TotalEnergies Marketing Nigeria Plc has set its sights on a N2.41 billion profit for the first quarter of 2025, signaling strategic financial positioning in the oil and gas sector. The company’s projections, detailed in a profit and loss forecast filed with the Nigeria Exchange Limited on Monday, reflect a careful balance of growth and cost management.
The oil and gas giant expects a gross profit of N35.47 billion, driven by anticipated revenue of N213.91 billion and cost of sales amounting to N178.44 billion. Operating profit is forecasted at N11.32 billion, though rising finance costs, projected at N7.67 billion, are expected to significantly weigh on overall profitability. Consequently, the company’s profit before tax is estimated at N3.65 billion.
On cash flow, TotalEnergies anticipates a dip in its cash and cash equivalents by N10.77 billion by the end of March 2025, primarily due to N42.68 billion in net outflows from financing activities such as loan repayments and interest on overdrafts. However, the company forecasts a robust cash inflow of N31.92 billion from operating activities, despite minimal returns from investing activities and no tax payments within the quarter. The company has however projected a minimal net cash inflow of just N18,157,000 from investing activities, due to modest investments in property, plant, and equipment.
Globally, TotalEnergies is strengthening its investment outlook in Nigeria. The company’s President and CEO, Patrick Pouyanne, reaffirmed this commitment, stating that the firm is prepared to invest billions of dollars in the country, including participation in the ongoing oil bid round.