TotalEnergies Marketing Nigeria Plc reported a pre-tax profit of N42.2 billion for the year ended 31 December 2024, marking a 140.35% increase from the N17.5 billion recorded in 2023.
The company’s full-year revenue surged by 63.83%, rising from ₦635.9 billion in 2023 to ₦1.04 trillion.
White products, including Premium Motor Spirit, Automotive Gas Oil, and Aviation Turbine Kerosene generated ₦830.4 billion in revenue.
Lubricants and other products contributed an additional ₦211.4 billion.
Sales costs rose to N926.1 billion, up from N554.1 billion.
Nevertheless, gross profit rose by 41.47%, climbing from N81.8 billion to N115.7 billion.
Other income increased significantly to N30.8 billion from N4.3 billion in the previous year, representing a 610.87% surge, mainly driven by a N25 billion writeback of accruals.
However, administrative expenses also saw a notable rise, climbing to N64.7 billion from N44.3 billion in 2023.
Despite the rise in expenses, operating profit rose to N61.8 billion, up from N23.9 billion in the previous year.
Total Energies’ board of directors proposed a final dividend of N40.00 per ordinary share of 50 kobo, an increase from the N25.00 declared in 2023.
By the close of trading on April 4, 2025, TotalEnergies Marketing Nigeria Plc’s share price was N679.70, marking a year-to-date (YtD) decline of 2.62% from the opening price of N698 at the beginning of the year.
