Seplat Energy Plc, a Nigerian impartial vitality firm, has reported an increase in its income to N3.356 trillion for the 9 months ended Sept. 30, 2025.
This is in contrast with N1.071 trillion recorded in the identical interval of 2024. The vitality firm, listed on the Nigerian Exchange Ltd. and the London Stock Exchange, disclosed this in an announcement on Thursday.
The firm’s gross revenue elevated considerably to N1.356 trillion, in contrast with N531.5 billion posted within the corresponding interval of 2024. Its money generated from operations grew to N2.152 trillion from N633.8 billion year-on-year.
In the identical interval, working revenue rose to N1.096 trillion, up from N411.3 billion in 2024, and earnings earlier than curiosity, taxes, depreciation and amortisation (EBITDA) stood at N1.715 trillion, in opposition to N573.4 billion reported a 12 months earlier.
Seplat Energy declared a dividend of seven.5 US cents per share for the third quarter, consisting of a 5.0 US cents base dividend and a 2.5 US cents particular dividend. This represented a 63 per cent enhance quarter-on-quarter and 108 per cent year-on-year development.
The firm’s common every day manufacturing for the interval stood at 135,636 barrels of oil equal per day (boepd), representing a 185 per cent enhance from the 47,525 boepd achieved in the identical interval of 2024.
The firm mentioned its first Liquefied Petroleum Gas (LPG) cargo was bought to the home market through the interval, enhancing native vitality entry and selling clear cooking.
It added that the ANOH fuel plant remained on observe to ship first fuel within the fourth quarter of 2025.
According to Seplat, the manufacturing development was pushed by improved onshore output and powerful offshore efficiency, supported by the restoration of idle wells which added about 33,400 barrels per day in gross capability.
On sustainability, Seplat reported a 21 per cent discount in carbon emissions depth from its onshore belongings, bringing it right down to 25.2 kg CO₂ per barrel of oil equal (boe), whereas sustaining its goal to finish routine flaring by the top of 2025.
Financially, Seplat mentioned its unit manufacturing working value stood at $14.1 per boe, inside its steerage vary of $14 to $15. It additionally recorded adjusted EBITDA of $1.112 billion, representing a 190 per cent year-on-year development.
The firm mentioned its steadiness sheet remained robust, with money at {bank} totalling $579.8 million as at September 2025. Its web debt declined by 43 per cent to $386 million from $676 million within the earlier quarter.
Seplat confirmed that it had repaid and refinanced a few of its key services, together with the Westport senior reserve-based mortgage.
It has additionally absolutely repaid its 100 million greenback revolving credit score facility (RCF), leaving the 350 million greenback RCF undrawn and absolutely out there.
Looking forward, the corporate narrowed its 2025 manufacturing steerage to between 130,000 and 140,000 boepd, and its capital expenditure outlook to between $270 million and $290 million {dollars}, whereas sustaining its value steerage at $14.0 to $15.0 per boe.
Commenting on the outcomes, Roger Brown, Chief Executive Officer, Seplat Energy Plc, mentioned, “At our Capital Market Day (CMD) in September, we set out our medium time period imaginative and prescient for the Company.
“Targeting 200 kboepd working curiosity manufacturing and $1 billion in cumulative dividends in our roadmap to 2030.
“As we strategy the primary anniversary of the MPNU acquisition, we’re clearly displaying our potential to function a enterprise at scale.
“We delivered a 3rd consecutive quarter of manufacturing development on the higher finish of manufacturing steerage, and we’re happy to have the ability to slim manufacturing to 130-140 kboepd.
“Our {financial} efficiency 12 months thus far has been extraordinarily sturdy, producing after tax money flows in extra of $1 billion, enabling important deleveraging to 0.27x ND/EBITDA, effectively beneath our goal ranges.
“In addition, whereas we anticipate some money outflow in 4Q 2025, our robust money technology 12 months thus far helps declaring a particular dividend of two.5 US cents/share, delivering a complete dividend to shareholders this quarter of seven.5 US cents/share.
“This is aligned with the brand new dividend coverage of returning an rising share of free money stream to shareholders, laid out on the CMD.
“We have continued the momentum into the ultimate quarter of the 12 months, making substantial progress up to now few days to ending routine flaring onshore, a dedication we now have made for 4Q 2025.
“And we expect to complete the PIA conversion process for our onshore business imminently, which will further support the delivery of our ambitious 2030 roadmap laid out at the CMD.” #Seplat Energy Records N3.4trn Revenue Growth in Nine Months#
