Tropigalia, the Mozambican distribution and logistics company, recorded a 4% growth in its profits in 2023, totalling 52.6 million meticals.
According to the company’s annual report, consulted by Diário Económico on Monday (19), ‘this result is mainly due to the 16 per cent growth in the company’s core business, which offset the reduction in the tobacco products logistics segment’.
The report also points out that the increase in gross margin, which represented 20.8 per cent of sales, reaching 1.1 billion meticals, contributed to the improvement in results. The company increased its presence in the market and expanded its regional coverage, maintaining a uniform level of service throughout the country.
The document clarifies that ‘despite fixed operating costs having grown by 25 per cent compared to the previous year, due to the increase in transport and external services costs, Tropigalia managed to preserve operating profitability’. However, EBITDA – a financial indicator that measures a company’s profits before the deduction of interest, taxes, depreciation and amortisation, providing a clear view of its operational performance – fell slightly by 4% to 240 million meticals, impacted by financing costs, which accounted for 43%.
‘Despite fixed operating costs having risen by 25 per cent compared to the previous year, due to the increase in transport costs and external services, Tropigalia managed to preserve operating profitability’
The report also reveals that the company made investments in the new logistics centre in Marracuene, worth over 1.1 billion meticals, with the aim of increasing its operational capacity.
Despite the economic challenges, the report notes that Tropigalia has maintained a stable financial structure, with improvements in solvency and liquidity indicators. ‘The company continues to focus on modernising its logistics processes and expanding its distribution network, with a view to consolidating its position in the sector in Mozambique,’ the document points out.
According to recent information from the Mozambique Stock Exchange, Tropigalia ranked fourth in terms of trading volume in the first half of 2024. Cervejas de Moçambique (CDM) led the ranking with 9.4 million meticals (58.6 per cent market share), followed by Companhia Moçambicana de Hidrocarbonetos (CMH) and Hidroeléctrica de Cahora Bassa (HCB).
Felisberto Ruco
