Steppe Cement Limited Market update for the quarter ended 31 March 2019 (6947V)
10 Aprile 2019 - 8:00AM
UK Regulatory
TIDMSTCM
RNS Number : 6947V
Steppe Cement Limited
10 April 2019
10 April 2019
Steppe Cement Ltd
Market update for the quarter ended 31 March 2019
In the first quarter of 2019, Steppe Cement Ltd ("Steppe Cement"
or the "Company") sold 266,393 tonnes of cement for 4,455 million
Tenge, compared to 197,179 tonnes of cement for 2,313 million Tenge
in the first quarter of 2018, representing an increase of 35% and
93% respectively.
The cement market in Kazakhstan during 1Q 2019 increased by 3.6%
over the corresponding quarter last year.
Steppe Cement increased its market share to 17.4% in the first
quarter of 2019 from 14% in the first quarter of 2018.
The average price for the current quarter for delivered cement
was 16,723 Tenge per tonne (ex VAT) compared with 11,732 Tenge per
tonne in the corresponding quarter of 2018, an increase of 43%.
Prices have been maintained this winter at the same level as last
year.
The ex-factory price for the current quarter stood at 13,614
Tenge per tonne, compared to 8,304 Tenge per tonne in 1Q 2018, an
increase of 64%. The higher transport tariffs and rental expenses
have been compensated with savings due to better utilization of the
wagon fleet (less idle wagons, more sublets) and increased sales in
markets close to the factory.
The Company estimates Kazakhstan's cement market demand will
increase to 9.0 million tonnes in 2019 from 8.6 million tonnes in
2018. Exports from Kazakhstan have reduced from 2018 but the
outlook continues to be optimistic in Uzbekistan.
Steppe Cement's AIM nominated adviser and broker is RFC Ambrian
Limited.
Nominated Adviser: Contact Stephen Allen or Andrew Thomson at
+61 8 9480 2500.
Broker: Contact Charlie Cryer at +44 20 3440 6800.
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END
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