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Cameroon: SABC's turnover falls by CFA4bn YoY in 2023 despite increase in sales

Cameroon: SABC's turnover falls by CFA4bn YoY in 2023 despite increase in sales
  • Comments   -   Wednesday, 27 March 2024 07:30

(Business in Cameroon) - Cameroonian brewing company SABC announced it has wrapped up 2023 with a turnover of around 729 billion FCFA, slightly down by CFA4 billion compared to 2022.

However, CEO Stéphane Descazeaud stressed that although the turnover decreased, sales went up slightly from 1.095 billion liters to 1.1 billion liters over the year. In the previous year, market shares for beer, soft drinks, and water stood at 73.9%, 58.2%, and 28.4%, respectively. With the recent expansions, SABC is poised to increase its beverage production significantly. The extension in Yaoundé alone is expected to boost production by 18%, adding a mixed beverage line (beer, AM, soft drinks) that can produce 35,000 bottles per hour.

Moreover, construction has begun on new packaging lines in Bafoussam (in the west of the country), with plans to expand to Garoua (North) and Ndokoti (Littoral) by 2025. These efforts are projected to add 2.5 million hectoliters (or 250 million liters) to SABC's current glass bottle packaging capabilities over the next 12 months, representing a more than 30% increase.

Despite a challenging environment characterized by high inflation and sustained fiscal pressure, including a five-year freeze on beverage prices, Descazeaud remains pleased with the company's performance. These achievements come amid significant investments over recent years and the ongoing Anglophone crisis, which has significantly impacted sales volumes in the Northwest and Southwest regions.

Regarding taxation, Descazeaud disclosed that in 2023, SABC paid over CFA367 billion in taxes, including VAT, excise duties, customs duties, and corporate tax, amounting to 50.3% of the company's total revenue. The company has also faced a CFA33 billion increase in input costs over two years due to inflation: CFA16 billion in 2021-2022 and another CFA17 billion in 2022-2023.

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