La Société africaine de plantations d’hévéas (SAPH), the Ivorian natural rubber producer, recorded net profit of CFA francs 9.703 billion from January to September 2026, down 58% year on year, according to its report published on 13 October by the BRVM.
The third quarter, however, marks a recovery. Based on the difference between the accounts at end-September and those at end-June, profit for July to September came to CFA francs 7.497 billion, compared with CFA francs 5.029 billion a year earlier, an increase of around 49%. This improvement reduces the decline accumulated in the first half.
At end-June, the company had posted net profit of only CFA francs 2.206 billion, compared with CFA francs 18.125 billion for the first six months of 2025. The decline then stood at 88%, with revenue down 19%.
Over nine months, sales came to CFA francs 232.474 billion, down 8%. The management cites in particular a 9.5% fall in marketed volumes, linked to congestion at the port of San Pedro. Competition to buy rubber from planters is also squeezing processing margins.
Operating profit fell 53% to CFA francs 15.808 billion. The net financial charge rose to CFA francs 2.805 billion, reflecting cash requirements and borrowings to finance investment, according to the company.
Nevertheless, SAPH expects full-year profit to exceed its budget target by CFA francs 10.67 billion, relying on the recovery in prices. It is also continuing the extension of its Soubré plant.