Cote d'Ivoire: Palm Cote d'Ivoire Full-Year Revenue, Net Income Dip

21 April 2025
Daba Finance (Abidjan)

TLDR

  • Palm closed 2024 with revenue of 172.18 billion CFA francs ($299.1 million), down from 206.24 billion CFA francs ($358.3 million) in 2023
  • Net profit decreased to 15.86 billion CFA francs ($27.6 million) from 19.35 billion CFA francs ($33.6 million) the previous year
  • Palm's board has proposed a gross dividend of 513 CFA francs ($0.89) per share for shareholder approval at the upcoming general meeting

Palm Cote d'Ivoire (BRVM: PALC) closed 2024 with revenue of 172.18 billion CFA francs ($299.1 million), down from 206.24 billion CFA francs ($358.3 million) in 2023. Net profit decreased to 15.86 billion CFA francs ($27.6 million) from 19.35 billion CFA francs ($33.6 million) the previous year.

Operating income fell to 21.92 billion CFA francs ($38.1 million) from 28.88 billion CFA francs ($50.2 million). Cash flow from operations improved significantly to 28.46 billion CFA francs ($49.4 million), compared to 3.01 billion CFA francs ($5.2 million) in 2023. Capital expenditures included 20.00 billion CFA francs ($34.7 million) for tangible assets and 56.64 million CFA francs ($98,400) for financial investments.

Follow us on WhatsApp | LinkedIn for the latest headlines

The company paid dividends of 9.68 billion CFA francs ($16.8 million), less than the 20.85 billion CFA francs ($36.2 million) distributed in 2023. PALMCI's board has proposed a gross dividend of 513 CFA francs ($0.89) per share for shareholder approval at the upcoming general meeting.

Daba is Africa's leading investment platform for private and public markets. Download here

Key Takeaways

Headquartered in Abidjan, Palm operates as a leading palm oil producer in West Africa. The company's 2024 performance shows resilience despite challenging market conditions. The improved cash flow from operations signals strengthened operational efficiency, even as revenue declined. This positions the company well for its strong Q1 2025 growth, as reported in the earlier quarterly results. The proposed dividend reflects Palm's commitment to shareholder returns while maintaining financial stability for future investments in palm oil processing capacity. The company's strategic importance in Ivory Coast's agricultural sector continues as the country works to increase value-added processing in its economy.

Read the original article on Daba Finance.

Tagged:
Copyright © 2025 Daba Finance. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 80 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.