TotalEnergies Marketing Nigeria Plc reported a profit after tax of N5.84 billion for the nine months ended September 30, 2026, reversing a loss of N14.10 billion recorded in the corresponding period of 2025, as revenue increased and finance costs declined.
The company’s unaudited financial statements showed that revenue rose 12.7 per cent to N661.92 billion from N587.59 billion in the same period last year.
Profit before tax stood at N8.02 billion, compared with a loss before tax of N11.92 billion in the first nine months of 2025, reflecting an improvement in operating performance and lower financing expenses.
The return to profitability followed an increase in gross profit to N78.52 billion from N65.76 billion, representing a 19.4 per cent rise over the period.
Cost of sales increased by 11.8 per cent to N583.39 billion from N521.83 billion, growing more slowly than revenue and supporting the improvement in gross profit.
Operating profit climbed to N19.16 billion from N5.65 billion in the corresponding period of 2025, while finance costs declined by 40.1 per cent to N12.30 billion from N20.55 billion.
Finance income, however, fell to N1.16 billion from N2.97 billion, leaving net finance costs at N11.15 billion, down from N17.57 billion a year earlier.
The company’s administrative expenses edged down to N59.56 billion from N60.21 billion, while selling and distribution costs increased to N7.66 billion from N6.69 billion.
Other income rose to N8.20 billion from N6.88 billion, providing additional support to operating performance.
Despite the improved earnings, income tax expense remained at N2.17 billion, broadly unchanged from N2.18 billion in the corresponding period of 2025.
Total assets increased to N426.31 billion as of September 30, 2026, from N388.55 billion at the end of December 2025. Shareholders’ funds stood at N53.38 billion, compared with N47.54 billion at the end of the previous year.
Cash generated from operating activities rose to N43.00 billion from N37.53 billion in the corresponding period of 2025.
After payments including employee benefits, lease interest and taxes, net cash generated from operating activities reached N38.27 billion, up from N22.96 billion.
The company’s cash and cash equivalents remained negative at N3.20 billion at the end of September 2026, although this was an improvement from the negative N27.13 billion recorded a year earlier.
Earnings per share recovered to N17.21 from a loss per share of N41.54 in the first nine months of 2025.
TotalEnergies Marketing Nigeria operates in Nigeria’s petroleum marketing and distribution industry, with business activities spanning refined petroleum products, lubricants and solar products.