Cement News tagged under: Steppe Cement Ltd

RSS feed

Steppe Cement announces alternate directors

02 October 2020, Published under Cement News

Steppe Cement has announced that Gan Chee Leong and Charles Tingey have been appointed as alternate directors to the CEO, Javier del Ser Perez, and independent non-executive director, Rupert Wood, respectively, with immediate effect. The alternate directors will represent the CEO and non-executive director in board meetings held in Malaysia due to the impact of the COVID-19 pandemic on travel arrangements.

Steppe Cement records net profit of US$9.7m in 2019

11 June 2020, Published under Cement News

Steppe Cement has released its annual results for 2019 and records a net profit of US$9.7m. EBITDA increased to US$23.9m from US$21.4m in 2018 aided by higher prices. The Kazakhstan-based producer sold 1.715Mt in 2019, compared to 1.72Mt in 2018. The company's domestic cement sales grew by four per cent, while its exports fell by 29 per cent due to increased competition from new plants in Uzbekistan and Kyrgyzstan, and the strength of the tenge against the som in the 2H19. Both kiln lines...

Steppe Cement 1Q20 cement sales fall by 11%

16 April 2020, Published under Cement News

In the 1Q20 Steppe Cement Ltd sold 235,896t of cement for KZT4003m (US$9.4m) compared to 266,393t in the 1Q19, a decline of 11 per cent. Kazakhstan's cement market increased in 1Q20 by 15 per cent over the corresponding period of the previous year. The company maintained pricing over volumes in the 1Q20 but saw its market share decrease to 13.3 per cent from 17.4 per cent in the 1Q19. The average price for delivered cement in the 1Q20 was KZT16,970/t, compared with KZT16,723/t in the 1Q...

Steppe Cement suffers weak 3Q19

08 October 2019, Published under Cement News

Steppe Cement Ltd of Kazakhstan had a weak third-quarter performance but said year-to-date revenue benefitted from rising cement prices. The construction materials producer said revenue in the three months to the end of September was 10 per cent lower compared with the prior year, at KZT10.56bn (US$27.1m). A cement sales volume of 576,692t was achieved by Steppe Cement during the 3Q19, an 11 per cent decrease from the 3Q18. However, for the first nine months of 2019 revenue rose by 10 per...

A rejuvenated Kazakhstan cement market?

12 April 2019, Published under Cement News

This week Steppe Cement reported its 1Q19 business results with an exceptionally-strong performance when compared with the 1Q18. The market leader increased its market share to 17.4 per cent on the back of strong cement demand and price rises. Steppe Cement reported ex-works prices rising to KZT13,614/t (US$35.93/t) of cement. Ambitious construction projects drive cement demand Underlying the sudden upward trend in Kazakh cement demand is the country’s housing boom and investment in l...

Steppe Cement sees revenue up 32% in 2018

11 January 2019, Published under Cement News

Steppe Cement Ltd reported 2018 revenue of KZT28.34bn (US$75.4m), up 32 per cent YoY. The Kazakhstan cement producer had cement volumes of 1.7Mt, a rise of six per cent while the average cement price rose by 25 per cent YoY to KZT16,480/t. Steppe Cement's market share increased to 17.5 per cent, while the company's exports rose by 50 per cent to 146,000t. Despite this positive set of results, cement consumption in Kazakhstan fell by four per cent to 8.8Mt last year.

Steppe Cement posts 22% turnover increase in 1H18

18 September 2018, Published under Cement News

Kazakhstan’s Steppe Cement recorded a 22 per cent increase in consolidated turnover to US$32.8m for the 1H18 period. Profit after tax rose to US$200,000 in the period, up from a US$300,000 loss in the 1H17. The company also noted that production across all facilities in Kazakhstan advanced by 14 per cent to 4.8Mt in the first half of the year. While the construction industry remains strong in the western and southern regions of the country, the momentum of production is not expected to be ...

Apollo Asia invests in Steppe Cement

08 December 2017, Published under Cement News

Apollo Asia Fund Ltd has acquired 11.2m shares, representing 5.13 per cent of the issued share capital of Steppe Cement Ltd, which produces construction materials in Kazakhstan. Steppe said it was "pleased" to have the new significant shareholder, which is managed by Apollo Investment Management. Shares in Steppe Cement were down 0.3 per cent at GBP0.2094 on Friday.

Steppe Cement 2Q17 revenues rise 27%

11 October 2017, Published under Cement News

Steppe Cement announced that its 2Q17 revenue of KZT9312m (US$27.7m) was 27 per cent higher than the KZT7316m achieved in the corresponding quarter in 2016. Sales volumes reached 685,745t during the third quarter, a 12 per cent increase from the 3Q16 due to good clinker output and stock availability. For the nine months ended 30 September 2017, Steppe Cement Ltd recorded a revenue of KZT17,865m compared with KZT15,506m in the corresponding nine-month period in 2016, representing a ...

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...