Steppe Cement reports 9% increase in revenue in 3Q22

Kazakhstan's Steppe Cement Ltd has posted a nine per cent YoY increase in revenue in the 3Q22. Revenue came in at KZT13,071m (US$27.7m) compared to KZT12,045m in the same period last year. In the 9M22, revenue was KZT32,651m, up 13 per cent YoY from KZT28,812m in the 9M21. 

The company sold 546,327t of cement in the 3Q22, up two per cent YoY. In the opening nine months of this year, sales reached 1,362,407t, down one per cent from the 1,375,464t reported in the 9M21. 

The average price (ex-VAT) for delivered cement was KZT23,965/t (US$50.72/t) in the 9M22 compared with KZT20,947/t in the same period last year. The ex-factory price stood at KZT21,023/t in the 9M22, an increase of 17 per cent over the KZT17,930/t seen in the 9M21 period.

For the 9M22, the cement market in Kazakhstan totalled 9.4Mt, two per cent higher than in 2021. Imports decreased to six per cent from seven per cent of total consumption in the corresponding nine-month period in 2021. Exports from Kazakhstan were 0.85Mt. The current estimate of the country’s cement consumption for 2022 is 11.8Mt, up two per cent on 2021, with Steppe Cement having a market share of 15 per cent.