TotalEnergies Marketing Nigeria Plc released its unaudited financial results for the period ended June 30, 2025, showing a loss per share of N8.06 compared to earnings per share (EPS) of N26.71 in second quarter of 2024.
This decline in earnings according to oil and gas industry analysts is attributed to a 22.2% drop in revenue and higher net finance costs.
Key highlights of the company performance shows that revenue dropped by 22.2%, driven by broad based declines across business segments, including Network, General Trade, and Aviation.
Market watchers noted that the company faced increased competition from the Dangote Refinery, which limited product offtake from TotalEnergies’ retail outlets and B2B channels.
Net finance costs increased by 138.2% to N6.16 billion, reflecting a 65.5% increase in finance costs.
The company recorded a loss before tax of N2.81 billion, compared to a profit before tax of N13.73 billion in second quarter of 2024.
However, TotalEnergies’ performance is expected to remain subdued through the remainder of the year due to persistent competitive pricing pressures.
The company’s strategy to navigate these challenges will be crucial in determining its future performance.