Steppe Cement Ltd
9 October 2014
Market Update for the Third Quarter Ended 30 September 2014
Third quarter 2014 revenue of KZT 7,652 million was higher than revenue of KZT 7,235 million achieved in the corresponding quarter in 2013. For the 9 months ended 30 September 2014, Steppe Cement Ltd ("Steppe Cement") recorded total revenue of KZT 16,778 million compared to KZT 15,399 million in the corresponding 9 month period in 2013, representing a 9% improvement.
A sales volume of 582,429 tonnes was achieved during the third quarter 2014, a 16% increase from the third quarter of 2013. For the first 9 months of 2014, sales volume increased by 21% to 1,291,888 tonnes from 1,065,852 tonnes in the corresponding 9 month period in 2013.
Average price (ex-VAT) for delivered cement was KZT 12,987 per tonne in the first 9 months of 2014 compared to KZT 14,448 per tonne in the corresponding period in 2013. Ex-factory price for the first three quarters of 2014 stood at KZT 10,952 per tonne representing USD 61 per tonne based on the current exchange rate.
The cement market in Kazakhstan increased by 5% during the first 9 months of 2014 compared to the corresponding period in 2013. Imports decreased from 20% to 14% of the total consumption. Steppe Cement's market share stood at 19% in September 2014.
Steppe Cement's AIM nominated adviser is RFC Ambrian Limited.
Contact Stephen Allen or Trinity McIntyre at +61 8 94802500.
