Côte d’Ivoire’s tobacco producer SITAB, which is listed on the BRVM regional stock exchange, reported third-quarter 2026 net profit of CFAF8.67 billion, down 33% from CFAF12.94 billion a year earlier. Earnings declined even as revenue rose 19.5%, according to the company’s activity report released on October 30.
Revenue reached CFAF77.39 billion, compared with CFAF64.78 billion in the third quarter of 2025. Sales volumes increased 18.5%, driven mainly, according to management, by customers bringing purchases forward ahead of the introduction of plain cigarette packaging. The resulting boost to turnover did not translate into a comparable rise in earnings.
Management highlighted two pressures behind the divergence. Regulatory changes pushed up the cost of acquiring products, while income generated by investment securities declined. Together, higher costs and weaker investment income limited the benefits of the stronger sales performance.
Ordinary earnings come under pressure
Profit from ordinary activities fell 22.9%, from CFAF15.16 billion to CFAF11.69 billion. The quarterly net profit margin was approximately 11.2% of revenue, down from nearly 20% a year earlier, underscoring the pressure on profitability despite higher sales.
For the remainder of 2026, SITAB plans to maintain sales momentum while improving operating efficiency. The company enters the final quarter as changing packaging rules are already influencing when customers place their orders.