Hydrocarbons: Decrease in profit for Total Côte d’Ivoire in 2020

After a decrease of 1.104 billion FCFA (1.656 million euros) in 2019, the drop in after-tax profit of Total Côte d’Ivoire, a subsidiary of the oil multinational of the same name, was accentuated at the end of the financial year. 2020 with a contraction of CFAF 2.771 billion (€ 4.156 million).

The summary financial statements for the period under review of this Abidjan-based company indeed highlight a profit of CFAF 7.648 billion against CFAF 10.419 billion in 2019, a decrease of 26.60%. The turnover and other products are down 7.88% to 417.986 billion FCFA against 453.734 billion FCFA in 2019. This decrease is mainly due to the turnover stricto sensu which fell from 431.131 billion at December 31 2019 to 416.080 billion a year later. On the other hand, other products are on the rise, from 603 million in 2019 to 1.906 billion in 2020.

Purchases of goods and changes in stocks fell by 8.78% to 352.275 billion FCFA against 386.193 billion FCFA in 2019. On the other hand, other purchases and external charges recorded an increase of 6.99%, from 40.897 billion FCFA in 2019 to 43.756 billion FCFA in 2020. In terms of added value, it has fallen by 17.60%, standing at 21.955 billion FCFA against 26.644 billion FCFA in 2019.

As for personnel costs, their level increased during the period under review by 1.107 billion, going from 5.356 billion FCFA in 2019 to 6.463 billion FCFA a year later. Regarding the gross operating surplus, it fell sharply by 27.23% to 15.492 billion FCFA against 21.289 billion FCFA at the end of the 2019 financial year.

For its part, the operating result recorded a more pronounced fall of 40.78%, standing at 7.982 billion FCFA against 13.479 billion FCFA at the end of 2019. As of December 31, 2020, the shareholders ‘equity of Total Côte d’ Ivoire stood at 44.637 billion FCFA against 44.931 billion FCFA as of December 31, 2019, a slight decrease of 0.65%. Over the same period, this company reduced its financial debts and similar resources by 3.942 billion, which stood at 12.373 billion FCFA against 16.315 billion FCFA previously.

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