Aradel Holdings Plc has launched its unaudited outcomes for the 9 months ended thirtieth September 2025, reporting a pre-tax revenue of N300.7 billion, representing a 57% enhance from the N191.5 billion reported in 9M 2024.
Submit-tax revenue additionally noticed a considerable soar of 122%, reaching N245.1 billion, in comparison with N110.6 billion within the earlier yr.
Income surged by 43%, reaching N538.8 billion, in comparison with N377.6 billion in the identical interval final yr.
The corporate’s earnings per share for the interval stood at N55.9, up from N25.4 in 9M 2024, reflecting the sturdy monetary efficiency.
Consequently, the corporate declared an interim dividend of N10 to be paid on 28 November 2025 to shareholders whose names seem within the Register of Shareholders as on the shut of enterprise on 20 November 2025
Key Highlights (9M 2025 vs. 9M 2024):
- Income: N538.8 billion (+43% YoY)
- EBITDA: N261.4 billion (+10% YoY)
- Working Revenue: N167.5 billion (-1% YoY)
- Pre-Tax Revenue: N300.7 billion (+57% YoY)
- Submit-Tax Revenue: N245.1 billion (+122% YoY)
- Earnings Per Share: N55.9 (+120% YoY)
- Dividend Declared: N10.00 per share (+25% YoY)
- Crude Oil Manufacturing: 15.3kbbls/day (+25% YoY)
- Fuel Manufacturing: 50.6mmscf/day (+41% YoY)
- Refined Merchandise Manufacturing: 235.7 million litres (+40% YoY)
- Whole Belongings: N1.96 trillion (+12% YoY)
- Whole Fairness: N1.5 trillion (+7% YoY)
- Borrowings: N206.5 billion (+114% YoY)
- Money and Money Equivalents: N411.8 billion (-2.5% YoY)
Commenting on the outcomes, Mr. Adegbite Falade, Chief Government Officer of Aradel, acknowledged:
“This efficiency reaffirms our constant monitor file of development and worth creation even in a dynamic working setting. As we rejoice 20 consecutive years of uninterrupted manufacturing, we stay pleased with how far now we have are available constructing a totally built-in vitality firm anchored on operational excellence, disciplined development technique and prudent monetary administration.”
Key Drivers
The sturdy income development was largely pushed by a rise in manufacturing throughout Aradel’s core enterprise segments:
- Crude oil manufacturing grew by 25%, averaging 15.3kbbls/day, whereas fuel manufacturing rose by 41% to 50.6mmscf/day.
- Refined merchandise additionally skilled a 40% enhance, totaling 235.7 million litres.
These operational enhancements helped the corporate seize larger gross sales volumes regardless of fluctuating world vitality costs.
Price:
Aradel’s Price of Gross sales stood at N304.1 billion for the interval, up from N166.8 billion in 9M 2024, reflecting a better price construction pushed by elevated manufacturing.
- As manufacturing ranges rose throughout oil, fuel, and refined merchandise, the related prices, together with labor, upkeep, and supplies, naturally adopted go well with.
- Moreover, the corporate confronted elevated depreciation bills tied to its rising asset base.
Gross revenue
Regardless of the rise in price of gross sales, gross revenue rose to N234.7 billion, reflecting an 11% enhance from N210.8 billion in 2024.
- This development in gross revenue, nevertheless, was considerably tempered by the drop in gross revenue margin, which decreased to 44% from 56% within the earlier yr.
- The decline in margin was primarily pushed by decrease realized crude oil costs and the upper working prices, which ate into the effectivity gained from the rise in income.
Thus, whereas income development was a key contributor to the revenue enhance, the affect of rising prices on the margin couldn’t be totally offset.
Working bills:
Greater working bills exerted some stress on the working revenue, which noticed a slight lower of 1%, settling at N167.5 billion in comparison with N169.1 billion in 2024.
Web finance price:
Excessive finance prices contributed to a web finance price of N6.0 billion, up from a web earnings of N1.2 billion within the earlier yr.
- Aradel’s finance earnings for 9M 2025 elevated to N15.4 billion, up from N10.3 billion in 9M 2024, pushed by larger curiosity earnings from its investments.
- On the flip aspect, finance prices surged to N21.4 billion from N11.5 billion, reflecting larger curiosity bills on borrowings.
Stability sheet
Aradel’s complete property rose by 12%, reaching N1.96 trillion as of thirtieth September 2025, up from N1.75 trillion on the finish of 2024.
- The rise in complete property was pushed by the expansion in funding in associates, significantly in upstream and midstream vitality initiatives, which contributed to the expansion in property.
On the legal responsibility aspect;
- Whole borrowings elevated by 114%, reaching N206.5 billion.
- Shareholders’ fairness grew by 7% to N1.5 trillion, from N1.4 trillion, supported by sturdy retained earnings, which stood at N543 billion from N395 billion as of December 2024
Backside line
Aradel Holdings’ 9M 2025 outcomes spotlight the corporate’s potential to develop income and enhance profitability, regardless of dealing with larger prices and finance bills.
Sturdy manufacturing development in oil, fuel, and refined merchandise led to sturdy income efficiency, whereas the rise in price of gross sales and working bills had a moderating impact on gross and working margins.
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