Key Highlights
- TotalEnergies has notified the investing public and the Nigerian Exchange Limited of the appointment of Mrs Bunmi Popoola-Mordi to its Board as an Executive Director.
- The company was incorporated as a private company on June 1, 1956, to market petroleum products in Nigeria.
- TotaleEnergies’s PBT grew by 17.4% y/y to N6.00 billion in unaudited Q4-2022 as against N5.11 billion in Q4-2021.
The Board of Directors of TotalEnergies Marketing Nigeria Plc has approved the appointment of Mrs Bunmi Popoola-Mordi to its Board as an Executive Director.
This was contained in the company’s notice to the Nigerian Exchange Limited (NGX) and obtained by Nairametrics.
Profile of Bunmi Popoola-Mordi
According to the statement signed by Mr Jean-Philliptorres, Chairman, Bunmi is a law graduate, a member of the Nigerian Bar Association and a Fellow of the Institute of Chartered Secretaries and Administrators.
She has several post-graduate degrees in law and an MBA in oil and gas management. Her career spans legal practice, banking, human resources management, industrial relations, communication, corporate governance, investor relations, and public relations amongst others.
She joined TotalEnergies Marketing Nigeria Plc in 2011 as Legal Affairs Manager / Company Secretary, was promoted to General Manager of Human Resources & Corporate Services/Company Secretary in 2015 and appointed Executive General Manager of Total Country Services in 2019.
Mrs Bunmi Popoola-Mordi was appointed Executive Director of Human Resources & Corporate Services effective 1st April 2023.
What you should know
TotalEnergies Marketing Nigeria Plc is a marketing and services subsidiary of TotalEnergies; a multinational energy company operating in more than 130 countries.
TotalEnergies was incorporated as a private company on June 1, 1956, to market petroleum products in Nigeria. On September 11, 2001, the company had a successful merger which paved way for sustainable growth and continuous development. The share capital of the company after the merger is presently N169,761,000 made up of 50k ordinary shares authorised and fully paid up with Nigerian Citizens and Associations holding 38.28% of the share capital.
TotalEnergies Marketing Nigeria Plc is targeting to achieve N84.86 billion in revenue during the second quarter ending June 2023.
This is contained in its Q2 2023 earnings forecast released to the Nigerian Exchange Limited (NGX) and seen by Nairametrics.
The company is projecting to rake in N14.69 billion in gross profit. It also targets profits before and after tax of N5.29 billion and N3.58 billion, respectively.
Also, note that the projected income tax expenses for the period is N1.7 billion, even as the cost of sales was projected at N70.69 billion for the period.
TotaleEnergies’s PBT grew by 17.4% y/y to N6.00 billion in unaudited Q4-2022 as against N5.11 billion in Q4-2021. Following a tax expense of N2.07 billion, profit after tax stood at N3.93 billion from N3.48 billion in Q4-2021.
Net finance cost rose sharply to N1.36 billion in the quarter (Q4-21: N10.48 million), following a 339.8% y/y rise in finance cost. Notably, the higher finance cost outturn reflects the surge in interest on import loans (+3208.7% y/y) and on other loans (+67.8% y/y).
Revenue grew by 46.6% y/y in Q4-22 (2022FY: +41.4% y/y), primarily driven by solid growth across the business’ three segments – network (+17.2% y/y | 42.4% of revenue), general trade (+63.7% y/y | 41.3% of revenue) and aviation (+139.3% y/y | 14.6% of revenue).
