Seplat Energy Profit Surge Reaches N1.34 Trillion in Nine Months

Seplat Energy Profit Surge Reaches N1.34 Trillion in Nine Months, Declares Dividend

Seplat Energy reports a 52.75% increase in nine-month pre-tax profit to N1.34 trillion, driven by higher crude prices and production growth, while announcing a third-quarter dividend of $0.19 per share.

ValueDrive Post Editor Oct 29, 2026 2 min read

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Introduction

Seplat Energy has delivered a strong nine-month performance, with pre-tax profit jumping over 52% to N1.34 trillion. The results reflect robust crude oil prices, higher production, and strategic cost management, marking a significant milestone for the Nigerian energy firm.

What Happened

The company reported N1.34 trillion in pre-tax profit for the nine months ended 30 September 2026, up 52.75% from N878.99 billion in the same period of 2025. Revenue increased 12.51% to N3.78 trillion, driven by stronger crude oil and condensate sales, which accounted for 89.53% of total income. Profit after tax surged 142.47% to N355.55 billion, while earnings per share rose to N580.72 from N240.18.

Why This Matters

The impressive profit growth underscores Seplat Energy's resilience in a volatile commodity environment. Higher crude prices and the ramp-up of the ANOH gas processing facility boosted results, even as lifting volumes declined slightly. The declaration of a third-quarter dividend of $0.19 per share, including a special component, signals management's commitment to shareholder returns and reinforces confidence in the company's five-year growth roadmap.

Key Takeaways

Key financial highlights include pre-tax profit rising 52.75% to N1.34 trillion; revenue growing 12.51% to N3.78 trillion; profit after tax increasing 142.47% to N355.55 billion; and EPS climbing to N580.72. The board declared a Q3 dividend of $0.19 per share. Cost of sales increased 7.60%, but gross profit still expanded 19.75%. Adjusted EBITDA improved to N2.09 trillion, lifting the margin to 55%. Total assets declined slightly to N8.18 trillion, while net debt-to-EBITDA improved significantly.

Conclusion

Seplat Energy's nine-month results demonstrate strong operational execution and the benefits of higher energy prices. With dividend payments resuming and debt reduction progress, the company is well-positioned to sustain momentum through the remainder of the year. Investors should watch how offshore gas production resumes and impacts full-year guidance.