Geregu Power projects N8.2bn profit for first half of 2026

Nigeria’s leading power generation company, Geregu Power Plc, is projecting more than N8 billion in profit for the half-year period ending 30 June 2026.

The power producer, which has a combined installed capacity of about 1.0GW, operates two gas-fired plants in Africa’s fourth-largest economy. Geregu Power is also one of the most highly capitalised companies on the Nigerian Exchange, with a market value of about N2.85 trillion.

Financial forecasts presented to investors on the Nigerian Exchange Limited on Tuesday show that the company expects revenue to reach N44.34 billion by the end of June 2026. Cost of sales is projected at N27.40 billion, resulting in an estimated gross profit of N16.93 billion.

Administrative expenses are expected to total N2.06 billion, while operating profit is forecast to reach N13.86 billion.

Cash flows from operating activities are projected to generate about N51 billion from cash receipts on energy and capacity charges. Of this amount, N19.28 billion is expected to be spent on suppliers and employees, leaving N31.72 billion as net cash generated from operations during the period.

Geregu Power Plc also reported a strong financial performance for the year ended 31 December 2025, driven by significant growth in revenue. While net profit declined slightly due to planned increases in finance costs and tax expenses linked to expansion, the company maintained strong operational profitability.

Revenue rose by 35 per cent to N184.94 billion, compared with N137.13 billion recorded in 2024. Operating profit increased to N48.15 billion from N42.95 billion in the previous year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) climbed to N58.86 billion from N47.92 billion in 2024, reflecting strong operational cash flow. Net profit stood at N27.25 billion, slightly lower than the N27.43 billion reported in 2024, while earnings per share remained stable at N10.90 compared with N10.97 a year earlier.

The company’s board has proposed a final dividend of N9.00 per share for the 2025 financial year, signalling confidence in its sustained profitability and long-term outlook.