Aradel Holdings Plc has reported a pretax profit of N124.1 billion for the second quarter of 2025, according to its latest financial results filed with the Nigerian Exchange (NGX).
This represents a modest 1.10% rise from the N122.7 billion recorded in the same quarter of 2024, helping to push its half-year pretax profit to N191.3 billion — a notable 17.89% increase year-on-year.
Revenue for the second quarter edged up slightly by 0.63% to N168.2 billion. However, Aradel’s performance across the first six months of the year was more impressive, with revenue surging to N368 billion — a 37.18% increase over the same period last year. A breakdown shows that crude oil remained Aradel’s main revenue driver, contributing N232.7 billion or 63.2% of the total. Refined products generated N116.4 billion, while gas sales accounted for N18.8 billion.
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The company, however, encountered considerable cost pressures in Q2. Its cost of sales spiked by 32.23% to N90.3 billion, cutting gross profit by 21.23% to N77.8 billion. General and administrative expenses more than doubled, jumping 149.74% to N30.7 billion, dragging down operating profit to N55 billion — a steep decline from N114.7 billion reported in Q2 2024.
Nonetheless, strong financial income provided a cushion. Aradel’s finance income rose more than threefold to N8.3 billion, enough to offset finance costs of N5.6 billion. A sharp 70.4% drop in tax expense further strengthened the bottom line, allowing net income to grow by 36.14% to N112.1 billion from N82.4 billion in the same quarter last year.
Aradel’s balance sheet remains resilient. Total assets climbed to N1.8 trillion as of June 30, 2025 — a 3.48% increase. The company also posted healthy retained earnings of N444.1 billion, up from N395.2 billion in December 2024. Shares of Aradel closed at N514.10 on July 30, 2025.
While Aradel’s earnings highlight a stable and steady performance, another key player in Nigeria’s energy space, Seplat Energy Plc, delivered a record-breaking result that underscores the broader resurgence of the country’s energy industry.
Seplat, Nigeria’s leading indigenous energy firm listed on both the Nigerian Exchange and the London Stock Exchange, posted a stunning unaudited financial result for the six months ended June 30, 2025. The company’s revenue jumped to N2.167 trillion — a staggering 277% increase from the N575.1 billion posted in the same period last year. The historic leap was driven by ramped-up production, successful offshore expansion, and tight cost discipline.
Gross profit at Seplat more than tripled to N751.2 billion, up from N247.5 billion. Operating profit also soared to N601.2 billion, more than double the N285.2 billion recorded in the first half of 2024. Meanwhile, the company’s cash flow from operations nearly quadrupled, hitting N1.188 trillion compared to N308.2 billion in the prior year period.
According to Seplat CEO Roger Brown, “The company delivered first half production over 10% higher than the pro forma output in the same period last year, delivering on both our ambitions and supporting Nigeria’s goals of oil and gas production growth.”
Taken together, the strong performances of Aradel and Seplat indicate renewed momentum in Nigeria’s upstream oil and gas industry, despite global volatility and ongoing domestic challenges. The numbers show that strategic investments, efficiency gains, and market recovery are positioning indigenous companies to dominate the sector and deliver long-term value.