Steppe Cement Limited Preliminary Update for Year Ended 31 December 2017 (8140B)

TIDMSTCM

RNS Number : 8140B

Steppe Cement Limited

15 January 2018

15 January 2018

Steppe Cement Ltd

Preliminary Update for the Year ended 31 December 2017

Steppe Cement Ltd ("Steppe Cement" or the "Company") recorded revenue for the year ended 31 December 2017 of 21,443 million Tenge ("KZT"), which was 20% higher than the KZT 17,941 million recorded for the corresponding year ended 31 December 2016. A sales volume of 1,630,230 tonnes of cement was achieved in 2017, a 4% increase over the 1,570,140 tonnes for the previous year. Average price (ex - VAT) for delivered cement was KZT 13,153 per tonne in 2017, a 15% increase compared with KZT 11,426 per tonne in 2016. The average ex-factory price in 2017 stood at KZT 10,895 per tonne (14% above 2016) representing US$ 33 per tonne based on 2017's average exchange rate of 326 vs 340 in 2016.

In 2017, the cement market consumption in Kazakhstan remained at 9 million tonnes.

Steppe Cement's local market share remained stable at 17% while exports doubled from 73,000 tonnes in 2016 to 146,000 tonnes. Overall, Kazakhstan imported 0.7 million tonnes of cement (vs 0.5 million in 2016), and exported 0.9 million tonnes (vs 0.4 million in 2016).

The full results and audited accounts denominated in US$ are expected to be published in April 2018.

Steppe Cement's AIM nominated adviser and broker is RFC Ambrian Limited.

Nominated Adviser contact: Stephen Allen or Andrew Thomson on [phone].

Broker contact: Charlie Cryer at [phone].

This information is provided by RNS

The company news service from the London Stock Exchange

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January 15, 2018 02:00 ET (07:00 GMT)