Lagos, Nigeria – Eterna Plc reported a pre-tax profit of N6.8 billion (approximately $4.35 million) for the year ended December 31, 2025, marking a 52.96 percent increase from N4.48 billion recorded in 2024, driven by foreign exchange gains and lower finance costs.
Okay News reports that the fourth quarter drove much of the growth, contributing N5.48 billion in profit, a 72.52 percent jump from N3.17 billion in Q4 2024, as quarterly sales rose to N89.6 billion. Full-year revenue stood at N302.5 billion, slightly down from N313.6 billion in 2024, with fuel sales accounting for 86.56 percent of turnover, followed by lubricants and other products.
Profitability strengthened despite softer revenue, supported by a swing from a N15.7 billion net exchange loss in 2024 to a N107.6 million gain in 2025, while finance costs shrank to N2.4 billion from N7.69 billion. Other income was largely driven by a one-off N8.7 billion gain on debt extinguishment, which helped cushion weaker operating margins after cost of sales rose to N290 billion from N273.6 billion.
Gross profit declined 68.84 percent to N12.4 billion as cost pressures intensified, while operating profit fell 67.15 percent to N9.1 billion. Administrative expenses climbed 33.70 percent to N12.5 billion, though this was partly offset by lower selling costs. Profit after tax rose 69.31 percent to N2.2 billion, with earnings per share increasing to N1.75 from N1.03.
On the balance sheet, total assets rose 38.65 percent to N93.4 billion from N67.4 billion, driven mainly by inventories which surged to N59.14 billion. Higher borrowings lifted total liabilities 37.99 percent to N86.3 billion, while retained earnings rebounded to N685.6 million from a N1.5 billion loss in 2024. Cash and cash equivalents jumped 190 percent to N4.7 billion from N1.6 billion.
As of the trading day ended February 23, 2026, shares of Eterna Plc closed at N32.50, reflecting a 5.35 percent month-to-date gain. The stock is up more than 14 percent year-to-date, supported by sustained bullish sentiment across the oil and gas sector. The improved profitability driven by FX gains and lower costs positions the company for continued momentum. Sustained FX gains will depend on exchange rate stability in the coming quarters.
