Uzbekistan: Qizilqum Cement’s nine-month sales fell by 11% year-on-year in 2021. A 4.4% decline in cost of goods sold failed to create earnings before interest (EBIT) growth during the period. The company recorded a 36% fall in EBIT.
Bluestone Investment Bank recorded 4.5% year-on-year growth in Uzbekistan’s volume of construction during the first nine months of 2021. In the first eight months of the year, its cement companies produced 8Mt of cement, up by 18% year-on-year. Cement imports rose slightly to 0.56Mt.