Income Statement Conoil Plc

Stocks

CONOIL

NGCONOIL0003

Oil & Gas Refining and Marketing

End-of-day quote Nigerian S.E. 11/09/2026			5-day change	1st Jan Change
210.00 ^NGN	0.00%		0.00%	+12.18%

07-30	Conoil Plc Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI
06-16	Conoil Plc Reports Earnings Results for the First Quarter Ended March 31, 2026	CI

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Published financial data: CONOIL PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (NGN)	2022 (NGN)	2023 (NGN)	2024 (NGN)	2025 (NGN)
Revenues	127B	131B	201B	323B	302B
Total Revenues	127B	131B	201B	323B	302B
Cost of Goods Sold, Total	116B	118B	182B	297B	279B
Gross Profit	10.99B	13.91B	19.68B	26.03B	22.36B
Selling General & Admin Expenses, Total	6.63B	6.38B	7.1B	11.17B	9.05B
Other Operating Expenses	-167M	-129M	-81.5M	-18.18M	-139M
Other Operating Expenses, Total	6.46B	6.25B	7.02B	11.15B	8.91B
Operating Income	4.53B	7.66B	12.66B	14.88B	13.45B
Interest Expense, Total	-753M	-1.47B	-1.95B	-3.95B	-10.78B
Interest And Investment Income	9K	6.62M	25.59M	9.88M	1.39M
Net Interest Expenses	-753M	-1.46B	-1.92B	-3.94B	-10.78B
Currency Exchange Gains (Loss)	116M	8.34M	1.54B	60.62M	-622K
Other Non Operating Income (Expenses)	-1K	-	-	1K	1K
EBT, Excl. Unusual Items	3.89B	6.21B	12.28B	11B	2.68B
Legal Settlements	-60M	-71.77M	-	-	-
EBT, Incl. Unusual Items	3.83B	6.13B	12.28B	11B	2.68B
Income Tax Expense	749M	1.18B	2.41B	2.23B	499M
Earnings From Continuing Operations	3.08B	4.96B	9.87B	8.77B	2.18B
Net Income to Company	3.08B	4.96B	9.87B	8.77B	2.18B
Net Income - (IS)	3.08B	4.96B	9.87B	8.77B	2.18B
Net Income to Common Incl Extra Items	3.08B	4.96B	9.87B	8.77B	2.18B
Net Income to Common Excl. Extra Items	3.08B	4.96B	9.87B	8.77B	2.18B
Per Share Items
Net EPS - Basic	4.44	7.14	14.22	12.64	3.14
Basic EPS - Continuing Operations	4.44	7.14	14.22	12.64	3.14
Basic Weighted Average Shares Outstanding	694M	694M	694M	694M	694M
Net EPS - Diluted	4.44	7.14	14.22	12.64	3.14
Diluted EPS - Continuing Operations	4.44	7.14	14.22	12.64	3.14
Diluted Weighted Average Shares Outstanding	694M	694M	694M	694M	694M
Normalized Basic EPS	3.51	5.59	11.06	9.91	2.41
Normalized Diluted EPS	3.51	5.59	11.06	9.91	2.41
Dividend Per Share	2.5	2.5	3.5	3.5	2
Payout Ratio	33.77	34.99	17.58	27.68	111.49
Supplemental Items
EBITDA	5.28B	8.18B	13.3B	15.63B	14.26B
EBITA	4.53B	7.66B	12.67B	14.89B	13.45B
EBIT	4.53B	7.66B	12.66B	14.88B	13.45B
Effective Tax Rate - (Ratio)	19.55	19.19	19.62	20.27	18.64
Current Domestic Taxes	636M	1.07B	2B	1.55B	388M
Total Current Taxes	636M	1.07B	2B	1.55B	388M
Deferred Domestic Taxes	-6.01M	-65.12M	-6.45M	204M	-
Total Deferred Taxes	-6.01M	-65.12M	-6.45M	204M	-
Normalized Net Income	2.43B	3.88B	7.67B	6.88B	1.67B
Supplemental Operating Expense Items
Marketing Expenses	133M	103M	90.08M	90.78M	217M
Selling and Marketing Expenses	2.39B	2.29B	2.76B	6.89B	4.05B
General and Administrative Expenses	4.24B	4.08B	4.34B	4.28B	5B
Maintenance & Repair Expenses, Total	168M	101M	152M	324M	314M

