Steppe Cement Limited Market Update for Quarter ended 31 March 2021 (2324V)
April 13 2021 - 1:00AM
UK Regulatory
TIDMSTCM
RNS Number : 2324V
Steppe Cement Limited
13 April 2021
12 April 2021
Steppe Cement Ltd
Market update for the quarter ended 31 March 2021
In the first quarter of 2021, Steppe Cement Ltd ("Steppe Cement"
or the "Company") sold 265,556 tonnes of cement for 4,882 million
Tenge, compared to 235,896 tonnes of cement for 4,003 million Tenge
in the first quarter of 2020, representing an increase of 13% and
22% respectively as the Company.
The Kazakh cement market in Q1 2021 increased by 12% over the
corresponding quarter last year. Steppe Cement's market share
increased to 13.2% in the first quarter of 2021 from 12.6% in the
first quarter of 2020.
The average price for delivered cement in Q1 was 18,384 Tenge
per tonne (ex VAT) compared with 16,970 Tenge per tonne in the
corresponding quarter of 2020, an increase of 8%.
The ex-factory price for the current quarter stood at 14,568
Tenge per tonne, compared to 13,149 Tenge per tonne in 1Q 2020, an
increase of 11%. The transport tariffs and rental expenses were
maintained.
Exports from Kazakhstan decreased by 9% from 2020 but it is
difficult to have visibility over the output in the coming
months.
The Company estimates Kazakhstan's cement market demand will
increase due to infrastructure and housing projects initiated by
the Government. We continue to operate the factory at capacity, and
we do not anticipate any liquidity problems with sufficient clinker
in store and credit lines from the main banks in Kazakhstan.
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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