Total Ivorian Subsidiary Revenue Drops 5.8% in Q1
TLDR
- TotalEnergies Marketing Côte d'Ivoire (BRVM: TTLC) posted first-quarter revenue of 147.98 billion CFA francs ($256.3 million), down 5.8%
- Net income fell 30.6% to 2.21 billion CFA francs ($3.82 million) from 3.18 billion CFA francs in Q1 2024
- The company attributed the significant profit decline to reduced off-network sales during the first quarter
TotalEnergies Marketing Côte d'Ivoire (BRVM: TTLC) posted first-quarter revenue of 147.98 billion CFA francs ($256.3 million), down 5.8% from 157.07 billion CFA francs in the same period last year.
Net income fell 30.6% to 2.21 billion CFA francs ($3.82 million) from 3.18 billion CFA francs in Q1 2024, according to a company statement released today. Operating income before tax decreased 9.3% to 3.14 billion CFA francs ($5.43 million).
The company attributed the significant profit decline to reduced off-network sales during the first quarter. TotalEnergies Marketing Côte d'Ivoire operates as a subsidiary of global energy company TotalEnergies SE. The Abidjan-based firm has registered capital of 3.15 billion CFA francs ($5.45 million).
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Key Takeaways
TotalEnergies has expanded its presence in West Africa's energy market despite regional challenges. The company operates in approximately 120 countries worldwide, focusing on oil, natural gas, biofuels, low-carbon hydrogen, renewables, and electricity production. The revenue decline mirrors broader trends in francophone West Africa's energy sector, where fluctuating global oil prices and regional economic pressures have impacted downstream operators. TotalEnergies maintains market leadership in Côte d'Ivoire's petroleum distribution sector despite increased competition from local and international players. The company has recently emphasized renewable energy investments across Africa as part of its global strategy to reduce carbon intensity while maintaining profitability in traditional petroleum markets.
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