Seplat Energy's revenue surged by 137%, with profits increasing by 163% in 2024 compared to 2023

Key takeaways:

  • Seplat’s revenue steadily increased from ₦112.97 billion in 2015 to ₦1.65 trillion in 2024.
  • The difference between revenue and profit after tax in 2024 is notably broader than in previous years.
  • Profitability varied over the years, with losses recorded in 2016 and 2020 but consistent recoveries during other periods.
  • The year 2024 saw the company's peak revenue (₦1.65 trillion) and profit (₦214.25 billion).

Seplat Energy Plc has demonstrated impressive financial growth from 2015 to 2024. In 2015, the company reported ₦112.97 billion in revenue and a profit of ₦12.99 billion. However, the year 2016 proved to be tough, with Seplat facing a loss of ₦45.38 billion despite a revenue of ₦63.38 billion.

In 2017, Seplat raised its revenue to ₦138.28 billion and achieved a profit of ₦81.11 billion, which was six times the profit recorded in 2015. This positive trend persisted into 2018, with revenue climbing to ₦228.39 billion, although profit saw a minor decline to ₦44.87 billion—a 45% drop from 2017. In 2019, Seplat continued to perform well, generating revenue of ₦214.16 billion and profits of ₦85.02 billion.

During 2020, the COVID-19 pandemic era, revenue decreased to ₦190.92 billion, and the company incurred a loss of ₦30.71 billion. Despite these reductions, Seplat rebounded in 2021, securing ₦293.63 billion in revenue and ₦46.93 billion in profit.

Source:

Seplat Energy Plc, NGX

Period:

2015-2024
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