TotalEnergies Marketing Nigeria Plc has projected a profit of N2.41bn for the first quarter of 2025.
This was disclosed in its forecasted statement of profit or loss and other comprehensive income, which was filed on the Nigeria Exchange Limited on Monday.
The oil and gas company anticipates a gross profit of N35.47bn after accounting for a cost of sales of N178.44bn. Operating profit for the quarter is forecasted at N11.32bn; however, the company’s finance costs are expected to negatively impact profitability.
With a forecasted net finance cost of N7.67bn, TotalEnergies Marketing Nigeria is projected to see its overall profit before taxation stand at N3.65bn.
On the cash flow front, the company expects a decrease in cash and cash equivalents by N10.77bn, taking the total at the end of March 2025 to N136.68bn, down from N125.91bn at the end of December 2024. This is primarily due to net cash outflows of N42.68bn from financing activities, including loan repayments and interest paid on overdrafts.
TotalEnergies has also forecasted a cash inflow of N31.92bn from operating activities, with no taxes paid during the period. However, the company has projected a minimal net cash inflow of just N18,157,000 from investing activities, due to modest investments in property, plant, and equipment.
The PUNCH reported that the President/Chief Executive Officer of TotalEnergies Worldwide, Patrick Pouyanne, said the company was ready to invest billions of dollars in Nigeria by participating in the ongoing oil bid round in the country.
