Seplat Energy Plc has announced its unaudited financial results for the nine months ended September 30, 2025, reporting a revenue of ₦3.356 trillion, a significant increase from the ₦1.071 trillion recorded in the same period last year.
The company’s gross profit rose sharply to ₦1.356 trillion compared to ₦531.5 billion recorded in the corresponding period of 2024.
Seplat declared a total dividend payout of 7.5 US cents per share for the period — consisting of a base dividend of 5.0 US cents and a special dividend of 2.5 US cents per share.
Cash generated from operations rose substantially to ₦2.152 trillion, up from ₦633.8 billion year-on-year, while operating profit climbed to ₦1.096 trillion from ₦411.3 billion in the same period last year.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at ₦1.715 trillion for the nine-month period, representing a sharp increase from ₦573.4 billion recorded in the first nine months of 2024.
Seplat’s average production for the period was 135,636 barrels of oil equivalent per day (boepd), marking an impressive 185 percent increase from 47,525 boepd in the same period last year and an 18 percent rise compared to pro-forma 2024 production. Third-quarter production averaged 137,888 boepd, a 1 percent increase over the second quarter of 2025.
The company reported the sale of its first Liquefied Petroleum Gas (LPG) cargo to the domestic market, a move aimed at enhancing local energy access and promoting clean cooking. Seplat also confirmed that its ANOH gas plant remains on track to deliver first gas in the fourth quarter of 2025.
Commenting on the performance, the company stated: “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.”
