*Drives drove debt reduction by 90.2% to ₦46.5b
WorldStage– Aradel Holdings Plc , Nigeria’s leading integrated indigenous energy company has announced its unaudited half year results for the period ended 30 June 2026 with revenue of ₦2,491.5 billion and EBITDA of ₦1,389.2 billion.
This translated to an EBITDA margin of 55.8%, reflect production of 25.2 mmboe and sustained gas offtake at 503.2 mmscf/d.
Mr. Adegbite Falade, Chief Executive Officer in a statement said the Group delivered a strong first-half performance.
“Refined output strengthened through the period, with second-quarter volumes of 67.5 million litres, 15% above the first quarter, as measures to secure feedstock supply and restore plant availability took effect,” he said.
“A firmer price environment supported performance, generating net cash from operating activities of ₦975.6 billion and a closing cash balance of ₦1,716.6 billion. This drove the reduction in net debt to ₦46.5 billion at year end, from ₦475.1 billion in the prior year.
“Our priorities for the second half of the year are unchanged: optimising our enlarged portfolio and improving operational efficiency. Our enlarged portfolio provides more opportunities to generate stronger cash flow and returns for shareholders and unlocking that potential is our main focus. We reaffirm our full year production guidance of 110 – 140 kboepd and remain committed to operating responsibly in a changing energy landscape and to delivering lasting value for our stakeholders.”
