Steppe Cement Share Discussion Threads

[farrugia] 16/3/2024 07:50

what i don't understand is how this company is listed in London and not in Kazakhstan. Isn't that a big of a red herring - why aren't they listed in the country they're operating in?

[wilo101] 16/3/2024 02:43

TCO, KPO, CVX, XOM, NCOC, Cameco, Areva, ERG all major players so no rational reason for delay here by the hapless Blutel

[wilo101] 16/3/2024 02:31

All major investors structure so as to fund capex by inter-company loans and so there are no tax issue in repaying principal on loans ,of course, and interest is treaty-relieved.

[riddlerone] 15/3/2024 14:01

"Industrial output in Kazakhstan rose by 5.7% year-on-year in February 2024, accelerating from a 3.4% growth in January"

[riddlerone] 14/3/2024 12:29

The economic activity in Kazakhstan grew by 5.2% year-on-year in February 2024, quickening from a 4.3% rise in the prior month.

[aleman] 07/3/2024 22:25

return_of_the_apeman 7 Mar '24 - 17:53 - 6017 of 6019

Margins need to improve significantly, we do not know what Q4 looks like yet but the first 9 months were dire

No - not quite. Q3 was unlikely to be dire. H1 was dire yet still broke even. Volumes and prices were better in Q3, in line with better national figures, and should be respectably profitable. October and November were records nationally for volume and December was very strong so I anticipate strong volumes and further margin improvement. Hopefully, it will be a strong Q4 to make a fairly decent H2 and a moderate contribution to cashflow that should be available to distribute to shareholders ... eventually.

[1knocker] 07/3/2024 19:34

I am increasingly wondering what is going on here. I suspect that the big shareholder is calling the shots. I do woder whether it will be taken private for a song. I feel not the slightest inclination to increase my exposure here.

[return_of_the_apeman] 07/3/2024 17:53

Don't hold your breath for dividends of 5p per annum, H1 profit was 100k

Margins need to improve significantly, we do not know what Q4 looks like yet but the first 9 months were dire

"Volumes are recovering in the second half of the current year and prices have been slightly increased, while the cost of production is improving as well.

General inflation in Kazakhstan was 17% during the period, but the situation has improved in the second half of 2023.

The Group posted a small net profit for the period of USD0.1 million compared with USD10.2 million profit after tax in the same period in 2022."

"For the nine months ended 30 September 2023, Steppe Cement recorded revenue of KZT 31,093 million compared with KZT 32,651 million in the corresponding nine-month period in 2022 (a 5% decrease).

-- The increased revenue in the 3 months to 30 September 2023 was largely attributable to the sales volume of 593,352 tonnes, a 9% increase from the third quarter in 2022 due to improved production levels in the factory as well as an average 5% price reduction applied to products sold.

-- For the first 9 months of 2023, the sales volume decreased by 1% to 1,342,386 tonnes from 1,362,407 tonnes in the corresponding period in 2022.

-- The average price (ex-VAT) for delivered cement was KZT 23,163 per tonne in the first 9 months compared with KZT 23,965 per tonne in the corresponding period in 2022. For the first 9 months of 2023, the ex-factory price stood at KZT 19,810 per tonne, a decrease of 6% from KZT 21,023, the corresponding price in 2022.

-- The Company expects that EBITDA for the year ended 31 December 2023 will be lower than in 2022 principally due to a lower pricing environment and the impact of inflation on energy and other input prices.

[tag57] 07/3/2024 16:56

The 5p dividend paid in Nov 2022 was for 2021 financial year so we should be getting 2 years of dividend this year, at some time, maybe, fingers crossed, eventually, subject to tax jurisdictions etc.

[spawny100] 07/3/2024 16:54

Brave man Mattjos. Trouble is most people want a little more certainty that a "possibility" when investing. I know I do. I'm watching this one from the sidelines awaiting news of dividend etc.

