TotalEnergies Marketing Nigeria Returns to Profit With N5.84bn as Revenue Hits N661.92bn

TotalEnergies Marketing Nigeria Plc recorded a profit after tax of N5.84 billion for the nine months ended September 30, 2026, reversing a loss of N14.10 billion reported in the corresponding period of 2025.

The petroleum marketing company disclosed the turnaround in its unaudited financial statements approved by the Board of Directors on October 23, 2026.

Revenue increased by 12.7% to N661.92 billion from N587.59 billion, representing an additional N74.33 billion in sales during the period.

Profit before tax stood at N8.02 billion compared with a loss of N11.92 billion recorded in the corresponding period of 2025.

The improvement represents a N19.94 billion turnaround in pre-tax earnings, while profit after tax improved by N19.95 billion.

The return to profitability also lifted earnings per share to N17.21 from a loss per share of N41.54 in the previous year.

The company reported the improved earnings alongside an expansion in its balance sheet, with total assets increasing by 9.7% to N426.31 billion as of September 30, 2026, from N388.55 billion at the end of December 2025.

Current assets rose to N349.04 billion from N310.64 billion, supported by higher trade receivables and cash balances.

Cash and cash equivalents increased by 25.2% to N56.06 billion from N44.78 billion, while trade and other receivables rose to N165.23 billion from N129.58 billion.

However, inventories declined to N123.54 billion from N133.46 billion, indicating a reduction in the value of stock held during the period.

Total loans and borrowings decreased to N81.76 billion from N84.67 billion, representing a reduction of N2.91 billion.

Despite the improvement in earnings and cash balances, trade and other payables increased to N270.40 billion from N236.53 billion, reflecting higher outstanding obligations to suppliers and other creditors.

Shareholders’ equity strengthened to N53.38 billion from N47.54 billion at December 2025, supported by the company’s return to profitability.

The financial statements also showed that TotalEnergies Marketing Nigeria maintained a workforce of 403 employees as of September 2026, compared with 411 in the corresponding period of 2025.

The company’s recovery marks a significant improvement from the losses recorded a year earlier, with stronger revenue and positive earnings contributing to its improved financial position.

However, the increase in trade receivables and outstanding payables remains an important consideration in assessing the company’s working capital position.