Displaying items by tag: Steppe Cement

Kazakhstan: Steppe Cement’s revenue has fallen by 8% year-on-year to US$54m in 2016 from US$59m in the same period in 2015. Sales volumes of cement fell by 4% to 1.57Mt from 1.64Mt. The drop in revenue and sales volumes was blamed on increased competition and the start-up of two cement kilns in the country.

The cement producer reported that the country’s cement consumption fell by 8% to 8.9Mt in 2016. It imported 0.5Mt and exported 0.4Mt, with imports falling and exports rising respectively. The cement producer said that its market share was 17% in 2016. It will publish its full financial results for the year in April 2017.

Kazakhstan: Steppe Cement has reduced its consolidated loss after tax to US$1.5m in the first half of 2016 from US$2.2m in the same period in 2015. Its turnover fell by 47% year-on-year to US$23.7m from US$44.7m due to a devaluation of the Kazakh Tenge. Despite this, it increased its sales of cement by 6% to 0.76Mt from 0.72Mt.

The cement producer reported that the Kazakh cement market decreased by 10% during the first half of 2016. It expects a market of about 9Mt in 2016, down from 9.6Mt in 2015. Steppe Cement has increased its market share to 18% year-on-year in the reporting period from 16% and it expects to reach a share of 19% for the full year. Imports of cement into Kazakhstan have decreased by 63% in 2016 as the Russian Rouble exchange rate has returned to its historical level against the KZT. Imports represent 5% of the market down from 12% in 2015.

Kazakhstan: Steppe Cement’s sales volumes rose by 6% year-on-year to 762,000t in the first half of 2016 from 718,000 in the same period of 2015. However, its sales revenue fell slightly to US$24m from US$25m. The cement producer also reported that its local market share increased to 18% in the first half of 2016 from 16% and it exported 4% of its sales compared to 0% in 2015.

The cement market in Kazakhstan decreased by 10% during the first half of 2016 compared to the same period of 2015. However overall cement shipments from local companies remained stable compared to 2015 as imports decreased by 63% (representing 5% of the local market) and exports doubled due to the favourable exchange rate against the currencies of surrounding countries. Steppe Cement estimates that national consumption will be around 9Mt in 2016.

Kazakhstan: Steppe Cement revenue has fallen by 20% year-on-year to US$93.6m in 2015 from US$117m in 2014. However, its cement sales volumes rose by 2% to 1.64Mt from 1.61Mt. The company reported that its 2015 results were adversely affected by a devaluation of the Kazakhstan Tenge and the US Dollar. It also noted a net loss of US$3.4m in 2015 due to a foreign exchange loss of US$16.4m.

The cement producer expects that market demand in the country for cement will be stable or decrease slightly in 2016. This will depend on government investment plans and the general economy. It also hopes to regain its market share of 19% after falling to 17% in 2015.

Kazakhstan: Steppe Cement has reported a fall in cement sales for the first quarter of 2016. Its sales revenue fell by 12% year-on-year to US$5.98m from US$6.79m in the same period in 2015. Cement sales volumes fell slightly to 190,000t from 193,000t. The company intends to regain market share and increase sales in the south of the country in the rest of the year.

Overall the cement producer said that the cement market in Kazakhstan decreased by 16% year-on-year in 2016. However, the market reduction slowed in March 2016. The company estimates that Kazakhstan’s cement market will reduce to 8.5Mt in 2016 from 9.6Mt/in 2015.

Kazakhstan: Steppe Cement has disclosed a rise in its third quarter 2015 revenue and sales volume. Its revenue rose to US$28.2m compared with US$27.8m in the same period of 2014. Some 630,329t of cement was sold during the third quarter of 2015, up by 8% year-on-year. For the nine months that ended on 30 September 2015, Steppe Cement's revenue fell to US$58.3m from US$60.9m in the same period of 2014.

Kazakhstan: According to Dow Jones, Steppe Cement said that it sold more cement, but at a lower price, in the first half of 2015 due to the unfavourable exchange rate between the Kazakhstan Tenge and the Russian Ruble. The company sold 717,654t of cement for US$44.4m in the first half of 2015, compared to 709,459t of cement for US$48.9m in the same period of 2014.

Kazakhstan: Steppe Cement's Malcolm Brown will retire as the non-executive chairman on 28 May 2015 due to health reasons. He does not intend to stand for re-election in the forthcoming AGM. He has served on the board for more than six years, since December 2008 and is a member of the audit and remuneration committees. Brown remains as a shareholder of Steppe Cement. The company is currently searching for an appropriate candidate to replace Brown.

Kazakhstan: Steppe Cement Ltd has swung to a large pre-tax loss for 2014. The company said that its results were affected by the depreciation of the country's currency, the devaluation of the Russian Ruble and lower oil prices.

For the year ended on 31 December 2014, Steppe Cement reported a pre-tax loss of US$8.1m, compared with a pre-tax profit of US$13m in 2013, on revenues of US$117m and US$128m, respectively. Steppe Cement produced 1.6Mt of cement in 2014, up by 18% from the year ago period. It expects the overall Kazakh market demand for cement in 2015 to increase by 3% to 8.8Mt.

Kazakhstan: Steppe Cement produced 1.61Mt of cement in 2014, up by 18% from 1.37Mt in 2013. Its revenue was US$114m in 2014, up by 7% from US$106m in 2013.

In 2014, cement consumption in Kazakhstan was estimated to have increased to 8.5Mt, 4% higher than in 2013. Steppe Cement's market share increased from 17% in 2013 to 19% in 2014, broadly in line with its expectations. Kazakhstan imported 1.1Mt, a 26% fall on 2013, while exports amounted to 500,000t, 150% higher than in 2013.

Devaluation of the Kazakh Tenge combined with reduced cement prices helped local cement producers to gain market share. Steppe Cement's margins fell due to lower cement prices, the devalued Tenge and inflation. However, some of the cost increases should be compensated by the reduced operating costs of the plant's Line 5 following upgrades to increase its capacity.