{"id":6464,"date":"2024-05-28T13:15:42","date_gmt":"2024-05-28T13:15:42","guid":{"rendered":"https:\/\/challengeseconomiques.com\/?p=6464"},"modified":"2024-05-28T13:16:01","modified_gmt":"2024-05-28T13:16:01","slug":"brvm-dettes-elevees-rendements-en-baisse-pour-les-societes-petrolieres-cotees","status":"publish","type":"post","link":"https:\/\/challengeseconomiques.com\/?p=6464","title":{"rendered":"BRVM : dettes \u00e9lev\u00e9es, rendements en baisse pour les soci\u00e9t\u00e9s p\u00e9troli\u00e8res cot\u00e9es"},"content":{"rendered":"<div class=\"itemIntroText\">\n<p class=\"texte textearticle\"><strong>\u00a0Une part plus \u00e9lev\u00e9e des marges est tourn\u00e9e vers des remboursements de dettes, et le rendement pour les actionnaires est faible et en baisse.<\/strong><\/p>\n<p class=\"texte textearticle\">Pour les trois soci\u00e9t\u00e9s de distribution de produits p\u00e9troliers cot\u00e9es \u00e0 la Bourse r\u00e9gionale des valeurs mobili\u00e8res (BRVM) d&rsquo;Abidjan, l&rsquo;ann\u00e9e 2023 s&rsquo;est termin\u00e9e avec des niveaux d&rsquo;endettement \u00e9lev\u00e9s, augmentant la pression sur les rendements financiers pour les investisseurs. Parmi elles, Vivo Energy a enregistr\u00e9 la plus forte augmentation de son endettement net.<\/p>\n<p class=\"texte textearticle\">A fin 2023, l&rsquo;endettement net de Vivo Energy repr\u00e9sentait 172\u00a0% de ses fonds propres contre 42\u00a0% l&rsquo;ann\u00e9e pr\u00e9c\u00e9dente, atteignant ainsi son plus haut niveau depuis 2019, selon une analyse des rapports financiers de l&rsquo;entreprise. TotalEnergies S\u00e9n\u00e9gal a suivi une tendance similaire avec un ratio dettes nettes sur fonds propres de 156,11\u00a0% en hausse par rapport aux 127,63\u00a0% de 2022, ce qui constitue \u00e9galement le niveau le plus \u00e9lev\u00e9 en quatre ans.<\/p>\n<p class=\"texte textearticle\">Pour TotalEnergies C\u00f4te d&rsquo;Ivoire, ce ratio s&rsquo;est \u00e9tabli \u00e0 29,47\u00a0%. Bien que plus faible, il s&rsquo;agit du niveau le plus \u00e9lev\u00e9 depuis 2019. Parall\u00e8lement \u00e0 cette augmentation de l&rsquo;endettement, une baisse de la rentabilit\u00e9 financi\u00e8re (gain pour les actionnaires) a \u00e9t\u00e9 observ\u00e9e entre 2019 et 2023. La rentabilit\u00e9 financi\u00e8re de la soci\u00e9t\u00e9 est pass\u00e9e de 23,19\u00a0% \u00e0 19,06\u00a0%.<\/p>\n<p class=\"texte textearticle\">TotalEnergies S\u00e9n\u00e9gal a connu une chute de sa rentabilit\u00e9 financi\u00e8re, passant de 31,5\u00a0% en 2022 \u00e0 18,8\u00a0% en 2023. Quant \u00e0 Vivo Energy, bien que son taux de rentabilit\u00e9 pour les actionnaires ait augment\u00e9 par rapport \u00e0 son plus bas niveau de 2019 (-25\u00a0%), il reste inf\u00e9rieur \u00e0 celui des entreprises du m\u00eame secteur avec un taux de 15,9\u00a0% \u00e0 fin 2023.<\/p>\n<p class=\"texte textearticle\">L&rsquo;analyse crois\u00e9e des r\u00e9sultats des trois soci\u00e9t\u00e9s montre que les marges d&rsquo;exploitation et la part des b\u00e9n\u00e9fices nets sur le chiffre d&rsquo;affaires ont \u00e9galement diminu\u00e9, tandis que la part des charges financi\u00e8res sur leurs dettes a relativement augment\u00e9. Les deux filiales de TotalEnergies ont annonc\u00e9 pour 2023 des dividendes nets repr\u00e9sentant un rendement moyen de 10\u00a0% pour les deux entreprises.<\/p>\n<p class=\"texte textearticle\">Cependant, ce rendement est principalement d\u00fb \u00e0 la baisse de la valeur boursi\u00e8re des actions des deux entreprises. Par exemple, Vivo Energy n&rsquo;a pas distribu\u00e9 de dividendes pour l&rsquo;exercice 2023. Les trois soci\u00e9t\u00e9s expliquent cette configuration de leurs activit\u00e9s par divers facteurs, mais les investisseurs en fonds propres esp\u00e8rent obtenir de meilleurs rendements de leurs placements.<\/p>\n<p class=\"texte textearticle\">Il est important de noter que tous les actionnaires ne sont pas log\u00e9s \u00e0 la m\u00eame enseigne. Ces entreprises sont des filiales de grands groupes \u00e9nerg\u00e9tiques tels que TotalEnergies et le groupe britannique Shell, qui sont souvent leurs fournisseurs et b\u00e9n\u00e9ficient ainsi de revenus consolid\u00e9s. En revanche, les autres actionnaires ne profitent pas des m\u00eames opportunit\u00e9s de revenus.<\/p>\n<p><strong>(Agence Ecofin)<br \/>\n<\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0Une part plus \u00e9lev\u00e9e des marges est tourn\u00e9e vers des remboursements de dettes, et le rendement pour les actionnaires est faible et en baisse. Pour&#8230;<\/p>\n","protected":false},"author":1,"featured_media":5283,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-6464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-actualite-economique","wpcat-8-id"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BRVM : dettes \u00e9lev\u00e9es, rendements en baisse pour les soci\u00e9t\u00e9s p\u00e9troli\u00e8res cot\u00e9es - challenges economiques<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/challengeseconomiques.com\/?p=6464\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BRVM : dettes \u00e9lev\u00e9es, rendements en baisse pour les soci\u00e9t\u00e9s p\u00e9troli\u00e8res cot\u00e9es - challenges economiques\" \/>\n<meta property=\"og:description\" content=\"\u00a0Une part plus \u00e9lev\u00e9e des marges est tourn\u00e9e vers des remboursements de dettes, et le rendement pour les actionnaires est faible et en baisse. 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