Fiscal Period: December	2021 (NGN)	2022 (NGN)	2023 (NGN)	2024 (NGN)	2025 (NGN)
Assets
Cash And Equivalents	6.66B	5.88B	11.33B	7.26B	12.91B
Total Cash And Short Term Investments	6.66B	5.88B	11.33B	7.26B	12.91B
Accounts Receivable, Total	18.8B	22.92B	28.07B	37.89B	68.73B
Other Receivables	2.21B	2.43B	4.6B	4.6B	4.6B
Total Receivables	21.02B	25.35B	32.67B	42.49B	73.33B
Inventory	17.39B	26.09B	44.81B	53.77B	35.12B
Prepaid Expenses	45.71M	96.12M	96.12M	56.98M	137M
Other Current Assets, Total	4.56B	4.8B	4.7B	4.89B	4.54B
Total Current Assets	49.68B	62.22B	93.61B	108B	126B
Gross Property Plant And Equipment	26.89B	26.9B	27.64B	30.79B	38.44B
Accumulated Depreciation	-25.02B	-25.49B	-26.07B	-26.82B	-27.62B
Net Property Plant And Equipment	1.87B	1.41B	1.56B	3.97B	10.81B
Long-term Investments	10K	10K	10K	10K	10K
Other Intangibles, Total	24.69M	10K	10K	10K	10K
Deferred Tax Assets Long-Term	2.19B	2.21B	2.21B	2.38B	2.38B
Other Long-Term Assets, Total	224M	74.87M	94.77M	124M	135M
Total Assets	53.98B	65.91B	97.48B	115B	139B
Liabilities
Accounts Payable, Total	3.47B	10.99B	2.59B	13.81B	19.82B
Accrued Expenses, Total	9.34B	6.08B	9.06B	9.54B	5.91B
Short-term Borrowings	7.36B	5.71B	32.01B	28.68B	54.9B
Current Income Taxes Payable	2.03B	2.97B	4.84B	5.07B	3.22B
Other Current Liabilities	9.2B	14.4B	15.08B	17.22B	15.13B
Total Current Liabilities	31.4B	40.15B	63.57B	74.32B	98.98B
Deferred Tax Liability Non Current	207M	163M	163M	533M	533M
Other Non Current Liabilities	585M	589M	595M	609M	614M
Total Liabilities	32.19B	40.9B	64.33B	75.46B	100B
Common Stock, Total	347M	347M	347M	347M	347M
Additional Paid In Capital	3.82B	3.82B	3.82B	3.82B	3.82B
Retained Earnings	17.62B	20.84B	28.97B	35.32B	35.07B
Total Common Equity	21.79B	25.01B	33.15B	39.49B	39.24B
Total Equity	21.79B	25.01B	33.15B	39.49B	39.24B
Total Liabilities And Equity	53.98B	65.91B	97.48B	115B	139B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	694M	694M	694M	694M	694M
ECS Total Common Shares Outstanding	694M	694M	694M	694M	694M
Book Value / Share	31.4	36.04	47.76	56.91	56.55
Tangible Book Value	21.76B	25.01B	33.15B	39.49B	39.24B
Tangible Book Value Per Share	31.36	36.04	47.76	56.91	56.55
Total Debt	7.36B	5.71B	32.01B	28.68B	54.9B
Net Debt	692M	-176M	20.68B	21.41B	41.99B
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Finished Goods, Total	8.76B	5.26B	16.54B	29.25B	22.39B
Land - (BS)	148M	148M	148M	148M	240M
Buildings, Total	6.95B	6.95B	6.99B	8.81B	9.41B
Machinery, Total	19.79B	19.8B	20.5B	21.41B	21.6B
Full Time Employees	185	168	149	148	140
Accumulated Allowance for Doubtful Accounts (Supple)	5.91B	5.91B	6.22B	6.22B	6.22B

