Resilient Performance in 2024
In 2024, Tropigalia demonstrated resilience in the face of significant economic and social challenges.
Despite a fragmented consumer market and a substantial downturn amid the social unrest of the last quarter, Tropigalia managed to maintain a healthy economic performance, with only a slight decline compared to 2023, and without any loss in average profitability across its various business units.
Even in this adverse context, Tropigalia continued its investment plan in infrastructure, fleet, and human capital, albeit at a slower pace, particularly in the second half of the year.
We strengthened our market position, rising to 27th place in the ranking of the 100 Largest Companies in Mozambique, published by KPMG and MIC.
We closed the year with negative net results, largely due to increased financial costs stemming from the scarcity of foreign currency in the market. Nonetheless, we maintained a strong balance sheet and a solid treasury position, unique within the sector in Mozambique.
Dividends on 2024 Results
Despite the residual negative net results in 2024, the company maintains remarkable financial health and is not facing any structural difficulties, having only been affected by the short-term impacts of the post-election crisis and its effects on the consumer market.
Accordingly, the management has decided to distribute dividends based on retained earnings from previous years, amounting to 1.25 meticais per Class A share and 1.50 meticais per Class B share. This decision is in line with what was done in 2023 and is justified by the fact that it does not compromise the company’s financial stability and is supported by the positive results already recorded in 2025.
Future Perspectives
Despite the challenges that arose in the post-election period at the end of 2024 and the continued uncertainty surrounding the immediate development of the market, we maintain an optimistic view regarding the growth potential of the logistics and distribution sector in the medium and long term.
As Tropigalia celebrates 20 years of existence and completes a significant phase of investment in the expansion and modernization of its operations, the company is preparing to embark on a new cycle of growth. This will be supported by a more agile, innovative, and resilient management model, capable of effectively responding to future challenges.
This new model is based on three fundamental pillars:
- Autonomization and decentralization of operations;
- Automation and adoption of intelligent decision-support systems;
- Expansion and modernization of the regional logistics network.
In parallel, we have started packaging domestically sourced legumes under the Gourmet brand, which is currently the company's best-selling food brand. We aim to strengthen this strategic area by increasing its value-generating capacity and deepening the commitment we have made: to invest in the local transformation of high-quality, nationally sourced products.
We will continue to be present in every household, in the media, and on store shelves, with consumer products that earn the trust of Mozambican consumers. Our growth will increasingly be supported by strong partnerships with leading international brands, without ever compromising our values or our culture.
We have earned the trust of consumers, and it is on this trust that we base our mission and envision our future.
FAQ
Tropigalia is a Mozambican import and logistical and commercial distribution company for fast-moving consumer goods (“FMCG”), on an exclusive basis in the national market. The company distributes more than 3,000 products from around 50 internationally renowned brands at more than 12,000 points of sale, including its own brand Gourmet, the national brand with the widest range of food products.
Tropigalia was founded on April 14, 2004 and started its activity on July 1, 2004.
The Company has a network of more than 12,000 clients nationwide, in the informal and formal segment, including international chains of hypermarkets, supermarkets, wholesalers, mini-waretores, clients in the HORECA segment (Hotel, Restaurant and Catering), and other types of retailers.
Tropigalia is one of the largest Mozambican companies operating in the distribution sector of food and non-food products for mass consumption. In 2021, it recorded a turnover of more than 3,200 million Meticais, had more than 500 employees and a fleet of more than 150 distribution vehicles. In the most recent publication of “KPMG – 100 Largest Companies in Mozambique (2022)”, Tropigalia was classified as the 28th largest company in Mozambique.
Adolfo Correia, founding shareholder and current Chairman of the Company's Board of Directors, is the largest shareholder, with 61.9% of the capital. The second largest shareholder with 24.9% of the capital is Tropifoods Mozambique Limited, a company of an Investment Fund based in Mauritius, which invested in Tropigalia in 2017, and counts as main investors in the Fund entities such as IFC (Agência de World Bank Private Sector Financing) and the African Development Bank (AFDB or AfDB). The remaining shares are essentially held by Individual Investors and by Tropigalia itself.
An OPS occurs when a company proposes to most investors the subscription of its share capital through the issue of new shares.
Tropigalia's share offering corresponded to a capital increase of up to 3,078,507 (three million, seventy-eight thousand, five hundred and seven) registered, preferred, non-voting, non-redeemable and book-entry shares, representing up to 10% (ten per cent) of the Share Capital. of the Company, after issuance.
The OPS took place exclusively in Mozambique and was aimed at the general public, whatever the nature of the investor: individual, collective, institutional, Mozambican or foreign, resident or not in Mozambique. The subscription of shares was made through two segments, subject to the rules defined for each segment: Segment A: Tropigalia Workers and Young Investors; Segment B: General Public.
Tropigalia shares were available for subscription at the value of 100.00 MT (one hundred Meticais) for Segment A and 120.00 MT (one hundred and twenty Meticais) for Segment B.
Holders of shares subject to the OPS have the following main rights: The right to participate in General Assembly meetings; The right to a non-cumulative priority dividend, at least 10% higher than the dividend attributed to ordinary shares; The right to elect, together with other Class B shareholders, if any, an effective member of the Supervisory Board; The right to information about Tropigalia and other rights attributed to shareholders by law or by the Articles of Association.
GALLERY
