Steppe Cement LtdLSE: STCM

Steppe Cement: Trading Update for Q3 2026

· Issued by Steppe Cement Ltd via RNS

Summary by 6ix AI

Steppe Cement Ltd, which sells cement in Kazakhstan, reported unaudited revenue of KZT 21,824 million (approximately USD 47.2 million; KZT is the Kazakh tenge) for the third quarter ended September 30, 2026. That is a 19% increase on the third quarter of 2025 (KZT 18,284 million, approximately USD 34.1 million).

Key details

  • Revenue for the nine months ended September 30, 2026 was KZT 51,321 million (approximately USD 107.3 million), up 32% from KZT 39,002 million (approximately USD 75.0 million) a year earlier. Sales volume was 1.63 million tonnes, versus 1.55 million tonnes in 2025.
  • The company attributes the third-quarter revenue increase to the appreciation of the tenge and a 28% increase in tenge prices for products sold, despite a 6.5% drop in volume. It says the price increase was higher than the inflation rate.
  • The average delivered cement price, excluding value-added tax, was KZT 31,523 (approximately USD 65.9) per tonne in the first nine months, versus KZT 25,145 (approximately USD 48.4) a year earlier: up 25% in tenge and 36% in US dollars, due to the tenge rising approximately 9% against the US dollar.
  • The company says its expansion project continues on time and on budget, with funding in place.
  • Kazakhstan's domestic cement market was 11.2 million tonnes in the first nine months of 2026, in line with 2025. Imports were 8.1% of domestic consumption, and cement exports reached close to 1.0 million tonnes.

What’s still pending

  • All figures are unaudited.
  • Full-year 2026 domestic cement demand in Kazakhstan is currently projected at around 14.5 million tonnes, broadly unchanged from 2025.
  • The company expects to achieve a market share of approximately 14% for the year.

6ix AI wrote this summary from the release below and checked it against the release.

On 6ix: 6ix.com/news/trading-update-for-q3-2026

Watch Steppe Cement's latest callSteppe Cement (LSE:STCM) — Half Year Results · Replay · Jul 9Read the transcript of Steppe Cement (LSE:STCM) — Half Year Results

16 October 2026

Steppe Cement Ltd

("Steppe Cement" or the "Company")

Trading Update for the Third Quarter ended 30 September 2026

Steppe Cement Ltd (AIM: STCM), provides the following trading update for the third quarter ended 30 September 2026 ("Q3 2026" or the "Period"). All numbers referenced below are unaudited.

Operational and Financial Highlights

·    Steppe Cement generated revenue of KZT 21,824 million (approximately USD 47.2 million) in Q3 2026, which was 19% higher than the revenue achieved in Q3 2025 of KZT 18,284 million (approximately USD 34.1 million).

·    For the nine months ended 30 September 2026, Steppe Cement recorded revenue of KZT 51,321 million (approximately USD 107.3 million) compared with KZT 39,002 million (approximately USD 75.0 million) in the corresponding nine-month period in 2025 (a 32% increase).

·    The increased revenue in the 3 months to 30 September 2026 was attributable to the appreciation of the KZT and the 28% increase in KZT in the price of products sold in Q3 2026 despite a drop of 6.5% in volume. The price increase was higher than the inflation rate.

·    For the first nine months of 2026, the volume of sales totalled 1.63 million tonnes versus 1.55 million tonnes in 2025.

·    The average price (ex-VAT) for delivered cement was KZT 31,523 (approximately USD 65.9) per tonne in the first nine months, compared with KZT 25,145 (approximately USD 48.4) per tonne in the corresponding period in 2025. This represents an increase of 25% in KZT and an increase of 36% in USD due to the appreciation of the Kazakh tenge against the US dollar of approximately 9% (from 520 to 478 KZT/USD) during the comparative periods.

·    The expansion project continues on time and budget with funding in place.

Market Update

Kazakhstan's domestic cement market amounted to 11.2 million tonnes in the first nine months of 2026 in line with 2025. Imports represented 8.1% of domestic consumption, while cement exports reached close to 1.0 million tonnes over the same period.

For the full year, domestic market demand is currently projected at around 14.5 million tonnes, broadly unchanged from 2025. Steppe Cement is expected to achieve a market share of approximately 14% for the year.

**Ends**

For further information, please contact:

Steppe Cement Ltd                                                                                                           www.steppecement.com

Javier del Ser Pérez, Executive Chairman                                                                         Tel: +(603) 2166 0361

Strand Hanson Limited (Nominated & Financial Adviser and Broker)                         www.strandhanson.co.uk

James Spinney / Ritchie Balmer / Imogen Ellis                                                                   Tel: +44 20 7409 3494

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

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