Eterna Plc reported a pre-tax profit of N6.8 billion for the year ended 31 December 2025, up 52.96% from N4.48 billion recorded in 2024.
The fourth quarter drove much of the growth, contributing N5.48 billion in profit, a 72.52% jump from N3.17 billion in Q4 2024, as quarterly sales rose to N89.6 billion.
Full-year revenue stood at N302.5 billion, slightly down from N313.6 billion in 2024, with fuel sales accounting for 86.56% of turnover, followed by lubricants and other products.
Profitability strengthened despite softer revenue, supported by a swing from a N15.7 billion net exchange loss to a N107.6 million gain and lower finance costs.
Key Highlights (FY 2025 vs FY 2024)
- Revenue: N302.5 billion (Down 3.54% YoY from N313.6 billion)
- Gross profit: N12.4 billion (Down 68.84% YoY from N39.94 billion)
- Operating profit: N9.1 billion (Down 67.15% YoY from N27.9 billion)
- Pre-tax profit: N6.8 billion (Up 52.97% YoY from N4.4 billion)
- Profit after tax: N2.2 billion (Up 69.31% YoY from N1.3 billion)
- Earnings per share (EPS): N1.75 (Up 69.90% YoY from N1.03)
- Total assets: N93.4 billion (Up 38.65% YoY from N67.4 billion)
- Cash and cash equivalents: N4.7 billion (Up 190% YoY from N1.6 billion)
Driving the numbers
Eterna Plc recorded a slight revenue decline, as fuel sales fell to N261.8 billion from N272.4 billion and lubricants eased to N38.5 billion from N39.1 billion.
- However, cost pressures intensified, with the cost of sales rising to N290 billion from N273.6 billion, compressing gross profit sharply to N12.4 billion, down 68.84% year on year.
Administrative expenses climbed 33.70% to N12.5 billion, though this was partly offset by lower selling costs and N9.4 billion in other income.
- Other income was largely driven by a one-off N8.7 billion gain on debt extinguishment, which helped cushion weaker operating margins.
In addition, a net foreign exchange gain of N107.67 million replaced the prior year’s N15.79 billion loss, while finance costs shrank to N2.4 billion from N7.69 billion.
On the balance sheet, total assets rose to N93.4 billion from N67.4 billion, driven mainly by inventories, which surged to N59.14 billion.
Higher borrowings lifted total liabilities 37.99% to N86.3 billion. More favorably, the company reported N685.6 million in retained earnings, a rebound from a N1.5 billion loss in 2024.
Market reaction
As of the trading day that ended 23 February 2026, shares of Eterna Plc closed at N32.50, reflecting a 5.35% month-to-date gain in February.
Year to date, the stock is up more than 14%, supported by sustained bullish sentiment across the oil and gas sector. Positive market reaction is expected to strengthen in the coming sessions.
