TotalEnergies Marketing Nigeria Plc has released its unaudited financial results for the year ended 31 December 2025.
The Company reported a pre-tax loss of N12.5 billion, a stark contrast to the N42.26 billion pre-tax profit recorded in 2024, marking the first loss in six years.
The company also reported a post-tax loss of N17.18 billion for 2025, compared to a post-tax profit of N27.50 billion in 2024.
This represents a sharp decline in profitability, reflecting the significant challenges TotalEnergies faced during the year
The significant decline in profitability is partly attributed to a 26% drop in revenue, which stood at N767.63 billion in 2025, compared to N1.04 trillion in 2024.
Key highlights (FY 2025 vs 2024)Â
- Revenue: N767.63 billion, down 26% YoY
- Cost of Sales: N685.56 billion, down 26% YoY
- Gross Profit: N82.07 billion, down 29% YoY
- Operating Profit: N9.49 billion, down 85% YoY
- Finance Costs: N21.99 billion, up 12% YoY
- Total Assets: N434.35 billion, down 8% YoY
- Retained Earnings: N44.05 billion, down 21% YoY
- Equity: N44.215 billion, down 41% YoY
What the numbers are sayingÂ
TotalEnergies’ 26% drop in revenue in 2025 played a central role in the pre-tax loss. This decline in revenue and high direct costs contributed to the loss.
- The drop in revenue directly affected the company’s ability to cover its cost of sales, which amounted to N685.56 billion, resulting in a N82.07 billion gross profit; a 29% decline from the previous year.
Despite efforts to manage costs, administrative and selling expenses surged by 41.9% and 70.9%, respectively, contributing to the sharp fall in operating profit.
The company’s operating profit decreased by 85% to just N9.49 billion, indicating the significant pressure faced in controlling expenses amidst lower revenue.
Finance costs also increased by 12% to N21.99 billion, reflecting higher borrowing costs, which added further strain to profitability.
The pre-tax loss of N12.5 billion is the company’s first loss in six years, marking a significant shift in its financial performance.
On the balance sheet, total assets decreased by 8%, and retained earnings fell by 21%, reflecting the impact of the loss on shareholder equity.
Despite these challenges, the company continues to maintain a strong asset base, with future recovery contingent on its ability to manage costs more effectively and grow revenue.
What to knowÂ
The 2025 loss marks the first negative result in the last 6 years for TotalEnergies Marketing Nigeria Plc.
Over the past five years (2020-2024), the company maintained a profit of over N48 billion, with strong profitability leading up to 2025.
However, signs of a potential downturn were apparent as the company posted a meager N74 million profit in 2024, marking the worst profit in the past five years.
Aside from the significant revenue decline, finance costs and operating expenses also increased, further affecting profitability. As a result, the company’s 2025 loss was somewhat anticipated, as reflected in its Q4 2024 forecast, which projected a post-tax loss of N2.2 billion.
However, the company reported a higher-than-expected loss of N3.1 billion in Q4, signaling deeper-than-anticipated challenges in its operations.
Investors should also note that this downturn could potentially affect the company’s consistent dividend trend.
Over the past five years, TotalEnergies has maintained a steady growth in dividend payments, increasing from N6 per share in 2020 to N40 in 2024, reflecting a CAGR of over 60%. However, with the company now facing losses, dividend payments may be impacted or disrupted going forward.
The company’s share price declined by 8.31% in 2024, closing at N640, and has remained flat in the current year.
Despite this, TotalEnergies still holds a market capitalization of N217 billion, which is significantly higher than its net assets of N44 billion, highlighting a potential discrepancy between market perception and the company’s actual financial position.
