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Steppe Cement shares market update for Q3

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World Cement,

Third quarter 2020 revenue of KZT11 114 million was 5% higher than revenue of KZT10 560 million achieved in the corresponding quarter in 2019. For the 9 months ended 30 September 2020 Steppe Cement Ltd recorded revenue of KZT24 804 million compared with KZT24 639 million in the corresponding 9-month period in 2019, representing a 1% increase.

A sales volume of 556 162 t was achieved during the third quarter, a 4% decrease from the third quarter of 2019 due to prioritising price vs volume in the third quarter. For the first 9 months of 2020, the sales volume decreased by 3% to 1 316 509 t from 1 357 007 t in the corresponding 9-month period in 2019.

The average price (ex-VAT) for delivered cement was KZT18 841 per t in the first 9 months compared with KZT18 157 per t last year. For the first 9 months of 2020, the ex-factory price stood at KZT15 919 per t, an increase of 4% over KZT15 301 in 2019.

For the first 9 months of 2020, the cement market in Kazakhstan was 7.3 million t, 4% higher than in 2019. Imports stood at 6% of total consumption slightly below 2019. Exports from Kazakhstan increased by 20% to 1.6 million t. The current estimate of the cement market for 2020 is 9.1 million t or 2% above 2019, with Steppe Cement’s market share at 16%.

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