Higher Sales Drive Solibra Net Profit Up 42% in 2024

AFRICAN STOCKS AND FINANCEMay 22, 2025 at 10:08 AM UTC

TLDR

Société de Limonaderies et de Boissons Rafraichissantes d'Afrique (Solibra), Ivory Coast's leading beverage company (BRVM: SLBC), reported a 42% increase in 2024 net profit
Net profit climbed to 21.5 billion CFA francs ($36.5 million) from 15.1 billion CFA francs ($25.6 million) in 2023
The company's gross operating surplus rose to 57.5 billion CFA francs ($97.6 million) from 41.3 billion CFA francs ($70.1 million)

Société de Limonaderies et de Boissons Rafraichissantes d'Afrique (Solibra), Ivory Coast's leading beverage company (BRVM: SLBC), reported a 42% increase in 2024 net profit as sales rose and the company improved operational efficiency. Net profit climbed to 21.5 billion CFA francs ($36.5 million) from 15.1 billion CFA francs ($25.6 million) in 2023. Revenue from beverages and other products rose to 309.7 billion CFA francs ($525.8 million) from 311.4 billion CFA francs ($528.7 million).

Raw material purchases fell to 74.7 billion CFA francs ($126.9 million) from 81.2 billion CFA francs ($137.9 million), helping boost margins. Other external purchases and charges dropped to 149.3 billion CFA francs ($253.6 million) from 159.4 billion CFA francs ($270.8 million). Operating profit jumped to 34.7 billion CFA francs ($58.9 million) from 16.8 billion CFA francs ($28.5 million).

The company's gross operating surplus rose to 57.5 billion CFA francs ($97.6 million) from 41.3 billion CFA francs ($70.1 million). Personnel costs increased to 28.3 billion CFA francs ($48.0 million) from 29.6 billion CFA francs ($50.3 million). Financial charges rose to 4.3 billion CFA francs ($7.3 million) from 5.5 billion CFA francs ($9.3 million). Total assets grew to 307.5 billion CFA francs ($522.3 million) from 327.7 billion CFA francs ($556.5 million).

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Key Takeaways

Solibra dominates Ivory Coast's beverage market with popular brands including Coca-Cola products, local sodas and fruit juices. The company benefits from rising urbanization and growing middle-class consumption across West Africa. The beverage sector in Ivory Coast has expanded rapidly as economic growth drives demand for packaged drinks. However, companies face challenges from rising raw material costs, particularly sugar and packaging materials affected by global commodity price volatility. Competition has intensified as international brands expand in West African markets. Local producers like Solibra must balance premium positioning with affordability for price-sensitive consumers while investing in distribution networks. Solibra's strong 2024 performance reflects successful cost management and market share gains. The company's diverse product portfolio and established distribution channels position it well to capitalize on continued economic growth in the region's largest economy.

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