Displaying items by tag: Steppe Cement
Steppe Cement records decline in sales
05 April 2024Kazakhstan: Steppe Cement sold 175,383t of cement for US$8.5m in the first quarter of 2024, down from 214,832t for US$11m in the first quarter of 2023. This represents a year-on-year decline of 18% in volume and 23% in value. Despite the decrease in sales, its production of clinker grew by 25% year-on-year.
Cement sales in Kazakhstan declined by 12% to 1.69Mt in the first quarter of 2024. Exports fell by 6%, mainly due to reduced exports to Uzbekistan. Imports remained level at 4% of domestic demand, with the majority coming from Russia. Steppe Cement anticipates a total market demand of approximately 11Mt in Kazakhstan for 2024, a 5% year-on-year decrease. Rising transport costs and an increased proportion of shipments to southern Kazakhstan resulted in low margins, according to the company.
Steppe Cement experiences declining sales in 2023
15 January 2024Kazakhstan: Steppe Cement reported US$82.5m in sales in 2023, down by 7.2% year-on-year from US$89m in 2022. The company attributed this to a decline in sales, to 1.6Mt in 2023. It said that it commanded a 14% local market share for the year.
Steppe Cement’s nine-month sales decline in 2023
12 October 2023Kazakhstan: Steppe Cement reported sales of US$65.2m during the first nine months of 2023. This corresponds to a year-on-year decline of 4.8% from US$68.5m in the corresponding period of 2022. Steppe Cement forecast a year-on-year decline in its earnings before interest, tax, depreciation and amortisation (EBITDA) in full-year 2023 from US$30.9m in 2022, due partly to the impact of inflation on costs, including energy costs.
CEO Javier del Ser Perez said "Despite a slightly smaller domestic cement market so far in 2023, we remain confident that the company will continue to deliver strong sales figures going forward."
Kazakhstan: Steppe Cement sold 749,000t of cement during the first half of 2023, down by 11% year-on-year from 837,000t in the first half of 2022. The value of sales fell by 13% to US$38.5m from US$44.4m.
Steppe Cement’s first quarter sales drop in 2023
13 April 2023Kazakhstan: Steppe Cement recorded sales of US$10.9m in the first quarter of 2023, down by 22% from US$14m during the first quarter of 2022. The producer sold 215,000t of cement during the quarter, down by 22% from 282,000t.
Steppe Cement said that Kazakh cement demand fell by 13% year-on-year in the first quarter of 2023. Its market share was 13%, compared to 14% in the corresponding quarter of 2022.
Steppe Cement grows full-year sales in 2022
13 January 2023Kazakhstan: Steppe Cement's full-year sales were US$86.5m during 2022, up by 11% year-on-year from 2021 levels. This came about despite a 1.2% year-on-year drop in its cement volumes. The producer also overcame high inflation, which reached 20% year-on-year in Kazakhstan in December 2022.
Steppe Cement said "We continue our capital expenditure programme to increase our production capacity of clinker and cement by mid-2023, as well as to reduce power and coal consumption."
Steppe Cement increases nine-month sales
07 October 2022Kazakhstan: Steppe Cement's sales were US$68.7m during the first nine months of 2022, up by 13% year-on-year from US$60.6m in the corresponding period in 2021. Its cement sales volumes were 1.36Mt, down by 1% year-on-year from 1.38Mt.
Kazakhstan's cement demand grew by 2% year-on-year to 9.4Mt in the first nine months of 2022. Steppe Cement expects the Kazakh cement market to grow by 2% year-on-year to 11.8Mt throughout 2022. Steppe Cement holds a 15% market share.
Kazakhstan: Steppe Cement has received notification from Consilium Investment Management that funds under its management have ‘collectively ceased as a significant shareholder’ in the producer.
Consilium Investment Management previously represented a 5% stake in Steppe Cement’s shareholding.
Steppe Cement increases sales in first half of 2022
13 July 2022Kazakhstan: Steppe Cement's first-half sales were US$41.4m in 2022, up by 18% year-on-year from first-half 2021 levels. Sales volumes were 837,000t, down by 0.4% year-on-year from 841,000t.
Kazakhstan: Steppe Cement recorded rising revenues in the first quarter of 2022 due to stronger cement volumes and higher prices during the period. The manufacturer posted sales revenue of US$14m in the three months to 31 March 2022, up by 29.6% year-on-year from US$10.8m in the first quarter of 2021.
Sales volumes rose by 6% to 281,968t from 266,007t, while average prices for delivered cement also climbed. Exports from Kazakhstan fell by 50% as new factories opened in Uzbekistan. Imports into Kazakhstan, predominantly from Russia, increased from 6.5% to 8% of the market.
Steppe Cement estimates that Kazakhstan's cement market demand will stay at 11 - 12Mt in 2022 but added that there was is a high degree of uncertainty due to the ‘geopolitical situation’ in the region.