In its newly released unaudited financial results for the second quarter of 2025, Geregu Power Plc has posted an impressive pre-tax profit of N13.297 billion, representing a 61.14% year-on-year growth. The performance outperformed the company’s Q2 2025 forecast and reaffirmed its position as one of Nigeria’s leading power generation companies.
Combining the new figures with its Q1 earnings, Geregu Power’s half-year pre-tax profit stands at N26.311 billion, reflecting a 12.74% decline compared to the same period in 2024. The dip is mainly attributed to a weaker Q1, which saw a sharp drop in revenue.
For Q2 alone, revenue surged by 84.72%, hitting N55.875 billion, up from N30.249 billion in Q2 2024. Despite this strong quarterly boost, H1 2025 revenue grew by only 8.62% year-on-year to N87.633 billion, due to a significant 37% drop in Q1 revenue.
Energy sales remain the core revenue driver, contributing more than 64% of total income. However, input costs continued to weigh heavily on earnings. Gas supply and transportation alone accounted for over 55% of revenue, pushing the cost of sales up by 87% year-on-year to N32.128 billion for the quarter.
Geregu Power’s gross profit rose to N23.75 billion (+81.77% YoY), while profit from core operations climbed to N15.02 billion, up 73.7% from the same period last year. Net profit after tax for Q2 hit N9.75 billion, also up by 75.61% year-on-year.
Despite higher impairment losses (+196.83% YoY to N6.08 billion), the company’s earnings per share stood at N3.90, reflecting a 75.68% increase compared to Q2 2024.
As of June 30, 2025, Geregu Power’s total assets grew to N267.6 billion, marking a 9.91% rise from December 2024. The growth was driven by a 24% surge in trade and other receivables during Q2.
However, retained earnings and shareholders’ funds dipped slightly by 2.08% and 2.03%, respectively, reflecting higher cost pressures.
As of July 11, 2025, Geregu Power’s share price stood at N1,141.50 on the Nigerian Exchange, marking a modest 0.74% decline on the day. Nevertheless, the company’s stock has delivered a remarkable 188.22% year-to-date gain, highlighting strong investor confidence in Nigeria’s energy sector.
With H1 profits already at about 64% of full-year 2024 figures, Geregu Power Plc is well on track to potentially surpass last year’s performance, barring further cost escalations.
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