SOGB Posts 263% Profit Jump in Q1 on Strong Rubber Exports
TLDR
- Société des Caoutchoucs de Grand-Béréby (SOGB) reported a net profit of 6.02 billion FCFA ($10.5 million) for Q1 2025
- Revenue jumped 63% to 31.21 billion FCFA ($54.2 million) compared to Q1 2024. Operating income reached 6.97 billion FCFA ($12.1 million)
- SOGB, listed on the BRVM regional exchange as SOGC, has a market capitalization of 21.6 billion FCFA ($37.5 million)
Société des Caoutchoucs de Grand-Béréby (SOGB) reported a net profit of 6.02 billion FCFA ($10.5 million) for Q1 2025, up 263% from 1.66 billion FCFA ($2.9 million) in the same period last year, according to results released April 23.
Revenue jumped 63% to 31.21 billion FCFA ($54.2 million) compared to Q1 2024. Operating income reached 6.97 billion FCFA ($12.1 million), a 264% increase. Rubber exports surged 78.5%, driven by higher average selling prices (+41.1%) and increased sales volume (+26.5%).
Palm oil business revenue grew 37.7%, with crude palm oil sales volume up 13.7% and average prices rising 25.9%. Palm kernel oil sales decreased 63.8% in volume but saw prices more than double (+115%). Net profit margin improved to 19.3% from 8.7% a year earlier. SOGB, listed on the BRVM regional exchange as SOGC, has a market capitalization of 21.6 billion FCFA ($37.5 million).
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Key Takeaways
SOGB's strong performance comes amid favorable conditions in global rubber markets. Natural rubber prices have risen on supply constraints in major producing regions and recovering demand from automotive and industrial sectors. The Ivorian agribusiness company operates rubber plantations and processing facilities in southwestern Côte d'Ivoire, along with palm oil production activities. The company exports primarily to European and Asian markets. Agricultural companies have shown resilience on the BRVM exchange compared to other sectors. While the BRVM Composite index fell 3.19% last week, several agricultural stocks posted gains. The significant margin improvement demonstrates the leverage effect of commodity price increases on SOGB's profitability structure. Palm oil prices remain supportive despite volatility, with the complementary business line providing diversification from rubber market cycles.
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