Dangote Petroleum Refinery and Petrochemicals has reported $22.48 billion in earnings and $4.73 billion in internet benefit for the 9 months ended September 30, 2026, reversing a loss recorded throughout the corresponding length final 12 months.
The corporate’s unaudited monetary effects, launched in Lagos on Tuesday, confirmed that earnings rose by way of 144 in keeping with cent from $9.2 billion within the first 9 months of 2025, whilst internet benefit in comparison with a lack of $117.2 million recorded a 12 months previous.
Profits earlier than hobby, taxes, depreciation and amortisation (EBITDA) greater just about ninefold to $5.52 billion from $627.6 million, reflecting upper refining throughput, progressed operational reliability and more potent refining margins.
The consequences additionally confirmed a vital growth within the refinery’s money place, with money balances emerging to $6.69 billion from $809.5 million in September 2025.
Working money go with the flow climbed greater than tenfold to $3.68 billion from $364.7 million within the corresponding length final 12 months.
The refinery additionally moved from a internet debt place of $1.73 billion in September 2025 to a internet money place of $650.8 million by way of September 2026, strengthening its monetary place because it pursues additional enlargement.
Its EBITDA margin rose to 24.56 in keeping with cent from 6.83 in keeping with cent, indicating progressed profitability from its refining operations.
The consequences additionally highlighted more potent efficiency within the 1/3 quarter. Income greater from $13.91 billion on the finish of June to $22.48 billion by way of September, implying earnings of roughly $8.57 billion throughout the 3 months.
EBITDA rose from $2.60 billion on the half-year mark to $5.52 billion by way of September, indicating third-quarter profits of about $2.92 billion.
Internet benefit in a similar fashion greater from $1.82 billion on the finish of June to $4.73 billion in September, representing an extra $2.90 billion throughout the 1/3 quarter.
Managing Director and Leader Government Officer of Dangote Petroleum Refinery and Petrochemicals, David Chook, attributed the efficiency to greater throughput, operational balance and more potent refining margins.
“Our third-quarter efficiency demonstrates the a hit transition from commissioning and ramp-up actions to sustainable industrial operations,” Chook mentioned.
“Income greater to US$22.5 billion from US$9.2 billion within the corresponding length of 2025, whilst EBITDA rose to US$5.5 billion from US$627.6 million, reflecting upper throughput, progressed operational reliability and more potent gross refining margins.”
Chook mentioned the consequences demonstrated the power of the refinery’s built-in trade fashion and equipped a basis for its subsequent section of enlargement.
“Those effects replicate the power of our built-in trade fashion and supply a forged basis as we development via our IPO and execute our Imaginative and prescient 2030 enlargement technique,” he mentioned.
“With our enlargement programme already underway, we stay all in favour of expanding refining capability and broadening our product portfolio. We will be able to proceed to beef up our distribution community throughout Africa and strengthen power safety around the continent, whilst growing long-term worth for stakeholders.”
The monetary effects come because the refinery pursues an preliminary public providing (IPO) aimed toward broadening African possession of the commercial advanced.
The corporate not too long ago secured approval from the Securities and Change Fee to increase the ultimate date of the be offering from October 13 to October 27, 2026, to deal with investor hobby and inspire wider participation throughout Africa.
The IPO contains 4.1 billion bizarre stocks priced at ₦525 each and every, representing an be offering valued at roughly ₦2.15 trillion.
President and Leader Government of Dangote Industries Restricted, Aliko Dangote, had disclosed that subscriptions to the be offering had exceeded the corporate’s authentic fundraising goal.
He mentioned the target was once to permit extra Africans to take part within the refinery’s possession moderately than just carry further capital.
The most recent effects supply traders with a sign of the refinery’s profits, money technology and monetary place because it seeks to draw a broader shareholder base.
Additionally they come because the Dangote Crew advances its Imaginative and prescient 2030 enlargement plans, which come with expanding refining capability, increasing petrochemical manufacturing and strengthening distribution networks throughout African markets.
Situated within the Lekki Loose Zone in Lagos, Dangote Petroleum Refinery operates an built-in refining and petrochemical advanced with a crude distillation capability of 700,000 barrels in keeping with day.
The ability represents a significant funding in Africa’s power and commercial infrastructure, with the corporate searching for to increase its operations and beef up its place in regional power markets.
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