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Steppe Cement Ltd shares preliminary financial update

Published by
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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