In 2024, Seplat led in earnings per share value, while Aradel Holdings recorded the largest increase of 361%

Key Takeaways:

  • Seplat Energy recorded the highest EPS in 2024 at ₦385.61, up from ₦92.75 in 2023.
  • Aradel Holdings posted the strongest growth, with a 361% increase in EPS from ₦12.37 to ₦57.03.
  • Eterna PLC reversed its negative EPS in 2023, reporting ₦1.03 in 2024.
  • All listed companies reported positive earnings in 2024, compared to 2023.
  • Three companies grew their EPS by more than 200%.

In 2024, Nigeria’s oil and gas sector saw a broad-based rebound in earnings performance, with the listed companies reporting positive earnings per share (EPS), a notable improvement from the prior year. Seplat Energy led in absolute EPS value, rising sharply to ₦385.61 from ₦92.75 in 2023.

However, Aradel Holdings stood out for its exceptional growth, increasing EPS by 361% to ₦57.03. Eterna Plc also made a significant turnaround, shifting from a loss in 2023 to a positive EPS of ₦1.03.

Other players, including TotalEnergies, MRS Oil, Oando, and Conoil, all recorded year-on-year EPS gains, reflecting stronger profitability, improved cost efficiency, and a more favourable operating environment.

Source:

NGX, Company’s Financial Report

Period:

2024
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