(Business in Cameroon) – Cameroon’s airports operator ADC ended 2024 with a net profit of CFA9.2 billion, more than double the CFA4.4 billion recorded in 2023, marking a 104% increase. This is the company’s strongest performance in five years, according to official data seen by Investir au Cameroun.
After a profit of CFA6.9 billion in 2019, ADC was hit hard by the Covid-19 crisis, posting a CFA1.9 billion loss in 2020. Since then, the company has steadily recovered, with profits of CFA4.2 billion in 2021, CFA3.2 billion in 2022, and CFA4.4 billion in 2023 before reaching a new high in 2024.
The strong results were driven by revenue growth and governance reforms. Turnover rose from CFA35.2 billion in 2023 to CFA36.7 billion in 2024, up 4.2%. This brought ADC back to pre-pandemic levels, when annual revenue hovered around CFA35 billion. Revenue had almost halved in 2020 due to the collapse in air traffic but has been on an upward path since 2021.
Management attributed the gains not only to the recovery in air travel but also to internal reforms aligned with OHADA rules and the 2017 decree on state-owned firms. These include stronger planning, improved governance, staff training, and a structured risk management framework. An internal report noted that ADC’s risk mapping fell from eleven items in 2017 to eight in 2023.
The record profits come as ADC prepares, along with three other public companies, for a stock market listing managed by Emerald Securities Services Bourse (ESS Bourse). The listing is expected to diversify funding sources and improve transparency, in line with regional requirements. No official timetable has been announced, but the company said the process is underway.
Despite this record year, the sustainability of ADC’s performance will depend on the continued recovery of air traffic and maintaining strong governance. The company faces a challenging environment shaped by volatility in air transport and the demands of financial markets.