Ivorian Water Distribution Company (SODECI) targets a portfolio of 970,000 customers by 2018, the firm’s 2015 annual report states. To do this, it relies on the economic growth recovered by the country added to the extension of production capacities.

At December 31, 2015, SODECI’s number of customers grew by 8.3% to 852,662 from 784,326 at the end of 2014. The growth according to officials is due to subsidized connections established during President’s visits inside the country and works carried out to extend the network.

Still during the same period, production of subsidiary of Eranove group also soared 8.9% from 209 million m3 in 2014 to 227 million m3 in 2015, as new production units were developed. Billed volumes also increased 7.7% to 171 million m3 2015 ending against 159 million m3 the year before.

In this context, the company’s turnover increased by 8.2% to FCFA88 billion. Added value reached FCFA24.9 billion, up 10.9%. Despite the increase, brut margin ratio rose by 0.6 points only to 28.3% (28.3 CFA for every 100 CFA of turnover made). Net profit surged 5.5% to 3.2 billion CFA Francs.

Beyond its relatively positive performances, SODECI will have to improve its treasury. It ended 2015 at FCFA1.1 billion, against FCFA2.5 billion in 2014. Technically, operational funds for the company rose from FCFA14.8 billion in 2014 to FCFA23.5 billion at the end of 2015.

This surely results from investments increasing to 9.8 billion in 2015, thus raising payable wages to 18.7 billion CFA (against 10 billion in 2014). To close the gap, SODECI had to borrow 12.9 billion CFA (1.3 billion in 2014).

In spite of this, the company remains quite optimistic and projects that by 2018, volumes sold annually will exceed 200 million m3, as it installs a new production unit and a slight increase in the profitability of its network, through investments made and establishment of new drinking water production units in Abidjan and Bounoua. It offered for 2015, to share a global dividend of FCFA3.24 billion.

Idriss Linge