Steppe Cement Limited Preliminary Results (4257Z)
10 Gennaio 2020 - 9:19AM
UK Regulatory
TIDMSTCM
RNS Number : 4257Z
Steppe Cement Limited
10 January 2020
10 January 2020
Steppe Cement Ltd
Preliminary Update for the Year ended 31 December 2019
Steppe Cement Ltd ("Steppe Cement") recorded revenue for the
year ended 31 December 2019 of 30,534 million Tenge ("KZT"), which
was 8% higher than the KZT 28,342 million recorded for the
corresponding year ended 31 December 2018. In 2019 cement sales
volume was 1,715,761 tonnes, marginally lower than the 1,720,629
tonnes achieved for the previous year. The average price (ex-VAT)
for delivered cement was KZT 17,796 per tonne in 2019, an 8%
increase compared with KZT 16,480 per tonne in 2018. The average
ex-factory price in 2019 stood at KZT 14,885 per tonne compared to
13,354 in 2018 representing USD 39 per tonne based on 2019's
average exchange rate of USD/KZT 383 vs 345 in 2018.
In 2019, the cement market consumption in Kazakhstan increased
by 2% to 8.9 million tonnes from 8.7 million tonnes in 2018.
Steppe Cement's local market share remained at 17.5% while
exports decreased by 35% from 240,000 tonnes in 2018 to 155,000
tonnes in 2019. Overall, Kazakhstan imported 0.7 million tonnes of
cement, similar to the previous year, and exported 1.6 million
tonnes (vs 2 million tonnes in 2018).
The full results and audited accounts denominated in USD are
expected to be published in April 2020.
Steppe Cement's AIM nominated adviser and broker is RFC Ambrian
Limited.
Nominated Adviser contact: Stephen Allen or Andrew Thomson on
+61 8 9480 2500.
Broker contact: Charlie Cryer at +44 20 3440 6800.
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END
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