Aradel Holdings Plc · NSENG:ARADEL
Aradel — Q1 2026 Earnings Presentation
34 slides from Aradel's earnings presentation, Jul 6, 2026
Slide 1: Aradel Holdings Plc FY 2025 and Q1 2026 Investor Presentation
ARADEL HOLDINGS PLC FY 2025 AND Q1 2026 INVESTOR PRESENTATION 6 JULY 2026
Slide 2: Disclaimer
DISCLAIMER This presentation has been prepared by Aradel Holdings Plc (“Aradel Holdings” or the “Group” or the “Company”) solely to provide an overview of the Company and is supplied to recipients for their information and for use at the Company's presentation only. It may not be copied, reproduced,
Slide 3: Agenda
01 Key Highlights 02 Aradel at a Glance 03 Operational Review FY 2025 AND Q1 2026 INVESTOR PRESENTATION AGENDA 04 Financial Review 05 Strategy and Outlook Presented by: 06 Appendix ▪ Adegbite Falade, MD/Chief Executive Officer ▪ Adegbola Adesina, Chief Financial Officer 07 Contact ARADEL HOLDINGS PL
Slide 4: Key Highlights
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Slide 5: Key Highlights
KEY HIGHLIGHTS ARADEL ENTERS 2026 AS A MATERIALLY ENLARGED INTEGRATED ENERGY PLATFORM AVERAGE CRUDE OIL PRODUCTION (KBOPD) REVENUE (N’BILLION) ▪ FY 2025 established the enlarged Aradel Holdings through strong +268% +20% +265% 55.2 operating performance and strategic +3% 699.4 728.5 portfolio consoli
Slide 6: Aradel at a Glance
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Slide 7: Aradel at a Glance
ARADEL AT A GLANCE Nigeria's first listed fully integrated indigenous energy company — spanning Upstream, Midstream and Downstream, with the scale, reserves depth and three decades of operating history to deliver enduring value. Market Capitalisation Reserve Base Revenue Growth (CAGR) ₦5.5 trillion
Slide 8: Why Aradel is Uniquely Positioned for Long-Term Value Creation
WHY ARADEL IS UNIQUELY POSITIONED FOR LONG-TERM VALUE CREATION INDIGENOUS LEADERSHIP AT SCALE ASSET FOOTPRINT ACROSS THE NIGER DELTA One of Nigeria's leading indigenous integrated energy companies, with operating scale across upstream, gas and downstream sectors. INTEGRATED VALUE CHAIN Operations th
Slide 9: Operational Review
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Slide 10: FY 2025 Operational Performance
FY 2025 OPERATIONAL PERFORMANCE HIGHER GAS OUTPUT, IMPROVED EVACUATION RELIABILITY AND STRONGER SALES CONVERSION Crude oil production Gas production 5.2 ▲ 3% YoY mmbbls 18.8 ▲ 59% YoY bcf 18.8 5.2 5.0 11.8 FY 2025 FY 2024 FY 2025 FY 2024 4.1 mmbbls ▲32% 14.1 kbbls/d ▲3% 18.5 bcf ▲62% 51.4 mmscf/d ▲5
Slide 11: Q1 2026 Operational Performance
Q1 2026 OPERATIONAL PERFORMANCE FIRST FULL-QUARTER STEP-CHANGE IN UPSTREAM AND MIDSTREAM PRODUCTION SCALE Basis of comparison: Q1 2026 reflects the first full quarter of the enlarged Group following the December 2025 consolidation, so year-on-year growth rates are not directly comparable with the pr
Slide 12: Q1 2026 Production Contribution Across Enlarged Portfolio
Q1 2026 PRODUCTION CONTRIBUTION ACROSS ENLARGED PORTFOLIO Basis of comparison: Q1 2026 reflects the first full quarter of the enlarged Group following the December 2025 consolidation, so year-on-year growth rates are not directly comparable with the prior-year standalone base. Average Crude oil prod
