Aradel Holdings Grows Profit by 40.2% to N146.4 Billion

Aradel Holdings Grows Profit by 40.2% to N146.4 Billion

Aradel Holdings Plc. profit rose by 40.2% year on year to N146.4 billion from N104.4 billion in the equivalent period in 2024, according to details in its unaudited half year results for the period ended 30 June 2025.

The strong performance was supported by solid growth in revenue. The company’s unaudited results showed that revenue increased by 37.2% to N368.1 billion in the first half of 2025 from N268.3 billion in the first half of 2024.

This was driven by 36.0% increase in export crude oil revenue driven by increased production levels, improved utilisation of the Trans Niger Pipeline (TNP), minimal crude losses and additional value from the Alternative Crude Evacuation (ACE) system.

The company said this resulting in higher crude oil sales of 2.04 mbbls in H1 2025, a sharp increase from1.46 mbbls.

However, Aradel Holdings revealed that its realised crude oil price (exported) per barrel dropped to $73.6 from  $87.5 in 12 months. It recorded 42.6% increase in refined products revenue to N116.5 billion from N81.7 billion in H1-2024 due to higher sales volume of 165.3 mmltres.

Operating profit was N118.6 billion dropped by 21.1% year on year from N150.3 billion in the comparable period in 2024 due to higher business operating costs in the period and drop in the realised price of crude oil.

This happened despite higher sales across all products in H1 2025. Also, finance costs increased by 109.0% to N12.5 billion from N6.0 billion in H1-2024 driven primarily by additional borrowings to finance the SPDC acquisition.

Its finance Income increased by 49.2% in the period to N11.1 billion from N7.4 billion in the comparable period,  resulting from interest-bearing investments of cash and cash equivalents. Profit before tax settled at N191.3 billion, up by 17.9% from N162.3 billion one year ago.

Commenting on the results, the Chief Executive Officer of Aradel Holdings Plc, Mr. Adegbite Falade said, “The first half of 2025 was shaped by both opportunities and challenges for Nigeria’s oil and gas industry. Global geopolitical tensions continued to drive supply uncertainties and price volatility, while local operating conditions, from infrastructure to regulatory transitions, demanded resilience and adaptability.

“In the face of this dynamic landscape, our company remains focused and forward-looking. We recorded strong operational performance, driven by stable average production volumes. We made significant progress on our strategic growth agenda. We successfully completed the acquisition of equity interest in Chappal Energies Mauritius Limited.

“Furthermore, our recent investment in Renaissance Africa Energy Company, our deemed associate, has yielded positive returns, with our share of its performance featuring in Aradel’s books for the first time.

“ND Western Limited and Renaissance Africa Energy Company are expected to remain significant contributors to our bottom line from non-operated assets into the future. The consistent performance of our associate companies underscores the strategic value of our stake and supports our broader portfolio diversification objectives” #Aradel Holdings Grows Profit by 40.2% to N146.4 Billion Western Union, Zoona, Chipper Cash Launch Intl. Money Transfer Services