The after-tax profit of the company Total Senegal, a subsidiary of the multinational of the same name, increased by 4% at the end of the 2020 financial year compared to that of 2019, announced the leaders of this Dakar-based company.
This profit stood at 6.063 billion FCFA against 5.827 billion FCFA at the end of the 2019 financial year, an increase of 236 million FCFA. The managers of this hydrocarbon distribution company explain this performance despite the decline in sales by a number of factors. They put forward the fact that the 2019 result was reduced by the payment of a tax adjustment of FCFA 1.5 billion, the fact that the 2020 result includes the net proceeds related to the compensation received within the framework of the project. BRT (Bus Rapide Transfert) for an amount of 700 million FCFA, the professionalism and expertise of the teams and the optimization of costs.
Turnover thus fell by 14%, from 454 billion FCFA in 2019 to 387 billion FCFA during the period under review. This underperformance was caused by the sales of goods which were compressed by 64 billion FCFA with an achievement of 379 billion FCFA. For their part, the works and services sold recorded an increase from CFAF 177 million to CFAF 3.024 billion against CFAF 2.847 billion previously. The other products also experienced an increase of 122 million FCFA to 2,013 billion FCFA against 1.891 billion FCFA in 2019.
Examination of the financial statements reveals good control of operating expenses, which fell by 15.37% with an overall level that fell from 431.690 billion FCFA in 2019 to 365.333 billion FCFA a year later. This control is mainly linked to the Purchasing of goods item which contracted from 80 billion to 305 billion FCFA against 385 billion FCFA in 2019. For their part, External Services increased by 8 billion, standing at 42 billion FCFA against 34 billion in 2019.
The added value of the company has fallen by 6% to 21.907 billion FCFA against 23.284 billion FCFA a year earlier. For their part, personnel costs rose from 956 million to 7.134 billion FCFA against 6.178 billion FCFA as of December 31, 2019. As for the gross operating surplus, it fell by 13.64 billion. %, amounting to 14.772 billion FCFA against 17.106 billion FCFA in 2019. The same downward trend is noted at the level of operating income. It was recorded at 10.595 billion FCFA as of December 31, 2020 against 12.247 billion FCFA for the same period of 2019.
How will Total Senegal’s outlook for fiscal year 2021 unfold? On this point, the leaders of the company want to be reassuring and optimistic. “Despite the difficult context (violent demonstrations in March which caused the destruction of several stations), Total Senegal teams are mobilized to meet the challenge of urgently rehabilitating the network while limiting the shortfall”, advance- they. In addition, they believe that while continuing to strengthen its leadership in the Senegalese market, their company will also continue to develop its export sales.
