Africa Global Logistics Cuts Losses by 54% in Q1 on Higher Revenue
TLDR
- Africa Global Logistics Cote d'Ivoire (BRVM: SDSC), a major West African logistics firm, narrowed its first-quarter net loss by 54%
- Net losses shrank to 193.2 million CFA francs ($328,000) from 416.4 million CFA francs ($707,000) in Q1 2024
- Logistics activities linked to commodities, including maritime transport, warehousing and transit delivery showed progress
Africa Global Logistics Cote d'Ivoire (BRVM: SDSC), a major West African logistics firm, narrowed its first-quarter net loss by 54% as revenue rose and the company improved cost controls. Net losses shrank to 193.2 million CFA francs ($328,000) from 416.4 million CFA francs ($707,000) in Q1 2024. Revenue climbed 6.2% to 23.1 billion CFA francs ($39.2 million) from 21.7 billion CFA francs ($36.9 million).
Operating results improved 15% to a loss of 144.4 million CFA francs ($245,000) from 169.3 million CFA francs ($287,000). The company attributed the turnaround to higher revenue and better charge management. Logistics activities linked to commodities, including maritime transport, warehousing and transit delivery showed progress. The company handled 154,000 tons of imports in Q1 2025, up 5% from 87,000 tons in the same period last year.
Maritime activities performed well due to conventional maintenance tied to cocoa, wheat and sugar shipments. Good container management and volume levels helped offset declines in container delivery activities caused by slower port operations and road work.
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Key Takeaways
Africa Global Logistics operates across West Africa's critical trade corridors, handling imports and exports for landlocked countries, including Mali and Burkina Faso, through Ivory Coast's ports. The company benefits from Ivory Coast's position as the world's largest cocoa producer and a major agricultural exporter. Port of Abidjan handles over 23 million tons of cargo annually, making it one of West Africa's busiest facilities. Regional infrastructure challenges, including road conditions and border delays, affect logistics costs. However, government investments in port modernization and transport corridors create growth opportunities. Competition from international logistics providers has intensified as trade volumes grow. Local firms like AGL must leverage regional knowledge and relationships while investing in technology and equipment to remain competitive in the expanding West African market.
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