TLDR
- Vivo Energy Côte d'Ivoire (SHEC) records a 12% revenue increase in Q3 2024, driven by a 9% volume growth mainly from aviation and corporate sectors.
- Operating profit surges by 67% to 7.54 billion FCFA, supported by increased sales and controlled expenses.
- Despite a decline in financial income, net income rises by 63% to 2.85 billion FCFA in the year-over-year comparison.
Vivo Energy Côte d'Ivoire (SHEC) posted a 12% rise in revenue for Q3 2024, reaching 445.54 billion FCFA compared to 398.93 billion FCFA in Q3 2023. This growth was driven by a 9% increase in volumes, mainly from aviation and corporate sectors.
Operating profit rose 67% to 7.54 billion FCFA, aided by higher sales and controlled operating expenses. However, financial results deteriorated, with a 121% decline in financial income to -3.08 billion FCFA, attributed to increased bank overdraft usage and higher financial costs. Net income grew 63% year-over-year to 2.85 billion FCFA, up from 1.75 billion FCFA.
Vivo Energy began the year with a share price of 790 XOF and has since gained 15.2% on that price valuation, ranking it 17th on the BRVM in terms of year-to-date performance.
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Key Takeaways
The results highlight Vivo Energy Côte d'Ivoire's ability to scale revenue and manage operating costs amid rising financial expenses. The company leveraged strong demand in aviation and business fuel markets while keeping expenses under control. The financial headwinds reflect broader challenges in cost management related to credit facilities, signaling a potential area for improvement. Continued focus on revenue growth and expense control could maintain profitability while managing financial liabilities remains critical for sustaining net income growth.
