Ivorian Firm Sucrivoire Returns to Profitability After Strong Growth
TLDR
- Sucrivoire posted a revenue increase of 28% in 2024, reaching 87.2 billion FCFA from 68.1 billion FCFA in 2023
- Sugar production rose 19% to 88,694 tonnes, while sugar sales increased 20% to 142,639 tonnes
- The company is currently the 38th most valuable stock on the BRVM with a market capitalization of XOF 14.7 billion
Sucrivoire posted a revenue increase of 28% in 2024, reaching 87.2 billion FCFA from 68.1 billion FCFA in 2023. Operating profit rose to 8.1 billion FCFA from a prior-year loss of 4.9 billion FCFA, while net profit reached 2.59 billion FCFA, reversing a 10.3 billion FCFA loss in 2023.
Sugar production rose 19% to 88,694 tonnes, while sugar sales increased 20% to 142,639 tonnes. Cane processing volume increased 11% to 1.02 million tonnes. The improvements were driven by higher sugar extraction rates, reduced plant downtime, and operational efficiencies.
The company is currently the 38th most valuable stock on the BRVM with a market capitalization of XOF 14.7 billion. It began the year with a share price of 775 XOF but has since lost 3.23% off that price valuation, ranking it 37th on the BRVM in terms of year-to-date performance.
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Key Takeaways
Sucrivoire’s recovery reflects its financial restructuring and efficiency improvements. The company benefited from optimized production schedules and reduced process losses, leading to higher output and improved margins. As sugar demand remains strong, Sucrivoire aims to maintain production growth and strengthen market position. Its restructuring plan, approved in August 2024, is progressing, with management focused on financial discipline and operational improvements. The company plans to expand activities while integrating sustainable practices to ensure long-term growth.
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