TotalEnergies Marketing Nigeria Plc returned to profitability within the 9 months ended September 30, 2026, reporting a pre-tax profit of N8.02 billion in opposition to a lack of N11.92 billion within the corresponding interval of 2025, as finance prices declined by 40.13%.
However, its standalone third-quarter pre-tax profit of N1.31 billion was roughly half the N2.62 billion forecast, regardless of income exceeding administration’s projection.
The firm’s unaudited third-quarter monetary statements filed with the Nigerian Exchange (NGX) on Friday, October 23, confirmed income rising by 12.65% to N661.92 billion from N587.59 billion.
Profit after tax additionally improved to N5.84 billion from a lack of N14.10 billion, supported by increased petroleum product gross sales, stronger working earnings and decreased financing bills.
Fuel gross sales drive earnings restoration:
TotalEnergies recorded gross profit of N78.52 billion within the nine-month interval, representing a 19.42% improve from N65.76 billion a yr earlier.
- Operating profit additionally rose by 238.89% to N19.16 billion from N5.65 billion.
- White petroleum merchandise accounted for nearly all of the income development, contributing roughly N71.20 billion, or 96%, of the N74.33 billion improve in complete gross sales.
- Revenue from white petroleum merchandise rose by 17.74% to N472.66 billion.
- Lubricants and different merchandise recorded a 1.68% improve to N189.26 billion.
- Network income elevated by 16.82% to N370.67 billion, whereas General Trade income rose by 19.09% to N244.91 billion.
- Cost of gross sales elevated by 11.80% to N583.39 billion, beneath the 12.65% development in income.
- The slower improve in value of gross sales helped raise gross margin to 11.86% from 11.19% within the corresponding interval.
Administrative bills additionally declined by 1.09% to N59.56 billion, offering extra help for working profitability.
Despite the advance, the corporate’s web profit margin remained beneath 1%, reflecting the continued strain of working and financing prices on earnings.
Lower Finance Costs enhance profit:
A big contributor to TotalEnergies’ earnings restoration was the discount in finance prices, which fell by 40.13% to N12.30 billion from N20.55 billion within the corresponding interval of 2025.
- Interest on financial institution overdrafts declined by 43.26% to N11.58 billion, accounting for about 94% of the corporate’s complete finance prices.
- Earnings per share improved to N17.21 from a lack of N41.54 per share.
- Third-quarter income elevated by 33.13% to N217.92 billion.
- Third-quarter working profit reached N4.64 billion, in contrast with an working lack of N4.66 billion a yr earlier.
- Profit after tax for the third quarter was N894.19 million, in opposition to a lack of N11.25 billion within the corresponding quarter of 2025.
- Third-quarter pre-tax profit stood at N1.31 billion, reversing the N10.23 billion loss recorded a yr earlier.
Nairametrics beforehand reported that TotalEnergies recorded a full-year after-tax loss of approximately N17.18 billion in 2025, in contrast with a profit of N27.40 billion in 2024 earlier than returning to profitability in the first half of 2026 with N4.95 billion in after-tax earnings on income of N443.99 billion.
Nevertheless, its N12.30 billion finance invoice nonetheless represented roughly 64% of working profit and exceeded the N8.02 billion recorded as pre-tax profit.
TotalEnergies working capital deficit narrows:
TotalEnergies decreased its destructive web working capital place to N11.06 billion as of September 30, 2026, in contrast with a deficit of N20.15 billion on the finish of December 2025. However, present liabilities continued to exceed present belongings regardless of the advance.
- Total present belongings elevated by 12.36% to N349.04 billion from N310.64 billion, whereas present liabilities rose by 8.86% to N360.10 billion from N330.79 billion.
- Bank overdrafts declined by 30.02% to N59.26 billion, whereas complete borrowings fell by 3.44% to N81.76 billion.
- The firm disclosed a brand new N22.50 billion short-term intercompany mortgage denominated in {dollars} and carrying a variable rate of interest.
- Current commerce and different receivables elevated by 27.52% to N165.23 billion, whereas commerce and different payables rose by 14.32% to N270.40 billion.
- Operating money move elevated by 66.72% to N38.27 billion, supported partly by increased payables and decrease tax funds.
- Other collectors elevated from N5.47 billion to N63.47 billion, though the statements didn’t present an in depth breakdown of the rise.
- Shareholders’ fairness additionally elevated by 12.29% to N53.38 billion.
Cash balances rose by 25.18% to N56.06 billion, together with N34 billion held with TotalEnergies Treasury, however remained roughly N3.20 billion beneath excellent financial institution overdrafts.
Market response:
The market is but to react to the outcomes announcement because the share value closed flat at N518.40 per share on Friday, October 23.
- Total started the yr with a share value of N640.00 however has since misplaced 19% off that value valuation, rating it 112th on the Nigerian Exchange (NGX) by way of year-to-date efficiency.
- Shareholders’ worries are compounded by the truth that TOTAL has misplaced 10% of the inventory’s worth from September twenty fourth to date.
- However, the market could reprice the inventory on the energy of the earnings restoration.
Although increased gas gross sales and decrease finance prices supported the earnings restoration, amassing excellent receivables, managing the dollar-denominated mortgage and addressing the rise in different collectors stay vital monetary issues.
