The Ivorian  company Crown Société Ivoirienne d'Emballage Métallique (SIEM), in difficulty since 2018, returned to profit, making an after-tax profit of 690.339 million FCFA (1.035 million euros) as at 31 December 2019.

This company had made a loss of 74.527 million FCFA in 2018 against a profit of 149.568 million FCFA in 2017. Revenue fell by 1.111 billion CFA francs in absolute terms from 19.797 billion in 2018 to 18.685 billion a year later. During the period under review, purchases of raw materials and other purchases were reduced by 1.028 billion, from 11.561 billion CFA francs in 2018 to 10.433 billion CFA francs a year later. A decrease of 34.500 million was noted at the level of the Transport item at 283.633 million.

On the other hand, external services increased by 6.60% to 1.502 billion CFA francs against 1.409 billion CFA francs. For its part, the company's added value increased by 14.53%, from CFAF 3.028 billion at 31 December 2018 to CFAF 3.468 billion a year later.  Personnel costs increased by 8.43% to CFAF 2.532 billion compared to CFAF 2.335 billion at the end of the 2019 financial year. 

Gross operating income increased by 242.541 million with an achievement that stood at 935.537 million FCFA against 692.996 million FCFA in 2018. For its part, the operating result made a big jump of 685 million, standing at 1.021 billion FCFA against 336 million FCFA in 2018.

For the 2019 financial year, the directors of Crown SIEM have not planned a dividend distribution to their shareholders. They decided to allocate the entire result of the year to the carry-over again, the balance of which amounts to 765.900 million CFA francs.