Slide 13: FY 2025 Downstream Performance
FY 2025 DOWNSTREAM PERFORMANCE IMPROVED RELIABILITY, SALES GROWTH AND UTILISATION UPSIDE 313.4 Mltres 302.9 Mltres 49.3% ▲ 18% YoY ▲ 26% YoY ▲ 9.3 pts YoY Refined production volumes Refined sales volumes Average capacity utilisation FY 2024: 264.9 Mltres FY 2024: 240.5 Mltres FY 2024: 40% Refined Pr
Slide 14: Q1 2026 Downstream Performance
Q1 2026 DOWNSTREAM PERFORMANCE VOLUME PRESSURE PARTLY OFFSET BY STRONGER REALISED PRICES 58.7 Mltres 55.8 Mltres 40.7% ▼24% YoY ▼26% YoY ▼10.7 pts YoY Refined production volumes Refined sales volumes Average capacity utilisation Q1 2025: 76.9 Mltres Q1 2025: 75.5 Mltres Q1 2025: 51% Refined Product
Slide 15: Financial Review
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Slide 16: FY 2025 Financial Highlights
FY 2025 FINANCIAL HIGHLIGHTS STRONG REPORTED EARNINGS IN A TRANSITION YEAR REVENUE EBITDA ▪ 20% increase in revenue driven by sustained momentum across all business segments - Crude oil and refined products were the major contributors to revenue, accounting for ₦699.4bn ₦815.0bn 63% and 30% respecti
Slide 17: FY 2025 Key Financial Highlights
FY 2025 KEY FINANCIAL HIGHLIGHTS % N’billion FY 2025 FY 2024 change ▪ Higher production volume; reliable evacuation through the TNP and ACE systems. Partially offset by lower Crude Oil Revenue 440.1 373.7 18% realised prices - $70.3/bbl (FY24, $82.3/bbl). ▪ Higher production volumes supported by new
Slide 18: Q1 2026 Financial Highlights
Q1 2026 FINANCIAL HIGHLIGHTS ENLARGED SCALE DRIVING REVENUE GROWTH AND PROFITABILITY REVENUE EBITDA Basis of comparison: Q1 2026 reflects the first full quarter of the enlarged Group following the December ₦728.5bn ₦537.7bn 2025 consolidation, so year-on-year growth rates are not directly comparable
Slide 19: Q1 2026 Key Financial Highlights
Q1 2026 KEY FINANCIAL HIGHLIGHTS % N’billion Q1 2026 Q1 2025 change Crude Oil Revenue 484.6 142.1 241% ▪ Higher production volume; reliable evacuation. Gas Revenue 187.9 4.4 4159% ▪ Higher production volumes; gas plant revamping. Refined Product 56.0 53.3 5% ▪ Offtake and feedstock constraints; impr
Slide 20: Cash Flow Waterfall
CASH FLOW WATERFALL STRONG OPERATING CASH GENERATION SUPPORTS LIQUIDITY N’billions 868.3 (132.3) 832.5 1,504.7 (634.4) (6.0) 1,600.4 * 13.3 4.5 503.8 179.7 17.7 411.8 (48.6) (110.6) (141.0) (15.3) (26.6) (116.6) ▪ Cash flow from operations rose by 383% to ₦868.3 billion, driven by favourable working
Slide 21: Balance Sheet and Liquidity Management
BALANCE SHEET AND LIQUIDITY MANAGEMENT STRONG LIQUIDITY AND LOWER NET DEBT SUPPORT POST-ACQUISITION FINANCIAL FLEXIBILITY ▪ Strong growth in total assets and total equity, driven by the TOTAL CASH TOTAL ASSETS (N’BILLIONS) consolidation of ND Western’s assets and liabilities, together with the carry
Slide 22: Strategy and Outlook
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Slide 23: Aradel Holdings' Medium-to Long-Term Strategy
ARADEL HOLDINGS’ MEDIUM-TO LONG-TERM STRATEGY DRIVING SUSTAINABLE SHAREHOLDER RETURNS THROUGH INTEGRATED ENERGY VALUE CREATION Reserve & Capacity 01 Consolidation 02 03 Production Growth 04 Strategic Acquisitions Expansion Unlock synergies from our Grow reserves and downstream Scale output and opera
