“TotalEnergies Nigeria Posts Major Pre-Tax Loss as Earnings Decline”

TotalEnergies Marketing Nigeria Plc reported a pre-tax loss of N12.50 billion for the year ending 31 December 2025, a stark reversal from the N42.26 billion profit recorded in 2024, as revenue slumped and operational performance weakened.

The company’s audited financial results showed revenue fell 26 per cent to N767.63 billion in 2025, down from N1.04 trillion the previous year. Rising operating and finance costs contributed to the loss-making outcome.

Gross profit dropped to N82.07 billion from N115.75 billion, while operating profit fell sharply to N9.49 billion, compared with N61.87 billion in 2024. Net finance costs rose to N21.99 billion, intensifying pressure on earnings.

TotalEnergies Nigeria recorded a net loss after tax of N17.18 billion, against a profit of N27.50 billion in 2024. Total comprehensive loss stood at N17.29 billion, reversing the previous year’s comprehensive income of N27.49 billion. Earnings per share fell to a loss of 50.59 kobo from a gain of 80.99 kobo.

On the balance sheet, total assets declined to N434.35 billion from N471.12 billion, reflecting lower inventories and cash holdings. Cash and cash equivalents dropped to N43.30 billion from N91.31 billion, while shareholders’ funds fell 41 per cent to N44.21 billion due to the full-year loss. Total liabilities slightly decreased to N390.14 billion, with loans and borrowings reducing to N83.18 billion from N115.70 billion.