Fiscal Period: December	2021 (NGN)	2022 (NGN)	2023 (NGN)	2024 (NGN)	2025 (NGN)
Net Income	3.08B	4.96B	9.87B	8.77B	2.18B
Depreciation & Amortization - CF	742M	519M	632M	744M	806M
Amortization of Goodwill and Intangible Assets - (CF)	4.85M	5.71M	6.72M	7.91M	-
Depreciation & Amortization, Total	747M	525M	639M	752M	806M
Amortization of Deferred Charges, Total - (CF)	13.33M	24.68M	-	-	-
Other Operating Activities, Total	281M	1.98B	3.43B	3.98B	8.56B
Change In Accounts Receivable	-3.66B	-16.72B	-14.73B	-6.24B	-18.79B
Change In Inventories	-1.37B	3.5B	-11.28B	-12.72B	6.86B
Change In Accounts Payable	-3.65B	9.82B	-4.37B	14.25B	654M
Change in Other Net Operating Assets	-10.76M	-1.57M	-500K	6M	-4M
Cash from Operations	-4.56B	4.08B	-16.46B	8.8B	270M
Capital Expenditure	-35.52M	-8.91M	-735M	-3.16B	-7.65B
Sale (Purchase) of Intangible assets	-2.97M	-	-	-	-
Other Investing Activities, Total	9K	6.62M	25.59M	9.88M	1.39M
Cash from Investing	-38.48M	-2.29M	-709M	-3.15B	-7.65B
Common Dividends Paid	-1.04B	-1.73B	-1.73B	-2.43B	-2.43B
Common & Preferred Stock Dividends Paid	-1.04B	-1.73B	-1.73B	-2.43B	-2.43B
Other Financing Activities, Total	-758M	-1.47B	-1.96B	-3.95B	-10.78B
Cash from Financing	-1.8B	-3.21B	-3.69B	-6.38B	-13.21B
Miscellaneous Cash Flow Adjustments	-	-	-1K	-	-1K
Net Change in Cash	-6.4B	868M	-20.86B	-732M	-20.58B
Supplemental Items
Cash Interest Paid	753M	1.47B	1.95B	3.95B	10.78B
Cash Income Tax Paid (Refund)	1.02B	303M	552M	1.79B	2.35B
Levered Free Cash Flow	-6.04B	1.48B	-22.22B	-424M	-18.65B
Unlevered Free Cash Flow	-5.57B	2.4B	-21B	2.04B	-11.92B
Change In Net Working Capital	9.12B	2.93B	28.82B	4.85B	13.48B

