{"id":13869,"date":"2025-09-13T20:35:09","date_gmt":"2025-09-13T20:35:09","guid":{"rendered":"https:\/\/sic.cm\/2024-financial-statements-sic-confirms-its-recovery-and-profitability\/"},"modified":"2025-09-14T10:32:10","modified_gmt":"2025-09-14T10:32:10","slug":"2024-financial-statements-sic-confirms-its-recovery-and-profitability","status":"publish","type":"post","link":"https:\/\/sic.cm\/en\/2024-financial-statements-sic-confirms-its-recovery-and-profitability\/","title":{"rendered":"2024 Financial Statements: SIC Confirms its Recovery and Profitability"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><\/p>\n\n<p class=\"wp-block-paragraph\">In accordance with its principles of <strong>good governance<\/strong> and <strong>transparency<\/strong>, the Cameroon Real Estate Company (SIC) makes available to the public the <strong>summary financial statements for the fiscal year ended December 31, 2024<\/strong>, approved at the General Assembly on August 29, 2025.<\/p>\n\n<p class=\"wp-block-paragraph\">These results reflect <strong>the sustained efforts of the General Management and teams<\/strong> to permanently reverse the trend and consolidate SIC&#8217;s position as a strategic player in housing in Cameroon.<\/p>\n\n<p class=\"wp-block-paragraph\">\u00a0<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/sic.cm\/wp-content\/uploads\/2025\/09\/sic-article-1024x576.jpg\" alt=\"SIC article\" class=\"wp-image-13844\" style=\"width:auto;height:272px\"\/><figcaption class=\"wp-element-caption\"><em>Le Mfoundi Residence \/ district<\/em> <em>Hippodrome<\/em>-Yaound\u00e9<\/figcaption><\/figure>\n<\/div>\n<h3 class=\"wp-block-heading\">Significantly Improved Financial Indicators <\/h3>\n\n<ul class=\"wp-block-list\">\n<li><strong>Equity<\/strong>: FCFA <strong>152,024,915,156<\/strong>  <\/li>\n\n\n\n<li><strong>Total assets<\/strong>: FCFA <strong>172,092,423,391<\/strong>  <\/li>\n\n\n\n<li><strong>Net profit<\/strong>: FCFA <strong>592,733,816<\/strong>  <\/li>\n<\/ul>\n\n<p class=\"wp-block-paragraph\">This performance contrasts with fiscal years prior to 2019, which were marked by average losses of FCFA -2.6 billion. Over the recent period (2019\u20132024), SIC now records a <strong>positive average accounting profit<\/strong> of FCFA <strong>343.6 million<\/strong>, representing a <strong>profitability index of 0.39%<\/strong>. <\/p>\n\n<p class=\"wp-block-paragraph\"><img decoding=\"async\" width=\"16\" height=\"16\" src=\"\"\/>\ud83d\udc49 In other words, <strong>SIC has become a profitable company again<\/strong>, and this <strong>even before the massive relaunch of housing production<\/strong>. <\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"467\" height=\"262\" src=\"https:\/\/sic.cm\/wp-content\/uploads\/2025\/09\/projet-pizzarotti-article.jpg\" alt=\"Pizzarotti project article\" class=\"wp-image-13846\"\/><figcaption class=\"wp-element-caption\"><em>Pizzarotti Project &#8211; EKOKO II Nsimalen<\/em><\/figcaption><\/figure>\n<\/div>\n<h3 class=\"wp-block-heading\">A Successful Transformation over 7 Years<\/h3>\n\n<p class=\"wp-block-paragraph\"> Between 2018 and 2024, SIC recorded: <\/p>\n\n<ul class=\"wp-block-list\">\n<li>A <strong>59.76% increase<\/strong> in total assets <\/li>\n\n\n\n<li>A <strong>79.38% increase<\/strong> in equity <\/li>\n\n\n\n<li>A <strong>114.63% reduction in accounting losses<\/strong>  <\/li>\n\n\n\n<li>A <strong>1,362.97% increase in net cash<\/strong>  <\/li>\n<\/ul>\n\n<p class=\"wp-block-paragraph\">These figures attest to a <strong>solid and sustainable recovery<\/strong>, resulting from clear strategic choices and improved management rigor. <\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"605\" height=\"343\" src=\"https:\/\/sic.cm\/wp-content\/uploads\/2025\/09\/sic-dg-article.jpg\" alt=\"SIC GM article\" class=\"wp-image-13848\"\/><figcaption class=\"wp-element-caption\"><em>SIC General Manager&#8217;s visit to Le Mfoundi Residence &#8211; Hippodrome-Yaound\u00e9<\/em><\/figcaption><\/figure>\n<\/div>\n<h3 class=\"wp-block-heading\">Strengthened Governance and Compliance <\/h3>\n\n<p class=\"wp-block-paragraph\">The Auditor&#8217;s report highlights major advances in governance and compliance within SIC between 1974 and 2024, with a <strong>95.46% reduction in reservations and anomalies.<\/strong><\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>Reservations issued<\/strong>: from 5 to 0 <\/li>\n\n\n\n<li><strong>Anomalies observed<\/strong>: from 6 to 0 <\/li>\n\n\n\n<li>Recommendations: from 33 to only 2 <\/li>\n<\/ul>\n\n<p class=\"wp-block-paragraph\">Furthermore, 85ha have been obtained, 392 are under regularization, and the ERP system has been initiated, contributing to an internal control system that is now mastered. These advances reflect SIC&#8217;s efforts to strengthen its <strong>internal control<\/strong> and adopt management standards compliant with best practices. <\/p>\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n<h3 class=\"wp-block-heading\">Download Financial Statements <\/h3>\n\n<p class=\"wp-block-paragraph\">The summary financial statements for the 2024 fiscal