Oando Plc achieved a revenue increase of 412% between 2021 and 2024, while profits declined by 181% from 2022 to 2024, despite a positive profit after tax in 2024

Key takeaways:

  • Despite a profit after tax record of ₦65.5 billion in 2024, Oando Plc recorded a negative growth rate from 2015.
  • The company faced significant profit losses for several years, with notable improvements in 2021 and 2024.
  • Profit after tax fluctuated, with a notable improvement in 2024, reaching ₦65.49 million.
  • The year-on-year growth rate of 148% in 2022 indicates great market positioning.
  • From ₦477.1 billion in 2020 to ₦4.1 trillion in 2024, Oando Plc's revenues increased by 764%.

Over the years, Oando Plc has experienced substantial revenue growth, especially in 2024, with a 45% increase to over ₦4.12 trillion. While profit after tax has seen significant fluctuations, it returned to a positive figure in 2024, marking a 9% year-on-year increase.

Despite profit volatility, Oando Plc has demonstrated strong revenue growth in recent years, with a growth rate of 1,926% in 2024 compared to 2015.

Source:

Oando Plc Annual Report, NGX

Period:

2015-2024
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After the drop in 2020 due to COVID-19, Oando Plc's profit before tax has surpassed pre-COVID-19 levels
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