Home / Business / SABC announces consolidated net profit of XAF16 bln, down 34% YoY, in 2019

SABC announces consolidated net profit of XAF16 bln, down 34% YoY, in 2019

Business in Cameroon  | Société Anonyme des Brasseries du Cameroun (SABC), a subsidiary of the French group Castel, indicates it recorded a consolidated net profit of about XAF16 billion in 2019. Year over year, this is down by about 34% if compared with the XAF24.3 billion recorded in 2018.

The SABC explains this poor performance, in part, by the decline in the volume of its activities in 2019. The volume of beer sales, excluding free beers, is 4.6 million hl, down 2% compared to sales in 2018. Sales of mixed alcohol fell by 1% to 0.3 million hl.

Despite an increase in water sales, by 32% to 0.9 million hl, the consolidated pre-tax turnover from the production SABC sold fell from XAF333 billion FCFA in 2018 to about XAF310 billion FCFA in 2019, a 7% drop.

Société camerounaise de verrerie (Socaver), a subsidiary of the SABC, also experienced an exceptional decline in the first half of 2019 due to the planned shutdown (between January and August 2019) of furnace No. 2 for reconstruction.

Socaver’s net loss amounted to XAF3.3 billion against a net profit of XAF796 million for the first half of 2018. Despite the normal resumption of activity of furnace No. 2 in August 2019, it is officially reported that Socaver’s net profit for the second half of 2019 remains insufficient to compensate for the loss already recorded in H1, 2019.

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