Cement News tagged under: Kazakhstan

RSS feed

Kazakhstan: Steppe Cement refinances US$15m loans

01 December 2016, Published under Cement News

Steppe Cement has announced that it has refinanced two loans worth a combined US$15.3m, StockMarketWire reports. A loan of US$5.5m due this month has split into three tranches, the last of which now falls due in November 2018. A US$9.8m loan contracted in 2014 will now be repaid in equal monthly instalments until November 2021. "The refinancing exercise allows Steppe Cement to spread the repayment of principals over the coming years and paves the way to pay dividends consistently once ...

Kazakhstan: a nation’s vision

17 October 2016, Published under Cement News

While the need for infrastructure and housing is considerable in Kazakhstan, lower oil receipts, a depreciating tenge and sluggish global growth conspire against elevated levels of public spending. However, the government has pinned its hopes on foreign investment to meet construction demand as well as expand the cement production base, which in turn will reduce expensive imports. While cement demand growth rates of the past are not expected going forward, Kazakhstan still has a co...

Kazakh cement consumption shows signs of slowing

11 October 2016, Published under Cement News

Cement consumption growth in Kazakhstan is expected to decelerate in 2016, breaking with the decade-long trend of demand expansion of 15-30 per cent annually. Only in 2009, consumption dropped. "We anticipate cement demand nationwide to decline by up to five YoY this year, from two per cent growth last year," Javier del Ser, CEO of London-listed Steppe Cement, told the Nikkei Asian Review. Other economic indicators are also sparking fears of a prolonged downturn. Industrial production ...

Kazakhstan: struggling economy hits cement industry

07 October 2016, Published under Cement News

With a slump in oil prices, geopolitical tension between Russia and the West, and a slowdown in the Chinese economy, Kazakhstan’s GDP grew just 0.1 per cent YoY in 1H16. Following the decision of the central bank to partly float the currency, the tenge has fallen from KZT140 to the US$ to KZT340 over the past 30 months. Despite these struggles, construction activity is frenetic in Astana, the country’s capital. US$2bn of government infrastructure projects are underway for Astana Expo 2017...

Kazakhstan: Steppe Cement 1H16

26 September 2016, Published under Cement News

Steppe Cement's 1H16 revenues fell 47 per cent YoY to US$24m, despite the company seeing a  six per cent YoY increase in cement sales volumes. The decline in revenue was driven by the sharp depreciation in the tenge, while strong competition in the market resulted in further price falls. Steppe Cement's average ex-works price decreased nine per cent YoY to KZT8781/t in 1H16, while in US dollars terms the ex-works prices declined 51 per cent YoY to US$26/t. As a result, despite the s...

Kazakhstan: Steppe Cement 1H loss falls in dollar terms

14 September 2016, Published under Cement News

Steppe Cement has published its financial results for the first six months of 2016. Losses in dollar terms fell to US$1.5m from US$2.2m in the same period in 2015. However, due to a revaluation of the tenge, losses in the company’s operating currency rose from KZT407m (US$1.2m) in 1H2015 to KZT517.5m in 1H2016. Turnover fell by 1.1 per cent to KZT8.2bn, but sales rose 6.1 per cent in volume terms to 0.76Mt. Revenues were hit by a fall in prices, which were down 9.1 per cent to KZT8781/t, ...

Vicat's 1H16 results in the USA continue to improve

04 August 2016, Published under Cement News

Vicat's first half turnover eased by 0.4 per cent to EUR1237m, which amounts to a 4.3 per cent increase on a comparative basis. The EBITDA improved by 2.3 per cent to EUR208m and the margin improved from 16.3 per cent to 16.8 per cent. The trading profit moved ahead by 11.2 per cent to EUR103m, with the underlying margin improving by 16.5 per cent. The net attributable profit improved by 45.7 per cent to EUR49m, while net debt at the end of the period amounted to EUR1059m and the gearing le...

Kazakhstan: Steppe Cement sees 6% rise in 1H16 sales

14 July 2016, Published under Cement News

Steppe Cement Ltd sold 761,771t of cement for KZT8190m (US$23,970.4) during the first half of the year, a rose six per cent compared with 717,654t of cement for KZT8277m a year earlier. Average price for the current period for delivered cement was KZT10,751/t (ex VAT), compared with KZT11,533/t in the corresponding period of 2015 as companies defended their market shares, the company said. Steppe Cement's local market share increased to 18 per cent in the 1H16 from 16 per cent in the same ...

Kazakhstan: constructions begins on Kyzylorda plant

20 June 2016, Published under Cement News

Construction on a 560,000tpa capacity cement plant has begun in the Kyzylorda region of Kazakhstan, reports the regional akimat. The investment project valued 30.2bnt (US$89.2m) is between Meliorator Ltd and Russian company Global Security. Som 250 workers are helping with construction and after the launch of the plant 320 work places will be opened. "Due to use of new technologies the plant will be environmentally friendly industry. It will be the first cement plant in the region," said K...

Kazakhstan: devalued tenge affects Steppe Cement

25 May 2016, Published under Cement News

The sharp devaluation of the Kazakh tenge saw the 2015 results of Steppe Cement affected as import pressures waned. Until August 2015 local producers had to lower their selling prices to fend of imports into Kazakhstan due to the relative strength of the tenge against the rouble. As a result, sales volumes in tonnes rose by only two per cent YoY to 1,643,136t in 2015 from 1,612,709 in 2014 while prices fell by eight per cent. After September imports slowed significantly, along with the econo...