TotalEnergies targets N2.41bn profit in Q1

TotalEnergies targets N2.41bn profit in Q1

 

 

TotalEnergies Marketing Nigeria Plc has said it is projecting a profit of N2.41bn for the first quarter of 2025.

 

The forecast was made in its statement of profit or loss and other ancillary income, which was filed on the Nigeria Exchange Limited recently.

 

According to the projection, the multinational oil and gas company anticipates a gross profit of N35.47bn after accounting for a cost of sales of N178.44bn. Operating profit for the quarter is targeted at N11.32bn; however, the company’s finance costs are expected to negatively impact profitability.

 

With a forecast of net finance cost of N7.67bn, TotalEnergies Marketing Nigeria is projected to see its overall profit before taxation (PBT) stand at N3.65bn.

 

The cash flow projection is expected to decrease in cash and cash equivalents by N10.77bn, taking the total at the end of March 2025 to N136.68bn, down from N125.91bn at the end of December 2024. This is primarily due to net cash outflows of N42.68bn from financing activities, including loan repayments and interest paid on overdrafts.

 

TotalEnergies has also forecasted a cash inflow of N31.92bn from operating activities, with no taxes paid during the period. However, the company has projected a minimal net cash inflow of about N18,157,000 from investing activities, due to modest investments in property, plant, and equipment.

 

It would be recalled that the President/Chief Executive Officer of TotalEnergies Worldwide, Patrick Pouyanne, had said the company was poised to invest billions of dollars in Nigeria by participating in the ongoing oil bid round in the country.