Oando - 9M 2025 unaudited results release
Oando PLC ("Oando" or the "Group") reported its unaudited nine-month results for 2025, highlighting a 59% increase in production to 38,121 boepd, driven by consolidation of NAOC assets and operational improvements. Revenue declined by 20% to ZAR2.5 trillion, mainly due to reduced gasoline imports following the Dangote refinery's ramp-up. Despite a gross profit drop of 42% to ZAR113 billion, profit after tax surged 164% to ZAR210 billion, supported by legacy recoveries and higher production volumes. The Group executed a share distribution programme, with the first tranche completed, delivering a 5.33% yield. Capital expenditure increased to ZAR75 billion, and the Group successfully refinanced its upstream facilities to support growth. Oando remains focused on strengthening its balance sheet, expanding production, and advancing its strategic investments across energy, clean energy, and mining sectors. information disseminated through SENS.
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