Eterna Plc, one of Nigeria’s leading integrated energy companies, has maintained a strong financial position by posting a profit before tax of N1.6 billion for the first half of 2025. This marks a solid recovery for the company, following a pre-tax loss of N3.57 billion recorded in the same period of 2024.
According to the company’s unaudited financial results, revenue rose to N157.7 billion, representing a 7% increase compared to N147.5 billion in the first half of 2024. The company attributed the rise to improved operational efficiency and strategic market moves that helped it navigate the challenges in the downstream oil sector.
Gross profit stood at N6.9 billion, with a gross profit margin of 4%. Though the margin remained tight, it reflects the full impact of Nigeria’s deregulated fuel market, which has reshaped pricing and competition in the energy sector since fuel subsidy removal.
Eterna also reported an operating profit of N2.34 billion, supported by an additional income of N575 million. This is a notable turnaround, considering the N14.5 billion foreign exchange loss the company suffered during the first half of 2024.
After deducting a tax expense of N995 million, the company recorded a net profit of N574 million. Earnings per share improved significantly, rising to N0.44 from a loss per share of N3.71 in the same period last year.
Commenting on the company’s performance, the Managing Director and Chief Executive Officer of Eterna Plc, Mr. Olumide Adeosun, praised the company’s ability to stay agile amid a constantly evolving operating environment.
“Our performance shows how flexible we’ve become in adjusting to the changing downstream sector. It also highlights our focus on generating new sources of revenue, especially in the lubricants segment. We’ve remained competitive by applying strict cost discipline,” Adeosun said.
He further noted that the management team is aligned with the right strategies to deliver returns to shareholders, even as market conditions continue to shift under deregulation.
Eterna Plc is actively involved in several segments of the energy value chain, including retail fuel marketing, aviation fueling, liquefied petroleum gas (LPG) distribution, lubricants, and commercial fuel sales. The company says it is committed to expanding its market presence and deepening operational efficiency as part of its long-term strategy.
In line with Nigeria’s energy transition agenda, Eterna Plc also plans to increase its investment in clean energy solutions and digital transformation. The company said these steps will not only boost efficiency but also ensure sustainability and support for the country’s broader economic growth goals.
Eterna has been in business for over 30 years and has built a strong reputation in the Nigerian energy space. Its continued profitability in a challenging market is seen by analysts as a positive sign for investors and stakeholders looking for stable returns from the oil and gas sector.
With the second half of 2025 ahead, the company said it remains focused on increasing shareholder value, exploring more strategic partnerships, and leveraging technology to drive smarter operations.
