Steppe Cement Q3 revenues grow as sales volumes rise

(Sharecast News) - Cement manufacturer Steppe Cement said on Friday that third-quarter revenues had grown, principally due to increased sales volumes throughout the period.

Steppe Cement said revenues had risen 21% year-on-year to KZT 18.28bn (�25.34m) as sales volumes grew 13% to 701,643 tonnes, and product prices rose 7% in Q3 in KZT terms.

For the nine months ended 30 September, Steppe Cement said revenues were up 28% at KZT 39bn (�55.76m), while total sales volumes came to 1.55m tonnes, versus 1.34m in 2024.

The AIM-listed firm stated the average price for delivered cement was KZT 25,145 (�35.98) per tonne in the first nine months, compared with KZT 22,755 (�36.87) per tonne in the corresponding period in 2024, represents an increase of 10% in KZT but a decrease of 3% in USD terms due to the devaluation of the Kazakh tenge against the USD of approximately 13% during the period.

Steppe Cement added that current estimates for total Kazakh cement market demand for the full year 2025 was expected to reach approximately 13m tonnes, with the group's market share expected to stay at 14-15%.

Chief executive Javier del Ser Perez said: "During the first nine months of 2025, the company has achieved record production volumes of clinker and cement, exceeding the results of any comparable period in previous years. The plant continues to increase production and remains focused on driving further growth whilst limiting the capex required."

Reporting by Iain Gilbert at Sharecast.com