SAM Reports Q1 2025 Results: Mixed Performance Amidst Challenging Market Conditions
Local Sales Remain Steady, Exports Decline
In the first quarter of 2025, SAM (Société Atelier du Meuble intérieurs) reported a local revenue of 5,573 billion CFA francs, confirming its performance in the same period of 2024, with a slight decrease of 1% (-70 billion CFA francs).
On the Ivorian market, sales recorded a significant increase of 81% compared to the same period in 2024. However, export revenue declined by 53% due to the non-recurring nature of an exceptional market in Libya last year, which accounted for 69% of the export revenue in Q1 2024.
This decline in exports weighed on SAM's overall revenue, which stood at 5,922 billion CFA francs in Q1 2025, representing a 6% decrease compared to the same period of the previous year.
Order Book and Investments Show Promise
The confirmed order book, as of the end of March 2025, reached 5.5 billion CFA francs, indicating a positive evolution of revenue in the coming quarters.
Furthermore, cumulative investments as of March 31, 2025, showed a 27% year-over-year increase, with a notable 58% growth for SAM.
Debt Increases to Support Inventory Financing
Debt increased by 29%, reaching 1,059 billion CFA francs as of the end of March. This increase is mainly explained by the financing of inventory worth 400 billion CFA francs, ensuring treasury balance and respecting commitments related to markets to be delivered in Q2 2025.
