Cement News tagged under: Kazakhstan
Steppe Cement first-half loss narrows, Kazakhstan11 September 2015, Published under Cement NewsSteppe Cement Ltd Friday said its first-half loss before tax narrowed to US$2.29m from US$6.40m in the previous year. Loss after tax totaled US$2.2m, narrower than the US$4.1m loss in the prior year. Consolidated turnover fell to US$44.7m from US$51.8m. Sales increased to 717,654t from 709,459t. The average ex-factory price decreased from 10 per cent to KZT10,797/t, due to competition from Russian companies helped by the Rouble exchange rate and the reaction of the main local factories... |
HeidelbergCement 'most exposed' as Kazakh tenge falls20 August 2015, Published under Cement NewsAfter Kazakhstan scrapped the trading band for its currency and moved to a free-floating exchange rate, the Kazakh Tenge dropped 23 per cent today. Among the European Building Materials companies JP Morgan notes that HeidelbergCement is the most exposed. The German-based cement major generated around approximately one per cent of its EBITDA in Kazakhstan and JP Morgan expect the translational FX impact is likely to be c.37bps hit on EBITDA and around a one per cent hit on earnings per sh... |
Steppe Cement names new chairman06 August 2015, Published under Cement NewsSteppe Cement Ltd on Monday said it has appointed Paul Rodzianko, independent non-executive director, as its independent non-executive chairman. Rodzianko is currently the chairman of Steppe Cement's audit committee and a member of its nomination and remuneration committees. The new chairman is taking over from Malcolm Brown, who retired on 28 May due to health reasons. |
Kazakhstan: Steppe's 1H volumes edge ahead, revenue falls14 July 2015, Published under Cement NewsIn the first half of 2015, Steppe Cement Ltd sold 717,654t of cement for KZT8277m (US$44.3m), which compares with 709,459t of cement for KZT9125m in the first half of 2014. This represents an increase of one per cent and a decrease of nine per cent, respectively over the same period in 2014. The company said in a statement that the average price for the current period for delivered cement was KZT11,533/t excluding VAT (EUR56), compared with KZT12,862/t (EUR62) in the corresponding period o... |
Steppe Cement announces appointment of non-executive director29 June 2015, Published under Cement NewsSteppe Cement Ltd announced the appointment of Xavier Marcel Hervé Blutel - Guilloud de Courbeville to its Board of Directors, with immediate effect, as a non-executive director. Xavier Blutel (60) is currently the senior adviser, Wagram Corporate Finance, president and founding partner of SAS Baudrimont and a Conseiller du Commerce Extérieur de la France. Mr Blutel brings significant experience to Steppe Cement having spent 33 years as an international executive in capital intensive indus... |
Steppe Cement announces retirement of non-executive chairman26 May 2015, Published under Cement NewsSteppe Cement Ltd announced that Malcolm Brown will retire on 28 May 2015 as the non-executive chairman “due to health reasons” and he does not intend to stand for re-election in the forthcoming AGM. Mr Brown has served on the Board for more than six years since December 2008 and as a member of the Audit and Remuneration Committees. He will remain as a shareholder of Steppe Cement. Kazahstan-based Steppe said it is presently searching for an appropriate candidate to replace Malcolm Brown a... |
Steppe Cement swings to full year loss, Kazakhstan15 May 2015, Published under Cement NewsSteppe Cement has swung to a FY pretax loss of US$8.1m in 2014 from a US$13m profit in the previous year. Revenue totalled US$116.63m in 2014 versus US$127.98m in the year before. The net loss amounted to US$7.9m from a profit of US$10.5m in 2013. The 2014 results were affected by the depreciation of the Kazakshtan Tenge in February, the subsequent devaluation of the Rouble and the lower oil price. During the year the company ceased operating the clinker production in the old wet lines and... |
Kazakhstan: Steppe Cement 1Q volumes down15 April 2015, Published under Cement NewsIn the first quarter of 2015, Kazakhstan-based producer Steppe Cement reported a three per cent decline in sales volumes to 192,884t from 198,607t a year earlier. The company said in a statement that the Kazakhstan cement market rose by eight per cent over the corresponding quarter of last year. However, Steppe Cement’s market share fell from 17 per cent in 1Q14 to 15 per cent in 1Q15. Cement imports increased by 25,000t despite the new factory operating in west Kazakhstan while exports ... |
Italcementi obtains EBRD loan for plant revamp04 December 2014, Published under Cement NewsThe Italcementi Group has signed an agreement with the European Bank for Reconstruction and Development (EBRD) granting it a loan for approximately EUR20m to fund the modernisation of the Shymkent cement plant in southern Kazakhstan. In addition to the loan, the EBRD will make an investment of approximately EUR4m in Shymkentcement, for an equity stake of around 21 per cent. The project, arranged under the EBRD policy to support energy efficiency initiatives in Kazakhstan, will replace the... |
Steppe Cement reports 5.7% rise in 3Q revenue09 October 2014, Published under Cement NewsKazakhstan cement producer Steppe Cement Ltd Thursday reported third-quarter 2014 revenue of KZT7.65bn (US$42m), higher than the KZT7.24bn reported in the same period the previous year. The company achieved sales of 582,429t during the three month period, a 16 per cent increase from the third quarter of 2013, the company added. |