Servair Abidjan Sets September Dividend Despite Profit Decline

AFRICAN STOCKS AND FINANCEJuly 13, 2026 at 9:47 AM UTC

TLDR

Servair Abidjan to pay net dividend of 124 CFA francs per share for 2025 financial year
Revenue increased by 7% in 2025 mainly driven by higher passenger traffic and catering contracts
Profit declined due to higher tax charge and increased costs, highlighting focus on cost control and margin improvement

Servair Abidjan (BRVM: ABJC) will pay a net dividend of 124 CFA francs per share for the 2025 financial year on Sept. 30, the BRVM said, after the airport catering company reported lower annual earnings despite higher revenue.

The stock will trade ex-dividend from Sept. 29, with the shareholder register closing on Sept. 30. The payment follows shareholder approval of the 2025 results and confirms the company will continue distributing earnings despite a weaker profit performance.

Servair reported 2025 revenue of 13.30 billion CFA francs, up 7% from a year earlier, supported by higher passenger traffic at Abidjan’s Félix Houphouët-Boigny International Airport and growth in non-aviation catering contracts. Operating profit remained stable at about 2.22 billion CFA francs, showing the business maintained its operating performance despite higher costs.

Net profit fell 12% to 1.33 billion CFA francs from 1.52 billion CFA francs in 2024. The decline was driven mainly by a higher tax charge, while first-quarter 2026 results showed further pressure as profit dropped 35.6% to 222.6 million CFA francs. Revenue in the quarter rose 1.9% to 3.24 billion CFA francs, but higher airport concession costs, infrastructure spending and slower airline activity linked to Middle East tensions weighed on margins.

The company said investment will continue as it prepares for expected growth in air traffic and expands catering services beyond aviation. Servair is part of the Gate Gourmet network and remains one of the BRVM’s listed airport services companies.

Points clés à retenir

Servair’s dividend shows that the company continues to generate enough cash to reward shareholders even as earnings come under pressure. At the current dividend of 124 CFA francs per share, the payout is lower than the previous year but reflects management’s effort to balance shareholder returns with investment needs. The company’s main challenge is not demand. Passenger traffic at Abidjan airport continues to grow and supports revenue, while new catering contracts provide another source of sales. The issue is costs. New airport concession terms, investment in facilities and higher operating expenses are reducing margins. The first-quarter 2026 results suggest those pressures have continued into the new year. For BRVM investors, Servair remains an income stock tied to the recovery of aviation and travel in West Africa. Future dividend growth will depend less on passenger numbers than on the company’s ability to protect margins, control costs and convert higher revenue into profit. If airport traffic continues to expand and recent investments improve efficiency, earnings could recover over the medium term. Until then, investors are likely to focus on cash generation, dividend sustainability and margin trends rather than revenue growth alone.

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