Eterna Plc has remained profitable, reporting a ₦1.6 billion profit before tax for the first half of 2025, according to its unaudited financial results.
Revenue rose to ₦157.7 billion, marking a 7% increase from ₦147.5 billion in the same period last year. The growth was largely driven by improved operational execution and strategic market positioning.
The company reported a gross profit of ₦6.9 billion, maintaining a stable 4% gross margin—reflecting the full impact of post-deregulation market dynamics. Operating profit reached ₦2.34 billion, supported by other income of ₦575 million. This represents a notable turnaround from the ₦14.5 billion foreign exchange loss recorded in H1 2024.
Eterna’s profit before tax stood at ₦1.57 billion, a sharp recovery from the ₦3.57 billion pre-tax loss posted during the same period last year. After accounting for a tax expense of ₦995 million, the company recorded a net profit of ₦574 million for the period.
Olumide Adeosun, Managing Director and CEO of Eterna Plc, commented:
“The company has remained agile and responsive amid the evolving downstream landscape. This performance underscores our focus on new revenue streams, competitiveness in the lubricants segment, and strict cost discipline. We are confident that our team is focused on the right priorities to deliver strong returns for investors.”
Earnings per share improved to ₦0.44, compared to a loss per share of ₦3.71 in the first half of 2024.