Aradel posts record Q1 profits as crude oil sales surge 

Aradel Holdings Plc has released its financial statements for the quarter ended 31st March 2025, reporting a pre-tax profit of N67.1 billion.

This reflects a 70.08% increase compared to N39.4 billion recorded in Q1 2024, supported by stronger crude oil revenue.

Total revenue for the quarter rose to N199.8 billion, up 97.57% from N101.1 billion in Q1 2024.

• Crude oil sales accounted for the largest share of revenue at N142.1 billion, followed by refined products at N53.3 billion and gas at N4.4 billion.
• In terms of market distribution, sales outside Nigeria contributed N142.1 billion, while domestic sales amounted to N57.7 billion.

Despite a steep rise in cost of sales, which more than tripled to N120.9 billion, up 214.26%, the group recorded a gross profit of N78.8 billion, a 25.88% improvement from the previous year.

Administrative expenses also rose sharply, climbing 149.21% to N15.9 billion. Nevertheless, Aradel’s core operational profit stood strong at N63.5 billion, representing a 79.14% year-over-year increase.

• Finance income for the quarter reached N4.1 billion, up from N3.2 billion in Q1 2024.
• However, finance costs also increased significantly to N5.4 billion, a 62.67% jump year-on-year.

On the balance sheet, Aradel Holdings reported total assets of N1.8 trillion, up 4.72% from the prior year.

• Retained earnings also grew, rising 8.54% to N428.9 billion.

Key Highlights: 

• Revenue: N199.8 billion, +97.57% YoY
• Cost of Sales: N120.9 billion, +214.26% YoY
• Gross Profit: N78.8 billion, +25.88% YoY
• General and Administrative Expense: N15.9 billion, +149.21% YoY
• Operating Profit: N63.5 billion, +79.14% YoY
• Pre-tax Profit: N67.1 billion, +70.08% YoY
• Total Assets: N1.8 trillion, +4.72% YoY
• Retained Earnings: N428.9 billion, +8.54% YoY

As of the trading day ended 28th April 2025, shares of Aradel are priced at N448, with a year-to-date performance of -25.08% in the Nigerian stock market.