Aradel Holdings 9M 2026 Results: EBITDA, Dividend Declared

Aradel Holdings Plc reported revenue of ₦3,949.7 billion for the nine months ended 30 September 2026, a 633% increase from ₦538.8 billion in the same period of 2025. The growth reflects the full consolidation of ND Western and Renaissance following the completion of their acquisition on 31 December 2025.

Group average production reached 144.7 kboepd, a 502% increase from 24.0 kboepd, prompting a revision of full-year 2026 production guidance to 140 to 150 kboepd from the earlier range of 110 to 140 kboepd. EBITDA came in at ₦2,098.4 billion at a 53% margin, while operating profit rose 832% to ₦1,562.1 billion.

Profit after tax was ₦43.3 billion, weighed down by a ₦529.1 billion earnout charge linked to the Renaissance acquisition of SPDC. Excluding adjusting items, profit after tax attributable to shareholders was ₦572.4 billion.

The Group moved from a net debt position of ₦475.1 billion to a net cash position of ₦532.3 billion. Unit field operating cost fell 28% to US$7.9 per barrel of oil equivalent.

The Board declared an interim dividend of ₦7.00 per share.