NewStats: 3,262,617 , 8,177,696 topics. Date: Tuesday, 03 June 2025 at 03:51 AM 3u44e

TotalEnergies Marketing Nigeria Plc has published its audited financial report for the period ended 31 December 2024, reporting a pre-tax profit of N42.2 billion.

This represents a 140.35% increase compared to the N17.5 billion pre-tax profit recorded in the previous year, driven by a rise in revenue.

The company’s full-year revenue increased from N635.9 billion reported in 2023 to N1.04 trillion, marking a 63.83% rise.

Of this revenue:
—White products, ’ which include sales of Motor Spirit (PMS), Automotive Gasoline Oil (AGO), and Aviation Turbine Kerosene (ATK), ed for N830.4 billion.

—Lubricants and other products contributed the remaining N211.4 billion.

—Sales costs also increased, rising to N926.1 billion, an increase from N554.1 billion.

—Despite this rise in costs, gross profit grew from N81.8 billion to N115.7 billion, reflecting a 41.47% increase.

—Other income rose to N30.8 billion, a significant 610.87% increase from the previous year’s N4.3 billion, largely due to a ‘Writeback of accruals’ amounting to N25 billion.

—On the downside, istrative expenses increased sharply to N64.7 billion, up from the N44.3 billion reported in 2023.

Source: https://nairametrics.com/2025/04/05/totalenergies-reports-140-35-surge-in-full-year-profit-as-revenue-sures-n1-trillion-recommends-n40-final-dividend/

I've noticed recently how foreign investors are feeling comfortable doing business in Nigeria....

God bless his excellency!

JASONjnr:
I've noticed recently how foreign investors are feeling comfortable doing business in Nigeria....

God bless his excellency!

Same old format

Una no dey tire?

BrodaBenad:


Same old format

Una no dey tire?

Haters will never see anything good..... you always criticize with your brsinledd zombie head.....

Change that money to dollars and you will see they are probably doing worse than they did in 2015.

Meanwhile the increase is driven by Nigerians’ blood who now have to pay more than double for the energy products that Total is selling

How plausible is this when TotalEnergies don't even have the $5 billion it requires to invest in the Mozambique Gas field and has to result in a lifeline from the US Bank that offered the French company $5 billion fews days ago to stay in business?

TotalEnergies is about to be caught in the web of diplomatic brouhaha between Europe and the US as the latter is contemplating pulling $5 billion given to TotalEnergy for expansion in Africa.

Let's hope it won't get to this.

Let them continue to enmass it,while the people are bearing the brunt

The company’s full-year revenue increased from N635.9 billion reported in 2023 to N1.04 trillion, marking a 63.83% rise.

The value of dollar to Naira at December 2023 was N850. So their income was roughly $750m in 2023.

Now, Dollar to Naira closed at N1700 at the end of 2024 but I'm going to use N1500 just to be nice.

This brings their 2024 income to $680m representing a $70m loss from the previous year of 2023.

Oil money!

Too much profit!

They are using the Dollar to Naira exchange rate to confuse the illiterates amongst Nigerians.

If they have made this much profit. They should state dollar profit in 2023 and the dollar profit in 2024.

All the major oil companies around the world had tepid net revenue for 2024. Mobil, Shell, Aramco, Eni, BP

If you buy a pencil for $2 when it was 400 naira thats 800 naira

You now sell it for $1 When it is 1500 Naira. You can either call it a $1 loss or a 700 naira profit.

But we all know Total oil sales is dollar denominated. Why are they reporting profit in Naira

Dont let them keep deceiving you. Let them announce the loss in dollars.

The company’s full-year revenue increased from N635.9 billion reported in 2023 to N1.04 trillion, marking a 63.83% rise.

Tinubu government will finish you people with manipulations. What they won't tell you is that 635.9 billion in 2023 is bigger than N1.04 trillion in 2024 in dollar value.

At consumers expense?

Banks, Oil companies reporting extraordinary profits indicates citizens are nothing but slaves finding it so hard to survive as cost of living has skyrocketed and most people can't take 3 square meal again per day. This implies that no one can save let alone invest. FG needs thinkers to save the poor masses

Kundus to them.
1 Trillion profit is no joke.

Some of their workers will soon go on strike to press for upward review of their pay

Since there is no price control businesses and companies fix outrageous without consistent purchasing power of individuals...

JASONjnr:

Haters will never see anything good..... you always criticize with your brsinledd zombie head.....

It's the audacity for me

APC ers do have anything to say about brains?

Wow!

NothingDoMe:
The value of dollar to Naira at December 2023 was N850. So their income was roughly $750m in 2023.

Now, Dollar to Naira closed at N1700 at the end of 2024 but I'm going to use N1500 just to be nice.

This brings their 2024 income to $680m representing a $70m loss from the previous year of 2023.

TotalEnergies chief ant, weldone 💪

Penguin2:
Change that money to dollars and you will see they are probably doing worse than they did in 2015.

Meanwhile the increase is driven by Nigerians’ blood who now have to pay more than double for the energy products that Total is selling

Any company with a profit above 120% in 2024 would still do better in dollar over 2023. Do the calculation yourself.

NothingDoMe:
The value of dollar to Naira at December 2023 was N850. So their income was roughly $750m in 2023.

Now, Dollar to Naira closed at N1700 at the end of 2024 but I'm going to use N1500 just to be nice.

This brings their 2024 income to $680m representing a $70m loss from the previous year of 2023.

