Steppe Cement revenue rises 1pc for 2020

11th Jan 2021 15:34

(Sharecast News) - Kazakhstan-focussed Steppe Cement released its preliminary update for the year ended 31 December on Monday, reporting revenue of KZT 30.96bn (£54.7m), up 1% on 2019.
The AIM-traded firm said 2020 cement sales volumes totalled 1,645,744 tonnes, lower than the 1,715,761 tonnes achieved in the previous year.

It said the average ex-VAT price for delivered cement was KZT 18,811 per tonne in 2020, ahead 6% over the prior year.

The average ex-factory price in 2020 stood at KZT 15,760 per tonne, compared to 14,885 in 2019, representing $38 per tonne based on 2020's average USD-KZT exchange rate of 413, compared to 383 in 2019.

"In 2020, the cement market consumption in Kazakhstan increased by 6% to 9.4 million tonnes from 8.9 million tonnes in 2019," the board said in its statement.

"Steppe Cement's local market share was 15.4% while exports increased by 30% from 155,000 tonnes in 2019 to 202,000 tonnes in 2020.

"Overall, Kazakhstan imported 0.6 million tonnes of cement, versus 0.7 million tonnes in 2019, and exported two million tonnes, versus 1.6 million tonnes in 2019."

Steppe Cement said its full results and audited accounts denominated in dollars would be published in April 2021.

At 1516 GMT, shares in Steppe Cement were down 1% at 31.68p.