Transcorp Power Reports Resilient H1 2026 Performance Amid Power Sector Challenges
Transcorp Power Plc, one of the power subsidiaries of Africa’s leading listed conglomerate, Transnational Corporation Plc, announced its unaudited financial results for the six months ended June 30, 2026, demonstrating resilience despite significant operational challenges arising from recurring transmission infrastructure vandalism.
The company posted about N55 billion in pre-tax profit in the first half of the financial year 2026, maintains posiitve outlook for the second half of 2026.
In its regulatory disclosure submitted to the Nigerian Exchange (NGX) on Friday, the power-generating company revealed that it maintained a strong financial position despite declines in revenue and profitability compared with H1 2025.
The company’s revenue declined to N181.97 billion at the end of the first half of 2026, an amount which is 11.58% below the N205.81 billion reported in the equivalent period in 2025.
In its earnings release, the company told the Nigerian Exchange that its total assets grew by 9.9%, from ₦563.48 billion to ₦619.02 billion, while shareholders’ funds rose by 3.2%, from ₦ 183.40 billion to ₦ 189.34 billion.
Transcorp Power reported that its retained earnings rose by 6.4%, reflecting continued value creation and earnings retention. The increase in receivables and borrowings largely drove the expansion in the balance sheet during the period.
Commenting on the performance, MD/CEO, Transcorp Power Plc, Peter Ikenga, comments: “Our H1 2026 performance is a reflection of the resilience of our business operations despite significant sector-wide existential challenges.
“Regrettably, recurring transmission line vandalisation materially constrained our ability to evacuate available generation capacity. Nonetheless, we continued to deliver strong profitability, maintain operational efficiency, and strengthen our balance sheet.
“We remain committed to working with relevant stakeholders to put an end to transmission line vandalisation and to further improving operational performance, power generation supply reliability, and creating sustainable value for our shareholders”.
Transcorp Power CEO said the company remained highly confident that it will recover lost ground in H1 2026 and finish FY 2026 stronger than FY 2025.
Alsom Chief Finance Officer, Transcorp Power Plc, Dr Evans Okpogoro said: “Our half-year results show sustained operating discipline in a period of moderated revenue.
“While revenue stood at ₦181.97 billion and Profit After Tax at ₦38.50 billion, the quality of our earnings improved across every efficiency metric. Gross margin expanded to 38.4% from 34.7% in H1 2025.
“Operating margin increased to 30.6% from 28.5% in 2025, and Profit Before Tax margin increased to 30.2% from 28.5% in 2025. These gains reflect our cost optimisation efforts and disciplined financial management, positioning us to continue delivering sustainable value for our shareholders.”