What matters is their profit which beat the dollar devaluation no matter how you calculate it

The Naira lost approximately 233% of its value over the past year. An increase in revenue by 140% only shows that they didn't even make as much as they did in the previous fiscal year. It seems that Tinubu's plan, as the erudite Deloitte ant he purports to be, was to significantly devalue our currency so that the average number-illiterate nigerian would see the huge increase in local currency, that means nothing, as something laudable.

Both Totalenergies and Gtb made over 1 trillion. Should I say kundus to them too?

Acidosis:



Tinubu government will finish you people with manipulations. What they won't tell you is that 635.9 billion in 2023 is bigger than N1.04 trillion in 2024 in dollar value.

Apart from that, you have to be an investor to be able to read between the lines.
Yes, they generated 100% revenue compared to last year BUT what many don't know and what the media don't want them to know is that their cost of goods sold (COGS) is literarily close to 90% of revenue generated.
By the time you deduct all expenses to generate that revenue, you are left with little to nothing.
Just a meagre 3% on profit after tax.
I had their shares before but had to sell this january when i saw the 2024 financial report they released. To me, it was a waste of time and money. Had to buy more profitable company's shares.

Dougad:
The Naira lost 233% of its value over the past years. An increase in revenue by 140% only shows that they didn't even make as much as they did last year.

No, the naira moved from an average of 650 in 2023 to 1500 in 2024. That’s 130% depreciation not 233%.

The company’s full-year revenue increased from N635.9 billion reported in 2023 to N1.04 trillion, marking a 63.83% rise.
Sales costs also increased, rising to N926.1 billion, an increase from N554.1 billion.
TotalEnergies Marketing Nigeria Plc reporting a pre-tax profit of N42.2 billion represents a 140.35% increase compared to the N17.5 billion pre-tax profit recorded in the previous year, driven by a rise in revenue.


2024 revenue is 1.04 trillion, 2023 was 635.9b
Sales cost / cost of goods sold is 89% of revenue generated in 2024 while it was 87% in 2023 despite a 63% rise in revenue in 2024
Profit before tax in 2024 is just 4% while 2023 is 2.7% despite a whooping 140% increase.
By the time you factor in tax, profit left to investors is next to nothing.
Infact, total has little or no room for mistakes, emergencies or economic downturns or shocks. It will literarily enter loss.
Very very fragile company with no room to maneuver.

BrodaBenad:


Same old format

Una no dey tire?

Bring your own format nah

This is where I wanna be at

MadamExcellency:
How plausible is this when TotalEnergies don't even have the $5 billion it requires to invest in the Mozambique Gas field and has to result in a lifeline from the US Bank that offered the French company $5 billion fews days ago to stay in business?

TotalEnergies is about to be caught in the web of diplomatic brouhaha between Europe and the US as the latter is contemplating pulling $5 billion given to TotalEnergy for expansion in Africa.

Let's hope it won't get to this.

Even though they may be making huge profits in Nigeria, they cannot pull the required funds for investment in Mozambique from Nigeria as that would amount to capital flight which may attract serious penalties by the FG

Asonaijaaso:
They are using the Dollar to Naira exchange rate to confuse the illiterates amongst Nigerians.

If they have made this much profit. They should state dollar profit in 2023 and the dollar profit in 2024.

All the major oil companies around the world had tepid net revenue for 2024. Mobil, Shell, Aramco, Eni, BP

If you buy a pencil for $2 when it was 400 naira thats 800 naira

You now sell it for $1 When it is 1500 Naira. You can either call it a $1 loss or a 700 naira profit.

But we all know Total oil sales is dollar denominated. Why are they reporting profit in Naira

Dont let them keep deceiving you. Let them announce the loss in dollars.

Audit does not work that way.

The company is ed in Nigeria, so the financial have to be Naira denominated, it is when they are reporting as subsidiary to the parent company that they need to report in Dollars.

So when reporting as a Nigerian company which they are currently doing (because they are ed in Nigeria) they report in Naira. and to arrive at that profit, they must have already ed for loss in FX which is an allowable expenses.
Thus, TOtalenergies actually make that profit and even if they go on to convert the to dollar, it will still amount to profit.

several:
Audit does not work that way.
The company is ed in Nigeria, so the financial have to be Naira denominated, it is when they are reporting as subsidiary to the parent company that they need to report in Dollars.
So when reporting as a Nigerian company which they are currently doing (because they are ed in Nigeria) they report in Naira. and to arrive at that profit, they must have already ed for loss in FX which is an allowable expenses.
Thus, TOtalenergies actually make that profit and even if they go on to convert the to dollar, it will still amount to profit.

This logic is naive.
1. FX losses reduce taxable profit — but do not affect cash profit the same way.
2. Reporting profit in Naira in a hyper-devaluing currency is meaningless without purchasing power parity adjustment.
3. Translating profit to USD matters because dividends, expansion, and global valuation rely on hard currency, not worthless local notes.
4. They made “profit” on paper — but operational reality could be deteriorating if margins are FX-sensitive.
5. Comparing Naira profits to actual wealth creation is like celebrating monopoly money.

Big profits in a collapsing currency = Optical Illusion.

Numbers without context is the first sign of ing ignorance.

How can I buy shares from their company pls.

Modified: checked some comments and later realized that the news is just a gimmick. What's the essence of increased profit you declared you make 2024 which the value of less one you made in 2023 beat to the ground. Na them know .