Steppe Cement Ltd - Malaysia-based Kazakhstan-focused cement producer - Says revenue in 2023 was KZT37.29 billion, around $82 million, down 7.2% from KZT40.20 billion the year before. This was due to lower sales volumes, which fell year-on-year to around 1.6 million tonnes in 2023. Average price for delivered cement was KZT22,927 per tonne, down 4.3% from KZT23,963 per tonne achieved in 2022. Adds 2023 cement market consumption in Kazakhstan was 11.5 million tonnes compared to 11.6 million the year prior, with Steppe’s local market share being 14.2% compared to 14.5% year-on-year.

Current stock price: 21.99 pence, untraded.

12-month change: down 49%

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