Conoil Revenue Slumps 77% to ₦2bn Regardless of ₦302bn Income

Conoil Plc recorded a pointy decline in earnings for the 2025 monetary yr with revenue falling steeply regardless of solely a modest drop in income.

Income declined by 6.6% to ₦301.72 billion in 2025 from ₦323.13 billion in 2024 on the again of softer volumes and pricing pressures throughout petroleum product gross sales.

Revenue earlier than tax dropped sharply to ₦2.53 billion, in contrast with ₦11.00 billion within the prior yr, representing a 77.0% year-on-year decline.

The weaker efficiency factors to substantial margin compression and better working pressures in the course of the interval.

Tax expense decreased to ₦518.17 million, down from ₦2.23 billion in 2024, according to decrease taxable revenue. Nevertheless, this did little to cushion the general earnings decline.

Revenue for the yr fell to ₦2.01 billion from ₦8.77 billion within the earlier yr, translating to a 77.1% contraction.

Earnings per share declined to 290 kobo, in contrast with 1,264 kobo in 2024.

Conoil didn’t declare a dividend for the 2025 monetary yr, in contrast with a 350 kobo dividend paid within the prior yr, reflecting a extra conservative payout stance amid weaker profitability.

Shareholders’ funds declined barely to ₦39.07 billion from ₦39.49 billion, whereas retained earnings eased to ₦34.90 billion from ₦35.32 billion. Internet property per share stood at 5,630 kobo, marginally decrease than 5,691 kobo recorded in 2024.

The 2025 outcomes spotlight the earnings sensitivity of downstream oil entrepreneurs to margin dynamics and value pressures, even when income stays comparatively resilient.