Finance

Total Senegal posts attractive performance again, despite drop in export sales

Wednesday, 22 June 2022 21:24
Total Senegal posts attractive performance again, despite drop in export sales

(Ecofin Agency) - Despite a drop in its export sales, Total Senegal managed to increase its net profits in the first quarter of 2022. The performance coupled with a generous dividend policy makes the company attractive to investors.  

Total Senegal seems to be doing well despite ECOWAS sanctions against Mali, its main export market.  On the WAEMU stock exchange, the company even posts a cumulative 29.11% gain between January 2022 to date. It is the best annualized gain recorded in the company’s share value since 2016, according to market data accessed by Ecofin Agency. 

In 2021, the value of Total Senegal’s share rose by 10%. This year, the company has resumed its dividend distribution policy with a dividend representing more than 120% of its earnings per share. This comes after its sales were negatively impacted by the inability to supply fuel to Mali. In the first quarter of 2021, export volumes fell by 21%. Sales volumes slightly increased (2%) in Senegal and its revenues rose by 19% (to XOF103.6 billion or US$167 million) notably because of post-pandemic economic recovery. 

Total Senegal's activity is closely monitored by the French energy group TotalEnergies, which is its 69.1% shareholder.  It is also monitored by up to 6,000  individual and institutional investors that control 30.9% of its shares. 

Let’s note that the rise in the company’s value may hit a brake because currently, the company is on a 17-year streak of net profit. Also, dividend yields exceeding 100% of earnings per share may not last forever.  



 
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