year, as well as an extract from the Auditor&#8217;s report, are available for download: <\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-cyan-blue-color\"><a href=\"https:\/\/sic.cm\/wp-content\/uploads\/2025\/09\/Bilan-SIC-2024.pdf\">[Balance Sheet as of 2024-12-31]  <\/a> <\/mark><\/strong><\/li>\n\n\n\n<li><a href=\"https:\/\/sic.cm\/wp-content\/uploads\/2025\/09\/Compte-de-resultat-SIC-2024.pdf\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-cyan-blue-color\">[Income Statement as of 2024-12-31] <\/mark><\/strong><\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/sic.cm\/wp-content\/uploads\/2025\/09\/etats-financier-2024.pdf\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-cyan-blue-color\">[Extract from the Auditor&#8217;s Report]<\/mark><\/strong><\/a><\/li>\n<\/ul>\n\n<h3 class=\"wp-block-heading\">Conclusion <\/h3>\n\n<p class=\"wp-block-paragraph\">These results demonstrate that SIC has reached an important milestone in its transformation. With sound financial foundations and strengthened governance, the company is now ready to embark on the next phase of its development. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>In accordance with its principles of good governance and transparency, the Cameroon Real Estate Company (SIC) makes available to the public the summary financial statements for the fiscal year ended December 31, 2024, approved at the General Assembly on August 29, 2025. These results reflect the sustained efforts of the General Management and teams to permanently reverse the trend and consolidate SIC&#8217;s position as a strategic player in housing in Cameroon. \u00a0 Significantly Improved Financial Indicators This performance contrasts with fiscal years prior to 2019, which were marked by average losses of FCFA -2.6 billion. Over the recent period (2019\u20132024), SIC now records a positive average accounting profit of FCFA 343.6 million, representing a profitability index of 0.39%. \ud83d\udc49 In other words, SIC has become a profitable company again, and this even before the massive relaunch of housing production. A Successful Transformation over 7 Years Between 2018 and 2024, SIC recorded: These figures attest to a solid and sustainable recovery, resulting from clear strategic choices and improved management rigor. Strengthened Governance and Compliance The Auditor&#8217;s report highlights major advances in governance and compliance within SIC between 1974 and 2024, with a 95.46% reduction in reservations and anomalies. Furthermore, 85ha have been obtained, 392 are under regularization, and the ERP system has been initiated, contributing to an internal control system that is now mastered. These advances reflect SIC&#8217;s efforts to strengthen its internal control and adopt management standards compliant with best practices. Download Financial Statements The summary financial statements for the 2024 fiscal year, as well as an extract from the Auditor&#8217;s report, are available for download: Conclusion These results demonstrate that SIC has reached an important milestone in its transformation. With sound financial foundations and strengthened governance, the company is now ready to embark on the next phase of its development.<\/p>\n","protected":false},"author":1,"featured_media":13839,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"slim_seo":{"title":"2024 Financial Statements: SIC Confirms its Recovery and Profitability - SIC","description":"In accordance with its principles of good governance and transparency , the Cameroon Real Estate Company (SIC) makes available to the public the summary financi"},"footnotes":""},"categories":[146],"tags":[],"class_list":["post-13869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>2024 Financial Statements: SIC Confirms its Recovery and Profitability - SIC<\/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:\/\/sic.cm\/en\/2024-financial-statements-sic-confirms-its-recovery-and-profitability\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2024 Financial Statements: SIC Confirms its Recovery and Profitability - SIC\" \/>\n<meta property=\"og:description\" content=\"In accordance with its principles of good governance and transparency, the Cameroon Real Estate Company (SIC) makes available to the public the summary financial statements for the fiscal year ended December 31, 2024, approved at the General Assembly on August 29, 2025. These results reflect the sustained efforts of the General Management and teams to permanently reverse the trend and consolidate SIC&#8217;s position as a strategic player in housing in Cameroon. \u00a0 Significantly Improved Financial Indicators This performance contrasts with fiscal years prior to 2019, which were marked by average losses of FCFA -2.6 billion. Over the recent period (2019\u20132024), SIC now records a positive average accounting profit of FCFA 343.6 million, representing a profitability index of 0.39%. \ud83d\udc49 In other words, SIC has become a profitable company again, and this even before the massive relaunch of housing production. A Successful Transformation over 7 Years Between 2018 and 2024, SIC