TotalEnergies Projects N2.2bn Q4 Loss, Widening Deficit
TotalEnergies Marketing Nigeria Plc has forecast a steep post-tax loss of N2.2 billion for the fourth quarter of 2025, significantly worse than the N543.1 million deficit it had projected for Q3, whose results are still pending.
The outlook, filed with the Nigerian Exchange and endorsed by Executive Director Seye Samba, underscores the company’s struggle to rein in costs and achieve profitability this year. If the Q4 forecast materialises, TotalEnergies could end 2025 with an estimated N4.5 billion loss, given that its earlier projections have consistently missed targets.
Earlier in the year, the firm projected a N2.4 billion profit and earnings per share (EPS) of N7.10 for Q1, but instead reported a N120 million loss and EPS of negative N0.35. In Q2, it expected a N1.4 billion profit with EPS of N4.1, but actual results showed a staggering N2.7 billion loss and negative EPS of N8.07. Q3 projections suggested a modest N543.1 million profit, but analysts remain sceptical.
The company’s poor performance has been attributed to ballooning administrative expenses. In Q1, such costs hit N17.7 billion—up 22.7 per cent year-on-year—driven by staff expenses (N6.4 billion), management and technical fees (N2.6 billion), consultancy (N2.2 billion), and other charges. The situation worsened in Q2, when administrative expenses jumped to N21.3 billion, well above the forecast of N15.6 billion.
Finance costs have further deepened the strain. In Q1, bank overdraft interest soared to N6.7 billion from N1.8 billion the year before, pushing finance costs to N6.8 billion, which erased profits and left the company with a post-tax loss. Q2 followed the same trend, as finance costs climbed to N7.1 billion while finance income was just N989.9 million, culminating in a N2.7 billion loss.
Unless TotalEnergies takes stronger measures to curb expenses and manage its financing structure, analysts fear the company could extend its streak of quarterly losses into 2026.
