Eterna Announces N5.88 Billion Profit for First Six Months

Eterna Plc has announced a notable increase in revenue and profitability for the second quarter and half-year ending June 30, 2026, attributed to enhanced performance across its operations.

n

The company's unaudited consolidated financial results reveal a 38 per cent rise in revenue to N217.31bn, up from N157.65bn in the corresponding period of 2025.

n

Gross profit has more than doubled to N15.99bn, with operating profit increasing to N8.78bn from N2.34bn, and profit before tax rising by 389 per cent to N7.67bn from N1.57bn in the same period of 2025.

n

Profit after tax has also seen a significant increase to N5.88bn from N573.81m, while earnings per share have improved to N2.69 from N0.44.

n

The company's financial position has shown improvement, with total assets amounting to N82.75bn as of June 30, 2026.

n

Cash and bank balances have risen to N20.36bn from N4.79bn as of December 31, 2025, while total liabilities have decreased to N51.22bn from N84.43bn.

n

Total equity has increased to N31.53bn from N7.77bn, indicating enhanced liquidity and capitalisation.

n

Dr. Jude Nwaulune, the Managing Director/Chief Executive Officer, stated that the results demonstrate the strength of the company's business and the impact of disciplined execution across its operations.

n

He further noted that the significant improvement in profitability and financial position provides a solid foundation for advancing the company's growth priorities.

n

According to Dr. Nwaulune, the successful Rights Issue has strengthened the company's balance sheet, resulting in a healthy leverage position, stronger equity, and improved net assets.

n

The company remains focused on expanding its retail, aviation, lubricants, and gas businesses, while improving operational efficiency and customer experience, and delivering sustainable value to shareholders and other stakeholders.

n

The company's full unaudited consolidated financial statements for the half-year ended June 30, 2026, are available on its website.