Kazakhstan: Steppe Cement FY16 results

Steppe Cement Ltd recorded revenue for the year ended 31 December 2016 of KZT17.94bn (US$54.01m), representing an eight per cent drop YoY from KZT19.53bn recorded last year.

A sales volume of 1,570,140t of cement was achieved in 2016, a four per cent decline from 1,643,136t reported in the previous year.

Average price (ex-VAT) for delivered cement was KZT11,426/t (US$34.4/t) in 2016, a four per cent decrease on 2015. This drop in price was mostly due to competition among local companies and the start-up of two dry kilns in the country during the course of the year.

In 2016 cement consumption in Kazakhstan is estimated to have decreased to 8.9Mt, eight per cent lower than that consumed in 2015.

Steppe Cement's market share remained broadly stable at 17 per cent in 2016. Kazakhstan imported 0.5Mt of cement in 2016 versus 1.2Mt in 2015 and exported 0.4Mt compared to 0.1Mt in 2015.