Seplat Energy PLC yesterday announced its unaudited results for the nine months ended 30 September 2025, reporting a revenue of N3.356 trillion for the period from N1071 trillion reported in the same period last year.
Its gross profit rose to N1.356 trillion from N531.5 billion Year-on-Year.
Dividend payout declared for the period was 7.5 US cents per share, consisting of 5.0 US cents per share base and 2.5 US cents per share special.
Cash generated from its operations for the period grew to N2.152 trillion from N633.8 billion Year-on-Year whilst operating profit rose to N1.096 trillion from N411.3 billion Year-on-Year.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) hit N1.715 trillion for the 9M period, representing a rise from N573.4 billion recorded in the nine months of 2024.
The Company’s 9M 2025 production averaged 135,636 boepd up 185% from reported 9M 2024 (47,525 boepd); its first Liquefied Petroleum Gas (LPG) cargo was sold to the domestic market, improving domestic energy access and supporting clean cooking; and ANOH gas plant on track to deliver first gas in 4Q 2025.
On the performance report, the company’s 2025 production in nine months averaged 135,636 boepd up 185% from reported 9M 2024 (47,525 boepd), and up 18% vs. pro-forma 9M 2024 production, while 3Q 2025 production averaged 137,888 boepd, a 1% improvement on 2Q 2025.
Commenting on the results, Roger Brown, Chief Executive Officer, Seplat Energy Plc, said: “At our Capital Market Day (CMD) in September, we set out our medium term vision for the Company, targeting 200 kboepd working interest production and $1 billion in cumulative dividends in our roadmap to 2030.
“As we approach the first anniversary of the MPNU acquisition, we are clearly displaying our ability to operate a business at scale. We delivered a third consecutive quarter of production growth at the upper end of production guidance, and we are pleased to be able to narrow production to 130-140 kboepd.
“Our financial performance year to date has been extremely robust, generating after tax cash flows in excess of $1 billion, enabling significant deleveraging to 0.27x ND/EBITDA, well below our target levels.
“In addition, while we anticipate some cash outflow in 4Q 2025, our strong cash generation year to date supports declaring a special dividend of 2.5 US cents/share, delivering a total dividend to shareholders this quarter of 7.5 US cents/share. This is aligned with the new dividend policy of returning an increasing share of free cash flow to shareholders, laid out at the CMD. “We have continued the momentum into the final quarter of the year, making substantial progress in the past few days to ending routine flaring onshore, a commitment we 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.”
