For the nine months ended September 30, Steppe Cement Ltd recorded revenue of KZT6,964m compared to KZT9080m in the corresponding nine month period in 2008, representing a 23% decline.
Sales volume of 286,896t was achieved during the third quarter, a 35% increase over the third quarter of 2008.
For the first nine months of 2009, the sales volume increased by 17% to 729,123t from 623,870t in the corresponding nine month period in 2008.
Steppe Cement’s wholly-owned subsidiary, Karcement JSC accounted for 30% of the total sales volume.
Average price (ex-VAT) for delivered cement was KZT 9,551 per tonne in the first nine months compared to KZT 14,554 per tonne in the corresponding period in 2008.
For the nine months, ex-factory price stood at KZT 8,518/t representing $56.8 per tonne based on current exchange rates.
For the first nine months of 2009, the cement market in Kazakhstan decreased by 16% 8Mt, from the previously estimated 4.5Mt.
The total market in 2008 was 5.7Mt. Imports into Kazakhstan declined by 42% in 2009 while Steppe Cement’s market share rose to 19% compared to 14% in the corresponding nine month period in 2008.
Cost control measures continued to show progress in line with the announcements on the first half 2009.
