Conoil Plc has reported a revenue earlier than tax of N728 million for the third quarter (Q3) ended 30 September 2025, a pointy 85.50% year-on-year decline from N5.02 billion posted throughout the identical interval in 2024.
This contributed to a steep 88% year-on-year decline within the nine-month pre-tax revenue, which fell to N1.88 billion from N15.24 billion for a similar interval final 12 months.
In response to the unaudited monetary outcomes launched on November 1, 2025, on the Nigerian Inventory Trade (NGX), income additionally suffered a notable decline.
- Q3 income decreased by 12.22% year-on-year to N60.18 billion, which additionally dragged the nine-month income down by 18.18% to N203.83 billion.
Key highlights (Q3 2025 vs. Q3 2024)
- Income: N60.18 billion (-12.22% YoY)
- Value of Gross sales: N54.86 billion (-9.42% YoY)
- Gross Revenue: N5.31 billion (-33.8% YoY)
- Finance Prices: N2.13 billion (+744% YoY)
- Pre-Tax Revenue: N728 million (-85.5% YoY)
- Put up-Tax Revenue: N564 million (-86.8% YoY)
- Earnings per Share: 81 kobo (-86.3% YoY)
- Whole Property: N126.191 billion (+9.78%)
- Shareholders’ Funds: N40.96 billion (+3.71%)
Key drivers of efficiency
The corporate’s income was primarily pushed by its key enterprise segments: White Merchandise, Lubricants, and Liquefied Petroleum Gasoline (LPG).
- Nevertheless, all segments reported a dip in income, with essentially the most vital lower coming from the White Merchandise section, which incorporates petrol and kerosene, reflecting decrease gross sales volumes and a difficult market surroundings.
- The decline in income from this section led to the general 12.22% drop in Q3 income.
On value, the price of gross sales fell by 9.42% YoY to N54.86 billion, mirroring the decline in income.
Regardless of this discount, the corporate’s gross revenue margin additionally shrank to eight.8% in Q3 2025 from 11.7% in Q3 2024.
Working Revenue
Working revenue for the interval fell sharply by 35.8% YoY to N1.64 billion, with working margins additionally underneath stress from rising administrative and distribution bills.
- The corporate’s administrative bills elevated by 24% YoY, primarily because of inflationary pressures and better staff-related prices.
Finance prices
Finance prices surged dramatically by 744% YoY to N2.13 billion, primarily because of the vital rise in borrowings.
- Conoil’s complete borrowings reached N39.69 billion, up from N28.68 billion a 12 months earlier, as the corporate raised debt to handle working capital necessities.
Steadiness sheet
Whole belongings elevated by 11% YoY, largely pushed by a rise in commerce receivables and better inventories.
- The corporate’s commerce receivables grew by 82% to N76.21 billion, signaling challenges in amassing excellent funds, which can worsen liquidity pressures within the quick time period.
On the liabilities facet, borrowings elevated, reflecting the corporate’s must finance its operations amidst declining income.
- Shareholders’ funds grew by 3.7%, standing at N40.96 billion.
Market efficiency
Conoil started the 12 months with a share value of N387.20 however has confronted vital stress all year long.
As of Friday, October 31, 2025, the inventory closed at N190.70, marking a pointy decline of fifty.8% from the opening value.
Since October 21, 2025, Conoil’s share value has remained flat.