TotalEnergies Marketing Nigeria Plc released its unaudited results for the period ended March, 31 2025, reporting a loss per share of N0.35, compared to earnings per share of N33.87 in first quarter of 2024.

The performance was driven by a decline in revenue and higher finance costs. For instance revenue declined by 17.9% year on year, driven by declines in revenue across all business segments, including Network, General Trade, and Aviation.

Market watchers expect TotalEnergies Marketing Nigeria’s performance to remain subdued, with sales volumes under pressure due to current market factors and slower growth in prices.

The decline in revenue was attributed to lower volumes, likely due to increased competition from the Dangote Refinery and its partners.

Other highlights of the result shows that Net finance costs increased by 216.3% year on year, following a surge in finance costs and a decline in finance income.

The company reported a loss after tax of N120.03 million, compared to a profit after tax of N11.50 billion in first quarter of 2024.