TotalEnergies Marketing Nigeria Plc has posted an impressive financial performance for the full year ended December 31, 2024, with pre-tax profit rising by 140.35% to N42.2 billion, up from N17.5 billion in 2023. The oil marketing giant’s remarkable turnaround was largely attributed to robust revenue growth and a significant spike in other income.

Revenue Soars Past the Trillion Mark

TotalEnergies reported revenue of N1.04 trillion, a 63.83% increase from N635.9 billion in the previous year. A major chunk of this came from ‘White products’ — sales of Premium Motor Spirit (PMS), Automotive Gasoline Oil (AGO), and Aviation Turbine Kerosene (ATK) — which contributed N830.4 billion, while lubricants and other products made up the remaining N211.4 billion.

Profitability and Operational Highlights

Despite a steep 67.14% rise in cost of sales to N926.1 billion, TotalEnergies managed to boost its gross profit by 41.47% to N115.7 billion. The company also recorded a dramatic increase in other income, rising from N4.3 billion to N30.8 billion — a staggering 610.87% increase, largely driven by a writeback of accruals worth N25 billion.

While administrative expenses also spiked by 45.84% to N64.7 billion, operating profit still climbed 158.06% to reach N61.8 billion, a significant jump from N23.9 billion in 2023.

Other key metrics include:

  • Total Assets: N471.1 billion (+25.59% YoY)
  • Retained Earnings: N74.9 billion (+33.99% YoY)

Rewarding Shareholders

In line with its strong earnings, the board of TotalEnergies proposed a final dividend of N40.00 per share, up from N25.00 in 2023 — a 60% increase, signaling strong shareholder value creation.

Market Performance

Despite stellar earnings, TotalEnergies’ share price closed at N679.70 on April 4, 2025, reflecting a 2.62% year-to-date decline from its opening price of N698. This comes after a bullish 2024, during which the stock delivered an 81.30% YtD gain, hinting that current investor sentiment may be influenced by broader market dynamics rather than company fundamentals.

TotalEnergies Marketing Nigeria’s 2024 performance stands as a testament to strategic efficiency and operational resilience, even in the face of rising costs. While challenges like increased administrative expenses persist, the company’s ability to maintain strong margins and deliver shareholder value through generous dividends sets a positive tone heading into 2025.