Slide 24: 2026 Production Guidance
2026 PRODUCTION GUIDANCE 2P Reserves 2C Resources 2P + 2C 46.9 109.7 156.6 90.3 241.7 151.4 594.3 1,502.2 2,096.5 mmboe mmboe mmboe 396.0 1,698.2 1,302.2 Aradel ND Western Renaissance Aradel Holdings ND Western Renaissance Aradel Holdings ND Western Renaissance Liquids 35% Liquids 38% Liquids 37% Ga
Slide 25: Thank You
Thank You ARADEL HOLDINGS PLC: FY 2025 AND Q1, 2026 INVESTOR PRESENTATION| 25
Slide 26: Appendix
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Slide 27: Consolidated Statement of Profit and Loss (Naira)
CONSOLIDATED STATEMENT OF PROFIT AND LOSS (NAIRA) In thousands of Naira 31-Mar-2026 31-Mar-2025 Revenue 728,519,315 199,867,407 Cost of sales (472,239,174) (120,978,380) Gross profit 256,280,141 78,889,027 Other (loss)/income 208,883,032 614,070 General and administrative expenses (92,244,831) (15,9
Slide 28: Consolidated Statement of Financial Position (Naira)
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (NAIRA) In thousands of Naira 31-Mar-2026 31-Dec-2025 Assets Non-current assets Property, plant and equipment 4,946,298,857 5,127,749,808 Intangible assets 25,060,609 26,536,679 Deferred tax assets 786,137,837 891,456,140 Financial assets 31,522,902 25,42
Slide 29: Consolidated Statement of Cash Flows (Naira)
CONSOLIDATED STATEMENT OF CASH FLOWS (NAIRA) In thousands of Naira 31-Mar-2026 31-Mar-2025 Profit before taxation 283,837,813 67,174,163 Adjustments: Interest expense 101,825,703 5,431,469 Interest income (12,745,174) (4,185,528) Exchange (gain)/loss (4,798,552) (219,733) Share of profit from associ
Slide 30: Consolidated Statement of Profit and Loss (USD)
CONSOLIDATED STATEMENT OF PROFIT AND LOSS (USD) In thousands of dollars 31-Mar-2026 31-Mar-2025 Revenue 526,452 131,399 Cost of sales (341,258) (79,535) Gross profit 185,194 51,864 Other income/loss 150,945 403 General and administrative expenses (66,660) (10,484) Operating profit 269,479 41,783 Fin
Slide 31: Consolidated Statement of Financial Position (USD)
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (USD) In thousands of dollars 31-Mar-2026 31-Dec-2025 Assets Non-current assets Property, plant and equipment 3,568,192 3,572,598 Intangible assets 18,079 18,489 Deferred tax assets 567,109 621,094 Financial assets 22,739 17,712 Other receivables 215,736
Slide 32: Consolidated Statement of Cash Flows (USD)
CONSOLIDATED STATEMENT OF CASH FLOWS (USD) In thousands of dollars 31-Mar-2026 31-Mar-2025 Profit before taxation 205,106 44,160 Adjustments: Interest expense 73,582 3,571 Interest income (9,209) (2,752) Exchange (gain)/loss (3,467) (144) Share of profit from associate - (3,196) Loss on Financial As
Slide 33: Contact
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Slide 34: Contact Details and Additional Resources
CONTACT DETAILS ADDITIONAL RESOURCES Aradel Holdings Plc Results Adegbola Adesina FY 2025 Audited Financial Statements Here FY 2025 Audited Results Press Release Here Chief Financial Officer Q1 2026 Unaudited Financial Statements Here Email: IR@aradel.com Q1 2026 Unaudited Results Press Release Here