Prime Business Africa
Eterna Plc saw cost of production gulp 95.88 percent of its revenue in 2025, compared to the 87.26 percent recorded in 2024, according to Prime Business Africa’s analysis.
This was as a result of the company’s revenue declining by 3.53 percent year-on-year, from N313.61 billion to N302.51 billion, while production costs grew by 5.99 percent, from N273.67 billion to N290.06 billion.
Join our WhatsApp ChannelWith cost of sales overshadowing Eterna’s turnover, the company saw its gross profit decline to N12.44 billion in 2025, below the N39.94 billion posted the year before, representing a 68.83 percent decline.
During the year under review, the company reduced selling and distribution expenses by 52.05 percent year-on-year, from N327.16 million to N156.85 million.
However, Eterna increased its general and administrative expenses to N12.52 billion last year, compared to the N9.36 billion incurred in 2024, reflecting an increase of 33.69 percent.
The company made up for the revenue decline with a 9,352.13 percent increase in other income, which grew to N9.41 billion in 2025 from N99.62 million in 2024.
Also, it recovered from the N2.38 billion impairment charge recorded in 2024 after recording zero impairment last year.
Regardless, Eterna’s operating profit nosedived to N9.18 billion in 2025, failing to surpass the N27.96 billion recorded in 2024, indicating a 67.14 percent decline.
However, the oil producer improved its earnings with a N107.66 million net foreign exchange (FX) gain last year, recovering from the N(15,79 billion net FX loss suffered in 2024.
It also grew finance income by 160.59 percent year-on-year, from N5.01 million to N13.06 million, while Eterna reduced finance cost by 68.15 percent, from N7.69 billion to N2.44 billion.
This helped Eterna record a 52.95 percent increase in profit before tax (PAT) despite poor turnover, as pretax profit increased to N6.85 billion in 2025, above the N4.48 billion earned in 2024.
From the pretax profit, Eterna paid the government N4.57 billion tax in 2025, up by 45.92 percent when compared to the N3.13 billion in the year before, leaving the company with N2.28 billion profit after tax (PAT), which increased by 69.30 percent compared to the N1.34 billion achieved in 2024.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
