Aradel Holdings Q1 2026 Results: Revenue Up 265%

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.