Steppe Cement preliminary full-year update

Kazakhstan-based producer Steppe Cement Ltd achieved a cement sales volume of 1.61Mt in 2014, up 18 per cent on the over the 1.3Mt in the previous year.

Revenue for the year ended 31 December 2014 was KZT20,925m, seven per cent higher than the KZT19,469m recorded for the corresponding year ended 31 December 2013.
 
The average price (ex-VAT) for delivered cement was KZT12,975/t, down nine per cent Yo compared with KZT14,245/t for the corresponding period of 2013. For 2014, the average ex-factory price stood at KZT 10,812/t representing US$60/t based on 2014's average exchange rate.
 
Rise in domestic consumption
Tthe cement market consumption in Kazakhstan is estimated to have increased four per cent YoY to 8.5Mt in 2014, according to the company. Steppe Cement said its market share rose from 17 per cent in 2013 to 19 per cent in 2014.
 
During 2014, Kazakhstan imported 1.1Mt of cement, mostly to West Kazakhstan, and exported 0.5Mt.