Lagos, Nigeria: 30 October 2025

Aradel Holdings Plc delivers strong and consistent 9M, 2025 results, declares interim dividend of ₦10.00, reinforcing growth and commitment to shareholder value

• 43% revenue growth year-on-year from ₦377.6bn to ₦538.8bn
• 25% increase in interim dividend to ₦10.00, up from ₦8.00 in prior year
• 20 years of uninterrupted production, underscoring operational excellence and resilience

Aradel Holdings Plc (“Aradel” or “Aradel Holdings” or the “Company” or the “Group”), Nigeria’s leading integrated energy company announces its unaudited results for the nine-month period ended 30 September 2025.

Aradel continues to deliver strong operational and financial performance, reflecting the resilience of its diversified energy portfolio. The Company maintained stable production across all business segments and achieved robust profit margins, supported by operational efficiency, disciplined capital management and solid returns from non-operated assets. Reinforcing its commitment to shareholder value, the Board of Directors has approved an interim dividend of ₦10.00 per share.

Operational Highlights

• Crude oil production averaged 15.3kbbls/day, up 25% from 12.3kbbls/day in 9M 2024, driven by improved well optimization, enhanced efficiency, and operational excellence.
• Gas production rose 41% to 50.6mmscf/day (9M 2024: 35.7mmscf) supported by new gas wells and enhanced recovery.
• 40% increase in production of refined products at 235.7mltrs in 9M 2025 compared to 168.9mltrs in 9M 2024, reflecting improved refinery uptime and expanded capacity.
• 8.5 million manhours without Lost Time Injury (LTI) achieved across all operated assets.
• In 9M 2025, Aradel expanded its drilling operations with two development rigs and two workover rigs, up from a single rig in 9M 2024, enabling greater exploration, appraisal, and production enhancement activities that reinforced its growth and operational efficiency.

Financial Highlights

• Revenue grew by 43% year on year to ₦538.8 billion (9M 2024: ₦377.6 billion), driven by higher crude oil, gas and refined-product sales volumes.
• EBITDA increased 10% to N261.4 billion (9M 2024: ₦238.1 billion).
• 57% increase in Profit before tax increased due to strong revenues and strong performance of associate companies.
• Cash at bank stood at ₦399.5 billion (9M 2024: ₦411.8 billion), excluding ₦12.3 billion restricted cash, maintaining a healthy balance sheet position.

CEO Statement

“The Company continues to demonstrate the strength and resilience of its business model, delivering another solid performance for the nine months ended 30 September 2025. This performance reaffirms our consistent track record of growth and value creation even in a dynamic operating environment.

As we celebrate 20 consecutive years of uninterrupted production, we remain proud of how far we have come in building a fully integrated energy company anchored on operational excellence, disciplined growth strategy and prudent financial management.

Since our landmark listing on the Nigerian Exchange in October 2024, we have continued to deliver on our promise of sustainable value creation and upholding the highest standards of corporate governance. Our nine-months 2025 results reflect the effectiveness of our strategic growth initiatives across the upstream, midstream, and downstream segments.

During this period, we completed the acquisition of Olo and Olo west marginal fields and reached an agreement for the acquisition of an additional 40% equity interest in ND Western Limited. These acquisitions further strengthen our strategic position within Nigeria’s oil and gas landscape. The increased transparency and market visibility from our NGX listing have also deepened investor confidence, broadened our shareholder base, and positioned us for long-term growth.

Looking ahead, we remain focused on disciplined investments, strategic partnerships, and innovation to increase production, advance our energy-transition agenda and further diversify our revenue base. With clear strategy and strong fundamentals, we are confident in our ability to sustain growth and maximize value for our shareholders.”

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Click here to view the Q3 unaudited result