Steppe Cement records 14% rise in profit

Kazakhstan’s Steppe Cement has posted a net profit of US$11.1m for 2020, up 14.4 per cent YoY from US$9.7m in the previous year. EBITDA also saw a modest increase to US$24.2m from US$23.9m in 2019.

However, the company’s cement sales volume decreased 4.1 per cent YoY to 1.65Mt from 1.72Mt. Local sales declined by six per cent, due to milling limitations during two months of the high season, while exports advanced 20 per cent.

According to a statement, Steppe Cement operated both lines at 85 per cent of their current combined capacity (1.1Mta for Line 5 and 0.85Mta for Line 6).