7 October 2022
Steppe Cement Ltd
Market Update for the Third Quarter ended 30 September 2022
Third quarter 2022 revenue of KZT 13,071 million was 9% higher than revenue of KZT 12,045 million
achieved in the corresponding quarter in 2021. For the 9 months ended 30 September 2022, Steppe
Cement Ltd ("Steppe Cement") recorded revenue of KZT 32,651 million compared with KZT 28,812
million in the corresponding 9-month period in 2022, representing a 13% increase.
A sales volume of 546,357 tonnes was achieved during the third quarter, a 2% increase from the third
quarter of 2021. For the first 9 months of 2022, the sales volume decreased by 1% to 1,362,407 tonnes
from 1,375,464 tonnes in the corresponding 9-month period in 2021.
The average price (ex-VAT) for delivered cement was KZT 23,965 per tonne in the first 9 months
compared with KZT 20,947 per tonne last year. For the first 9 months of 2022, the ex-factory price
stood at KZT21,023 per tonne, an increase of 17% over KZT17,930 in 2021.
For the first 9 months of 2022, the cement market in Kazakhstan was 9.4 million tonnes, 2% higher
than in 2021. Imports decreased to 6% from 7% of total consumption in the corresponding 9-month
period in 2021. Exports from Kazakhstan were 0.85 million tonnes. Current estimate of the cement
market for 2022 is 11.8 million tonnes or 2% above 2021, with Steppe Cement's market share at 15%.
Steppe Cement's AIM nominated adviser and broker is RFC Ambrian Limited.
Nominated Adviser contact: Stephen Allen or Andrew Thomson on +61 8 9480 2500.
Broker contact: Charlie Cryer at +44 20 3440 680
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