BRVM-Listed Tractafric Motors Returns to Profit After Previous Loss

BREAKING NEWSMay 6, 2025 at 11:48 AM UTC

TLDR

Tractafric Motors Côte d'Ivoire (BRVM: PRSC) reported a net profit of 2.35 billion FCFA ($4.1 million) for fiscal year 2024, rebounding from a 916 million FCFA ($1.6 million) loss in 2023
The Ivorian vehicle distributor posted this profit despite a 4.1% decrease in total assets to 45.2 billion FCFA ($78.3 million) from 51.2 billion FCFA ($88.7 million) a year earlier
The company will distribute dividends of 2.12 billion FCFA ($3.7 million), representing 207 FCFA per share, with 3.44 billion FCFA ($6 million) carried forward

Tractafric Motors Côte d'Ivoire (BRVM: PRSC) reported a net profit of 2.35 billion FCFA ($4.1 million) for fiscal year 2024, rebounding from a 916 million FCFA ($1.6 million) loss in 2023. The Ivorian vehicle distributor posted this profit despite a 4.1% decrease in total assets to 45.2 billion FCFA ($78.3 million) from 51.2 billion FCFA ($88.7 million) a year earlier.

Commercial margin improved dramatically to 13.1 billion FCFA ($22.7 million) from negative 167.3 million FCFA (-$289,800) in 2023. Improved inventory management contributed to this recovery, with a positive variation in merchandise stock of 3.2 billion FCFA ($5.5 million).

The company will distribute dividends of 2.12 billion FCFA ($3.7 million), representing 207 FCFA per share, with 3.44 billion FCFA ($6 million) carried forward. Customer receivables decreased to 11.1 billion FCFA ($19.2 million) from 14.3 billion FCFA ($24.8 million), indicating improved collection efficiency.

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Key Takeaways

Tractafric Motors, a subsidiary of the Optorg Group, is a major automotive distributor in West and Central Africa, specializing in Mercedes-Benz, Mitsubishi, and other vehicle brands. The company operates in 23 African countries. The automotive sector in Ivory Coast faced challenges in recent years, including supply chain disruptions and economic headwinds. However, improved business conditions in 2024 helped stabilize operations for major distributors. Vehicle imports to Ivory Coast have been recovering after pandemic-related disruptions, with the premium segment showing resilience. Tractafric's return to profitability reflects both operational improvements and a stabilizing market. The company's focus on after-sales service and parts distribution, which typically offer higher margins than new vehicle sales, has likely contributed to its financial recovery despite ongoing challenges in the automotive supply chain.

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