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Total Plc: Decrease in sale of petroleum products depletes revenues

Total Plc recorded decreased revenues from its two revenue-generating units and pre-tax profits also decreased.

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Total Nigeria Plc

Total Plc reported revenue of N151.71 billion in 2020 9M compared to N221.84 billion in the same period of 2019.

READ: Revenue analysis of NSE 30 companies

READ: Lafarge Africa Plc: Increase in cement sales boosts revenues

Key highlights for 2020 9M

  • Revenue decreased to N151.71 billion, -31.61% YoY.
  • Revenue from petroleum products decreased to N117.36 billion, -35.41% YoY.
  • Revenue from lubricants and others decreased to N35.87 billion, -10.66% YoY.
  • Finance cost decreased to N2.57 billion, -58.25% YoY.
  • Cost of sales decreased to N130.68 billion, -33.58% YoY.
  • Pre-tax profits increased to N912.87 million, +880.56% YoY.
  • Earnings Per Share increased to 1.47 kobo, +345.00% YoY.

READ: MTN Nigeria records 16.6% increase in revenue in Q3 2020

READ: Kano State presents N147.9 billion budget for 2021 fiscal year

Bottom Line:

Total Plc recorded decreased revenues from its two revenue-generating units and pre-tax profits also decreased. Companies have generally recorded decreased revenue in the last three quarters mostly due to COVID-19. Pre-tax profits increased significantly, thanks to the reduced cost of sales and finance cost.

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Adeyemi holds a PhD in Accounting Sciences. He has worked in the Educational Sector and as an Independent Consultant.

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Company Results

Rak Unity Petroleum Company Plc Posts N63 million loss in 2020 FY results

Rak Unity Petroleum Company Plc reported revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

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Focus: This small-cap oil company is seriously lagging behind

Rak Unity Petroleum Company Plc released its 2021 FY results reporting total revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

  • Operating expenses during the year was N149.65 million in 2020 compared to N221.89 million in 2019. –32.56% YoY
  • The company reported a loss after tax of N63.02 million in 2020 compared to N14.52 million loss after tax in 2019.
  • It reported a loss per share of N1.11  in 2020 compared to N0.26 loss per share reported in 2019.
  • No dividend announcement was made in their press release.
  • The company share price of N0.30 unchanged YTD.

See link to results here

Continue Reading

Company Results

Conoil posts 23% post-tax profit decline in 2020 FY results

Conoil Plc reported a revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.

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Conoil Plc released its 2021 FY results reporting revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.  

  • Operating expenses during the year was N7.64 billion in 2020 compared to N9.68 billion in 2019. 20.9% YoY 
  • The company reported a profit after tax of N1.52 billion in 2020 compared to N1.97 billion in 2019. –22.97% cut YoY.  
  • It reported an earnings per share of 219 kobo in 2020 compared to 284 kobo earnings per share reported in 2019. 22.89% YoY. 
  •  No dividend announcement was made in their press release. 
  • The company share price of N20.85, up +0.72% YTD. 

See link to results here

Continue Reading

  





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