Fiscal Period: December	2021 (NGN)	2022 (NGN)	2023 (NGN)	2024 (NGN)	2025 (NGN)
Profitability
Return on Assets	5.5	7.98	9.68	8.76	6.61
Return on Total Capital	11.59	15.99	16.51	13.95	10.36
Return On Equity %	14.92	21.19	33.94	24.16	5.53
Return on Common Equity	14.92	21.19	33.94	24.16	5.53
Margin Analysis
Gross Profit Margin %	8.67	10.58	9.77	8.06	7.41
SG&A Margin	5.23	4.85	3.53	3.46	3
EBITDA Margin %	4.16	6.23	6.6	4.84	4.73
EBITA Margin %	3.58	5.83	6.29	4.61	4.46
EBIT Margin %	3.57	5.83	6.29	4.6	4.46
Income From Continuing Operations Margin %	2.43	3.77	4.9	2.72	0.72
Net Income Margin %	2.43	3.77	4.9	2.72	0.72
Net Avail. For Common Margin %	2.43	3.77	4.9	2.72	0.72
Normalized Net Income Margin	1.92	2.95	3.81	2.13	0.55
Levered Free Cash Flow Margin	-4.77	1.13	-11.03	-0.13	-6.18
Unlevered Free Cash Flow Margin	-4.4	1.82	-10.43	0.63	-3.95
Asset Turnover
Asset Turnover	2.46	2.19	2.47	3.04	2.37
Fixed Assets Turnover	60.78	80.14	135.54	116.75	40.81
Receivables Turnover (Average Receivables)	7.49	6.3	7.9	9.8	5.66
Inventory Turnover (Average Inventory)	6.93	5.41	5.13	6.03	6.29
Short Term Liquidity
Current Ratio	1.58	1.55	1.47	1.46	1.27
Quick Ratio	0.88	0.78	0.69	0.67	0.87
Operating Cash Flow to Current Liabilities	-0.15	0.1	-0.26	0.12	0
Days Sales Outstanding (Average Receivables)	48.71	57.94	46.21	37.35	64.49
Days Outstanding Inventory (Average Inventory)	52.67	67.52	71.21	60.72	58.07
Average Days Payable Outstanding	16.49	20.9	12.37	9.81	23.57
Cash Conversion Cycle (Average Days)	84.89	104.56	105.05	88.27	98.99
Long Term Solvency
Total Debt/Equity	33.76	22.81	96.56	72.61	139.92
Total Debt / Total Capital	25.24	18.57	49.13	42.07	58.32
Total Liabilities / Total Assets	59.64	62.05	66	65.65	71.84
EBIT / Interest Expense	6.02	5.22	6.5	3.77	1.25
EBITDA / Interest Expense	7.01	5.58	6.82	3.96	1.32
(EBITDA - Capex) / Interest Expense	6.96	5.58	6.45	3.16	0.61
Total Debt / EBITDA	1.39	0.7	2.41	1.83	3.85
Net Debt / EBITDA	0.13	-0.02	1.56	1.37	2.94
Total Debt / (EBITDA - Capex)	1.4	0.7	2.55	2.3	8.3
Net Debt / (EBITDA - Capex)	0.13	-0.02	1.65	1.72	6.35
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	7.88	3.71	53.24	60.45	-6.62
Gross Profit, 1 Yr. Growth %	14.11	26.49	41.52	32.28	-14.09
EBITDA, 1 Yr. Growth %	31.13	55.1	62.51	17.55	-8.77
EBITA, 1 Yr. Growth %	47.72	69.04	65.28	17.54	-9.63
EBIT, 1 Yr. Growth %	47.76	69.09	65.31	17.54	-9.58
Earnings From Cont. Operations, 1 Yr. Growth %	114.05	60.82	99.05	-11.09	-75.17
Net Income, 1 Yr. Growth %	114.05	60.82	99.05	-11.09	-75.17
Normalized Net Income, 1 Yr. Growth %	54.4	59.48	97.81	-10.37	-75.67
Diluted EPS Before Extra, 1 Yr. Growth %	113.94	60.81	99.16	-11.11	-75.16
Accounts Receivable, 1 Yr. Growth %	25.17	21.91	22.45	35	81.39
Inventory, 1 Yr. Growth %	8.65	49.99	71.78	19.98	-34.68
Net Property, Plant and Equip., 1 Yr. Growth %	-18.67	-24.63	10.82	154.37	172.16
Total Assets, 1 Yr. Growth %	10.47	22.1	47.9	17.93	21.24
Tangible Book Value, 1 Yr. Growth %	11.7	14.92	32.52	19.14	-0.63
Common Equity, 1 Yr. Growth %	11.63	14.79	32.52	19.14	-0.63
Cash From Operations, 1 Yr. Growth %	-145.7	-189.41	-503.68	-153.45	-96.93
Capital Expenditures, 1 Yr. Growth %	-73.12	-74.91	8.15K	329.46	142.35
Levered Free Cash Flow, 1 Yr. Growth %	-165.33	-124.53	-1.6K	-98.09	4.3K
Unlevered Free Cash Flow, 1 Yr. Growth %	-157.52	-143.04	-975.69	-109.72	-683.55
Dividend Per Share, 1 Yr. Growth %	66.67	0	40	0	-42.86
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-4.78	5.77	26.06	56.8	22.4
Gross Profit, 2 Yr. CAGR %	-8.59	20.14	33.79	36.82	6.6
EBITDA, 2 Yr. CAGR %	-6.98	42.61	58.76	38.22	3.56
