Société des Eaux Minérales du Cameroun (SEMC), a subsidiary of Boissons du Cameroun specializing in mineral water production, has announced improved profitability in 2025. According to resolutions submitted to shareholders for the mixed general meeting scheduled for June 5, 2026, in Douala, the company generated a net profit of 899.5 million FCFA, in accordance with IFRS international accounting standards. This represents an increase compared to the 772.2 million FCFA recorded the previous year.
After a decline observed in 2024, SEMC posted an increase of 127.3 million FCFA in its net result. In the previous year, the company's profitability was affected by the increase in certain operating expenses, in particular transport costs, external services and the cost of raw materials.
The documents preparing for the General Meeting also report a net profit of 840.6 million FCFA according to Syscohada accounting standards. The difference between the two frameworks is explained by differences in treatment, in particular with regard to provisions, depreciation and certain financial restatements.
On the strength of this improvement in its results, the Board of Directors is proposing to shareholders the payment of a gross dividend of 800 FCFA per share for the 2025 financial year. Based on the 192,473 shares making up the company's share capital, the total amount to be distributed would be approximately 154 million FCFA.
After deduction of tax on income from movable capital (IRCM), the net dividend would be 720 FCFA for shareholders resident in Cameroon, 680 FCFA for those established in France and 696 FCFA for other foreign shareholders. The notice specifies that "this dividend will be paid from the day of the General Meeting".
SEMC plans to retain a significant portion of its profits in its accounts. Out of a total distributable profit of more than 2 billion FCFA, nearly 1.8 billion FCFA should be allocated to retained earnings. This strategy reflects prudent management, given increased competition in the Cameroonian mineral water market.
Long a leader thanks to its Tangui brand, SEMC must now contend with the rise in power of competitors such as Source du Pays. In 2018, Source du Pays, with its Supermont brand, held 67% of the market share, while SEMC claimed 40% of the market in 2021. Listed on the Central African Stock Exchange (Bvmac), the SEMC share is currently trading at around 49,000 FCFA.
