Steppe Cement sees 20% revenue rise in 2017

Steppe Cement has announced that its full-year revenue for 2017 was 20 per cent higher than the previous year, reports Alliance News. The revenue for the period increased to KZT21.4bn (US$65m) from KZT17.9bn seen in 2016.

The rise in revenue has been attributed to both an increase in cement prices and the volume of cement sold. The Kazakhstan-based manufacturer saw a 3.8 per cent YoY increase in the sales volume of cement, to 1.63Mt from 1.57Mt. Prices were up 15 per cent for 2017, with an average price of KZT13,153/t compared to KZT11,426/t of the year-ago period. Steppe Cement retained a 17 per cent domestic market share throughout the year, whilst exports doubled to 146,000t from 73,000t in 2016.

Cement consumption in Kazakhstan remained steady at 9Mt for 2017 (2016: 8.9Mt). The country imported 0.7Mt of cement last year (2016: 0.5Mt) and exported 0.9Mt (2016: 0.4Mt).