PALMCI Revenue Rises But Profit Slips as Input Costs Bite

BREAKING NEWSMarch 25, 2026 at 11:15 AM UTC

TLDR

PALMCI, the leading palm oil producer in Côte d'Ivoire, reported a 15% revenue growth in fiscal 2025 to XOF 197.6bn.
Despite revenue growth, net profit decreased to XOF 15.5bn due to rising raw material costs and increased personnel expenses.
PALMCI faces challenges from high global crude palm oil prices, impacting margins and profitability in 2025.

PALMCI, the Abidjan-based palm oil producer listed on the BRVM, grew revenue by nearly 15% in fiscal 2025 to XOF 197.6bn ($347.1M), driven by stronger sales of manufactured products and accessory income. But higher costs ate into the bottom line, and net profit slipped to XOF 15.5bn ($27.2M) from XOF 15.9bn ($27.8M) a year earlier.

Raw material purchases were the main drag, rising more than 50% year-on-year and compressing value added and operating margins across the board. Personnel costs also climbed. The result was an operating profit that fell roughly 6% despite the top-line growth.

On the cash side, the picture was brighter. Operating cash flow jumped over a third, helped by a release of working capital as inventories and receivables unwound. Net treasury improved sharply, ending the year in a far less negative position than in 2024.

The board proposed a gross dividend of XOF 502 per share, a small reduction from the prior year. These accounts remain provisional pending shareholder approval at the Annual General Meeting.

Key Takeaways

PALMCI is the largest palm oil producer in Côte d'Ivoire and a subsidiary of the SIFCA Group, operating tens of thousands of hectares of industrial plantations and working with a network of outgrower farmers. The company dominates the WAEMU regional market and contributes meaningfully to national GDP. The cost squeeze it faced in 2025 reflects a broader sector trend: global crude palm oil prices climbed sharply through 2024 and into 2025, lifting revenues but also inflating the price of fresh fruit bunches and third-party inputs. Côte d'Ivoire's domestic price controls on refined palm oil limit the company's ability to pass those costs on to consumers, a structural constraint that makes margin management particularly difficult in high-price commodity cycles.

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