Aradel Holdings H1 2026 Results: Revenue Up 577%
Aradel Holdings Plc released its unaudited half-year results for the period ended 30 June 2026 on 31 July 2026. The filing covers operational and financial performance for the first six months of 2026, including production volumes, revenue, EBITDA, profit figures, and cash position.
Aradel Holdings Plc reported gross revenue of ₦2,491.5 billion for the half year ended 30 June 2026, a 577% increase from ₦368.1 billion recorded in the same period of 2025. The growth was attributed to higher production volumes and stronger realised crude oil and gas prices, with average realised prices of US$90.4 per barrel and US$2.08 per mmscf.
Group production averaged 139.5 kboepd, up 523% from 22.4 kboepd in H1 2025. Average daily crude oil production rose 258% to 55.6 kbopd, while gas production increased 1,121% to 503.2 mmscf/d. Refined product output, however, declined 22% to 126.2 million litres, with the company citing constrained feedstock availability and unplanned plant downtime in Q1 2026.
EBITDA came in at ₦1,389.2 billion, up 688%, with an EBITDA margin of 55.8%. Operating profit was ₦1,055.2 billion, up 789%. Profit after tax stood at ₦191.0 billion, a 30% increase. Net cash from operations reached ₦975.6 billion. Cash and cash equivalents were ₦1,717.6 billion as at 30 June 2026, while net debt fell 70% to ₦46.5 billion. The company reaffirmed full-year production guidance of 110–140 kboepd.
