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Strong increase in imported production inputs: a drop of 79.8% in Solibra's net income

11/11/2022
Categories: Companies

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Because of the strong increase in imported production inputs, the Castel group subsidiary, Solibra, saw its turnover fall by 1.8% to 120.880 billion FCFA. Its net profit fell by 79.8% to 3,143 billion FCFA in the first half of 2022.

In a press release from the BVRM, the Castel Solibra group informed that it has retained its market share, but that consumers have decreased attendance at the sites of traditional consumption. Indeed, the drop of 79.8% this semester is also added to the 9.2% drop in distributed volumes due to the fall in consumers' purchasing power.

So, the company saw no improvement in the second half of 2022. During this semester, it will take out two bank loans for a total amount of 35 billion FCFA. In fact, since July and the end of the 25-year partnership with Coca-Cola, Solibra has stopped production and marketing operations for Coca-Cola, Fanta, Sprite and Schweppes products.

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