30 958 million Tenge (KZT), which was 1% higher than the KZT 30 534 million recorded for the corresponding year ended 31 December 2019. In 2020 cement sales volume was 1 645 744 t, lower than the 1 715 761 t achieved for the previous year. The average price (ex-VAT) for delivered cement was KZT 18 811 per t in 2020, a 6% increase compared with KZT 17 796 per t in 2019. The average ex-factory price in 2020 stood at KZT 15 760 per t compared to 14 885 in 2019 representing US$38 per t based on 2020’s average exchange rate of USD/KZT 413 vs 383 in 2019.

In 2020, the cement market consumption in Kazakhstan increased by 6% to 9.4 million t from 8.9 million t in 2019. Steppe Cement’s local market share was 15.4% while exports increased by 30% from 155 000 t in 2019 to 202 000 t in 2020. Overall, Kazakhstan imported 0.6 million t of cement (vs 0.7 million t in 2019) and exported 2 million t (vs 1.6 million t in 2019).

The full results and audited accounts denominated in US dollars are expected to be published in April 2021.

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