Eterna Plc recorded a profit before tax of N7.2 billion in its audited 2025 financial statements, marking a 62.22 per cent increase from N4.4 billion reported in the previous year.
The performance was driven largely by foreign exchange gains and lower finance costs, even as gross profit declined sharply.
Full-year revenue stood at N302.3 billion, representing a 3.59 per cent decline compared to N313.6 billion in 2024.
Fuel sales remained the dominant revenue source at N261 billion, followed by lubricants at N38.5 billion.
Cost of sales rose to N286.8 billion from N273.6 billion, causing gross profit to drop to N15.4 billion from N39.9 billion in the prior year.
However, a 9,370 per cent surge in other income and a swing to foreign exchange gains of N599 million helped preserve overall profitability.
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Finance costs declined by 30.8 per cent to N5.3 billion, further lifting profit before tax to N7.2 billion.
After accounting for a tax expense of N4.3 billion, profit after tax settled at N2.9 billion.
Total assets expanded significantly to N92.1 billion from N67.4 billion, driven largely by inventories which stood at N57.9 billion.
Total obligations rose to N84.4 billion, while the company reversed a N1.5 billion retained loss to a N1.3 billion profit, lifting total equity to N7.7 billion.
The stock trades at N34.90 per share, with a year-to-date gain of 22.46 per cent.
The results reflect the resilience of Eterna’s core fuel marketing operations despite pressure on gross margins from rising input costs.