[mattjos] 07/3/2024 16:12

Have had a few more recently ... chart shnows some signs of stabilisation around this level now.
A real possibilty that we'll see two x dividends paid over the next 12 months

[wilo101] 05/3/2024 10:36

How can it take since 2022 to fix the structure,clearly a case of the blind leading the blind and in the land of the blind the one eyed man is King. Pathetic by all concerned, Deloitte's are a bad choice.

[aleman] 05/3/2024 10:13

The Kazakhstan stockmarket continues to fly. It's now up 17.5% since the start of the year (and 51.5% since the start of 2023). The cement market was already looking quite strong again in H2/2023. If the stockmarket reflects underlying economic strength and improving liquidity in the economy as interest rates have fallen, then I think we can hope for record national cement output in 2024, coupled with a strong pricing environment. Fingers crossed.

[danmart2] 28/2/2024 08:17

I can see two scenarios they will either combine it with the 2023 divi or they may even pay 2 separate divis in 2023.

Next update is key

[tigerbythetail] 27/2/2024 13:29

Perhaps the company should think about a secondary listing for its stock in Kazakhstan?
One thing is for sure, until the company sort out the payment of the 2022 dividend(!) the share price here is going nowhere.

[danmart2] 27/2/2024 09:46

Kazakh national climate continues to improve

ASTANA – The National Bank announced plans to reduce the base rate by 50 basis points to 14.75% per annum, with a corridor of +/- 1 percentage point, the bank’s press service reported on Feb. 23.

The annual inflation slowed to 9.5% in January, and the bank forecasted inflation to maintain in the range of 7.5-9.5% this year, 5.5-7.5% in 2025, and 5-6% in 2026.

“The slowdown in overall price growth was caused by the ongoing monetary policy, a decrease in global inflationary pressure and production costs, the gradual restoration of supply chains, government measures, and the influence of the high base effect of last year,” reads the statement.

The baseline scenario assumes stabilization of Brent oil prices until the end of 2025 at $80 per barrel amid an extension of the Organization of the Petroleum Exporting Countries (OPEC+) production cuts, moderate production growth from the United States.

Based on current parameters, the forecast for Kazakhstan’s economic growth in 2024 has been increased to 3.5-4.5% due to domestic demand amid an improving situation with business activity.

A 5.5-6.5% economic growth in 2025 will be ensured by increased oil output as a result of expanded production at Tengizchevroil.

In 2026, with a scenario reduction in oil prices and current forecast assumptions, the GDP growth rate will stand at 3.5-4.5%.

[aleman] 27/2/2024 08:03

January construction output was +12.8% - slightly higher than the average of recent years but down from 14.7% in December.

The KSE100 share index is at a new high and flying. Up 12% in February. Up 57% over 12 months.

[danmart2] 20/2/2024 00:49

2k sold vs 35k purchased

[plasybryn] 19/2/2024 08:55

Thank you for that. Much appreciated.

[aleman] 19/2/2024 08:46

Kazakhstan's cement production in January was not a new record but it was up about 15% on last year's January weather-disrupted production.

[danmart2] 15/2/2024 09:13

Good to read and thank you for the update

[southcbubble] 15/2/2024 09:12

Had a reply from Javier del Ser. This is what he said: ''We are organising an alternative and we hope to have news soon''

[danmart2] 13/2/2024 15:17

No reply yet, may send another more simple email.

[zangdook] 12/2/2024 14:59

They'd have to get Apollo Asia and Firebird to sign up to that. I have no idea if they would agree.

[1knocker] 12/2/2024 14:40

The real concern is that we have a dominant shareholder who is presumably calling the tune, and if taking the company private would suit his book, that is what will happen. The longer the 'tax impasse' (if that is what it truly is, or is the whole story) continues and the share price remains depressed or falls further , the greater the risk that we shall be taken out, at a very low price.

That is too big a risk for me to contemplate a further purchase. I have been there before, though then it was with a couple of (pre-Ukraine) Russian companies. The Chinese have been known to do it too too (though happily I have not been caught by them).