Aradel Holdings Reports ₦757.3 Billion Profit After Tax, Proposes ₦33 Per Share Dividend

Aradel Holdings Plc has announced a record-breaking financial performance for the 2025 financial year, reporting a profit after tax of ₦757.3 billion, representing a 192 percent increase from ₦259.1 billion recorded in the corresponding period of 2024.

The integrated energy company also posted a 20 percent increase in revenue to ₦699.4 billion, up from ₦581.2 billion in the previous year, driven by strong contributions from its crude oil, gas and refining businesses.

The impressive earnings performance came alongside a transformative expansion strategy that saw Aradel complete the acquisition of an additional 40 percent stake in ND Western Limited, increasing its effective equity interest in Renaissance Africa Energy Company to 53.3 percent.

The transaction significantly expanded the company’s reserves, production capacity and operational footprint.

According to the company, total assets surged by 466 percent to ₦9.9 trillion as of December 31, 2025, compared to ₦1.75 trillion recorded a year earlier. The increase reflects the consolidation of ND Western and the carrying value of Renaissance following the completion of the acquisition.

Operationally, Aradel maintained growth momentum across its upstream, gas and refining segments.

Crude oil production rose by 3 percent year-on-year to 14.1 thousand barrels per day, while gas production jumped 59 percent to 51.4 million standard cubic feet per day.

The company also achieved its highest-ever gas production rate of approximately 83.8 million standard cubic feet per day during the year.

Refinery utilization improved to 49 percent from 40 percent in 2024, with refined product output increasing by 18 percent to 313.4 million litres. Refined product sales climbed 26 percent to 302.9 million litres during the period.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) more than doubled to ₦815 billion, while operating profit surged 152 percent to ₦733.6 billion.

The company attributed the strong operating performance partly to a ₦217.1 billion gain on bargain purchase and a ₦393.2 billion translation gain arising from the ND Western and Renaissance business combinations.

Share of profit from associates also increased significantly by 246 percent to ₦109.5 billion, further supporting bottom-line growth.

Commenting on the results, Chief Executive Officer Adegbite Falade described 2025 as a defining year for Aradel, noting that the company’s strategic acquisitions have positioned it for materially larger-scale operations from 2026 onward.

Looking ahead, the company said its focus will be on integrating its expanded portfolio, increasing production levels, improving efficiency and diversifying revenue streams to drive long-term shareholder value.

Reflecting confidence in future earnings and cash flows, the Board of Directors proposed a final dividend of ₦23 per share. Combined with the interim dividend already paid, total dividend distribution for the 2025 financial year stands at ₦33 per share, representing a 26 percent increase in U.S. dollar terms compared to 2024.

The company ended the year with cash and cash equivalents of ₦1.5 trillion, compared to ₦411.8 billion in 2024, providing a strong liquidity position to support future growth initiatives and capital investments.