recorded: These figures attest to a solid and sustainable recovery, resulting from clear strategic choices and improved management rigor. Strengthened Governance and Compliance The Auditor&#8217;s report highlights major advances in governance and compliance within SIC between 1974 and 2024, with a 95.46% reduction in reservations and anomalies. Furthermore, 85ha have been obtained, 392 are under regularization, and the ERP system has been initiated, contributing to an internal control system that is now mastered. These advances reflect SIC&#8217;s efforts to strengthen its internal control and adopt management standards compliant with best practices. Download Financial Statements The summary financial statements for the 2024 fiscal year, as well as an extract from the Auditor&#8217;s report, are available for download: Conclusion These results demonstrate that SIC has reached an important milestone in its transformation. With sound financial foundations and strengthened governance, the company is now ready to embark on the next phase of its development.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sic.cm\/en\/2024-financial-statements-sic-confirms-its-recovery-and-profitability\/\" \/>\n<meta property=\"og:site_name\" content=\"SIC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=100063594097503\" \/>\n<meta property=\"article:published_time\" content=\"2025-09-13T20:35:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-09-14T10:32:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/sic.cm\/wp-content\/uploads\/2025\/09\/reunion-eval-sic.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"960\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin-sic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@sic_officiel\" \/>\n<meta name=\"twitter:site\" content=\"@sic_officiel\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin-sic\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/sic.cm\/en\/2024-financial-statements-sic-confirms-its-recovery-and-profitability\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/sic.cm\/en\/2024-financial-statements-sic-confirms-its-recovery-and-profitability\/\"},\"author\":{\"name\":\"admin-sic\",\"@id\":\"https:\/\/sic.cm\/en\/#\/schema\/person\/5db7fcbeafd9b62f060ab52e1e19427d\"},\"headline\":\"2024 Financial Statements: SIC Confirms its Recovery and Profitability\",\"datePublished\":\"2025-09-13T20:35:09+00:00\",\"dateModified\":\"2025-09-14T10:32:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/sic.cm\/en\/2024-financial-statements-sic-confirms-its-recovery-and-profitability\/\"},\"wordCount\":374,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/sic.cm\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/sic.cm\/en\/2024-financial-statements-sic-confirms-its-recovery-and-profitability\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/sic.cm\/wp-content\/uploads\/2025\/09\/reunion-eval-sic.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/sic.cm\/en\/2024-financial-statements-sic-confirms-its-recovery-and-profitability\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/sic.cm\/en\/2024-financial-statements-sic-confirms-its-recovery-and-profitability\/\",\"url\":\"https:\/\/sic.cm\/en\/2024-financial-statements-sic-confirms-its-recovery-and-profitability\/\",\"name\":\"2024 Financial Statements: SIC Confirms its Recovery and Profitability - 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These results reflect the sustained efforts of the General Management and teams to permanently reverse the trend and consolidate SIC&#8217;s position as a strategic player in housing in Cameroon. \u00a0 Significantly Improved Financial Indicators This performance contrasts with fiscal years prior to 2019, which were marked by average losses of FCFA -2.6 billion. Over the recent period (2019\u20132024), SIC now records a positive average accounting profit of FCFA 343.6 million, representing a profitability index of 0.39%. \ud83d\udc49 In other words, SIC has become a profitable company again, and this even before the massive relaunch of housing production. A Successful Transformation over 7 Years Between 2018 and 2024, SIC recorded: These figures attest to a solid and sustainable recovery, resulting from clear strategic choices and improved management rigor. Strengthened Governance and Compliance The Auditor&#8217;s report highlights major advances in governance and compliance within SIC between 1974 and 2024, with a 95.46% reduction in reservations and anomalies. Furthermore, 85ha have been obtained, 392 are under regularization, and the ERP system has been initiated, contributing to an internal control system that is now mastered. These advances reflect SIC&#8217;s efforts to strengthen its internal control and adopt management standards compliant with best practices. Download Financial Statements The summary financial statements for the 2024 fiscal year, as well as an extract from the Auditor&#8217;s report, are available for download: Conclusion These results demonstrate that SIC has reached an important milestone in its transformation. 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