EBITA, 2 Yr. CAGR %	-5.57	58.02	67.15	39.38	3.07
EBIT, 2 Yr. CAGR %	-5.58	58.07	67.19	39.4	3.09
Earnings From Cont. Operations, 2 Yr. CAGR %	25.02	85.54	78.92	33.03	-53.02
Net Income, 2 Yr. CAGR %	25.02	85.54	78.92	33.03	-53.02
Normalized Net Income, 2 Yr. CAGR %	-1.86	56.92	77.61	33.15	-53.3
Diluted EPS Before Extra, 2 Yr. CAGR %	25.04	85.48	78.96	33.05	-53.01
Accounts Receivable, 2 Yr. CAGR %	8.8	23.53	22.18	28.57	56.48
Inventory, 2 Yr. CAGR %	-12.19	27.65	60.52	43.57	-11.47
Net Property, Plant and Equip., 2 Yr. CAGR %	-21.98	-21.71	-8.61	67.89	163.11
Total Assets, 2 Yr. CAGR %	-7.86	16.14	34.38	32.06	19.57
Tangible Book Value, 2 Yr. CAGR %	5.87	13.3	23.41	25.65	8.81
Common Equity, 2 Yr. CAGR %	5.79	13.2	23.34	25.65	8.81
Cash From Operations, 2 Yr. CAGR %	-31.7	-36.08	89.98	46.89	-87.2
Capital Expenditures, 2 Yr. CAGR %	-68.99	-74.03	354.82	1.78K	222.62
Levered Free Cash Flow, 2 Yr. CAGR %	-25.77	-59.97	91.77	-46.51	-8.38
Unlevered Free Cash Flow, 2 Yr. CAGR %	-26.35	-50.24	94.15	-7.72	-24.67
Dividend Per Share, 2 Yr. CAGR %	11.8	29.1	18.32	18.32	-24.41
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	1.22	-2.03	19.68	36.62	31.92
Gross Profit, 3 Yr. CAGR %	-4.21	1.86	26.88	33.29	17.16
EBITDA, 3 Yr. CAGR %	-6.34	10.3	48.96	43.63	20.34
EBITA, 3 Yr. CAGR %	-5.8	14.66	60.4	48.64	20.64
EBIT, 3 Yr. CAGR %	-5.81	14.66	60.45	48.67	20.67
Earnings From Cont. Operations, 3 Yr. CAGR %	19.73	35.97	89.94	41.71	-23.97
Net Income, 3 Yr. CAGR %	19.73	35.97	89.94	41.71	-23.97
Normalized Net Income, 3 Yr. CAGR %	-0.78	15.38	69.51	41.41	-24.44
Diluted EPS Before Extra, 3 Yr. CAGR %	19.71	35.98	89.93	41.73	-23.96
Accounts Receivable, 3 Yr. CAGR %	9.74	13	23.17	26.31	44.2
Inventory, 3 Yr. CAGR %	7.2	4.97	40.93	45.67	10.42
Net Property, Plant and Equip., 3 Yr. CAGR %	-15.36	-22.87	-12.09	28.56	97.23
Total Assets, 3 Yr. CAGR %	-3.94	1.2	25.88	28.65	28.35
Tangible Book Value, 3 Yr. CAGR %	6.04	8.8	19.37	21.97	16.2
Common Equity, 3 Yr. CAGR %	5.99	8.71	19.3	21.92	16.2
Cash From Operations, 3 Yr. CAGR %	-6.77	-25.28	18.15	24.49	-59.56
Capital Expenditures, 3 Yr. CAGR %	-71.36	-71.1	77.16	346.2	850.3
Levered Free Cash Flow, 3 Yr. CAGR %	-8.98	-48.68	33.93	-58.75	132.61
Unlevered Free Cash Flow, 3 Yr. CAGR %	-7.64	-38.42	29.43	-28.44	70.64
Dividend Per Share, 3 Yr. CAGR %	7.72	7.72	32.64	11.87	-7.17
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	8.31	2.61	10.51	18.25	20.76
Gross Profit, 5 Yr. CAGR %	-4.6	1.6	9.49	14.62	18.34
EBITDA, 5 Yr. CAGR %	-4.93	2.14	15.68	20.72	28.8
EBITA, 5 Yr. CAGR %	-3.99	3.07	18.49	23.97	34.39
EBIT, 5 Yr. CAGR %	-4.01	3.06	18.49	23.98	34.43
Earnings From Cont. Operations, 5 Yr. CAGR %	1.67	25.72	40.6	34.78	8.63
Net Income, 5 Yr. CAGR %	1.67	25.72	40.6	34.78	8.63
Normalized Net Income, 5 Yr. CAGR %	-7.85	-1	25.24	22.18	1.22
Diluted EPS Before Extra, 5 Yr. CAGR %	1.66	25.76	40.6	34.8	8.63
Accounts Receivable, 5 Yr. CAGR %	27.08	10	14.55	18.99	35.54
Inventory, 5 Yr. CAGR %	12.92	27.04	25.99	18.97	17.01
Net Property, Plant and Equip., 5 Yr. CAGR %	-5.17	-10.97	-12.72	5.28	36.29
Total Assets, 5 Yr. CAGR %	-5.02	0.95	9.87	12.57	23.32
Tangible Book Value, 5 Yr. CAGR %	3.41	6.99	12.67	15.25	15.03
Common Equity, 5 Yr. CAGR %	3.37	6.93	12.61	15.2	14.99
Cash From Operations, 5 Yr. CAGR %	-28.29	-11.78	23.94	-2.08	-51.43
Capital Expenditures, 5 Yr. CAGR %	-39.91	-59.36	-13.45	53.58	125.16
Levered Free Cash Flow, 5 Yr. CAGR %	-24.32	-31.16	22.63	-47.82	15.06
Unlevered Free Cash Flow, 5 Yr. CAGR %	-26.19	-21.9	24.32	-27.61	4.23
Dividend Per Share, 5 Yr. CAGR %	-4.21	4.56	11.84	11.84	5.92