Aradel Holdings H1 2026 Results: Revenue Up 577%

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.