2015 Annual Results - 2015 Fourth-Quarter Revenue
Improved profitability despite a drop in sales in a more challenging economic environment...
- Improvement of the recurring operating margin to 7.8% of sales
- Net income attributable to owners of the parent rising by +6.1% versus 2014 to €106.6m
- Group revenue down -3.5% over the year : decrease of CFAO Automotive Equipment & Services sales in a context of repositioning of the division
- Proposed dividend : 0.81 euro per share
In a statement, Richard Bielle, Chairman of CFAO's Management Board said:
“CFAO’s financial performance once again demonstrates the Group’s strength and the pertinence of its business model. 2015 was a year of transition marked by a significant economic slowdown in oil-producing countries, and which saw, in our automotive segment, the last significant effects of the end of certain distribution agreements.
Aside from the improvement in operating margin attributable to outstanding team commitment, the Group continued to focus on preparing its future growth drivers. Initiatives were launched across all of our activities in the aim of meeting new expectations on the continent, with the emergence of an African middle class seeking high-quality new products and services.
The opening of PlaYce, Abidjan’s first shopping mall including a Carrefour hypermarket, is the tangible sign of how our model has adapted to this profound and lasting change in our environment. I remain very confident in our ability to seize other opportunities in the future as our business lines evolve as they must.”
Please find hereafter the entire press release.
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