Aradel Holdings Q1 2026 Results: Revenue Up 265%
Aradel Holdings Plc filed its unaudited Q1 2026 results on 22 June 2026, covering the three-month period ended 31 March 2026. The filing represents the first full quarter consolidating ND Western Limited and the Group's majority interest in Renaissance Africa Energy Company Limited.
Aradel Holdings Plc reported group revenue of ₦728.5 billion for Q1 2026, a 265% increase from ₦199.9 billion recorded in Q1 2025. The company attributed the growth primarily to the consolidation of ND Western Limited (NDW) as a subsidiary and the resulting majority interest in Renaissance Africa Energy Company Limited, alongside higher crude oil production and improved realised prices.
Profit after tax came in at ₦120.3 billion, up 252% from ₦34.2 billion in Q1 2025. EBITDA rose 518% to ₦537.7 billion, while operating profit increased 487% to ₦372.9 billion. Cash generated from operations reached ₦868.3 billion, compared to ₦30.6 billion in the prior year period.
Total production averaged 141,118 boepd, a 672% increase, driven by NDW and Renaissance volumes. Average daily crude oil production rose 276% to 56,510 bopd, while gas production surged 2,503% to 507.7 mmscf/d. Refined production declined 21% to 698.3 kltrs/d, which the company attributed to offtake and feedstock constraints and operational challenges.
Cash at bank stood at ₦1,600.4 billion at the end of Q1 2026, up from ₦1,504.7 billion at FY 2025. Basic and diluted earnings per share were ₦15.24, compared to ₦7.77 in Q1 2025.
