Transcorp Power posts N91.4bn profit, declares N41.25bn dividend

Transcorp Power Plc has reported a strong financial performance for the 2025 fiscal year, declaring a total dividend of N41.25 billion as profit rose to N91.4 billion.

The announcement was made at the company’s 13th Annual General Meeting in Abuja, where Chairman Emmanuel Nnorom said the payout reflects sustained growth and a commitment to rewarding shareholders.

The proposed dividend of N5.50 per share includes an interim payment of N1.50 and a final dividend of N4.00, subject to shareholder approval.

The company’s financials show revenue climbed to N398 billion in 2025 from N305.9 billion in 2024, driven by higher power generation and efficiency improvements, while profit after tax grew by 14.25 per cent from N80 billion recorded in the previous year.

Nnorom noted that the performance was achieved despite macroeconomic headwinds such as inflationary pressures, high operating costs, and tight monetary conditions.

He added that reforms in the power sector, including the Federal Government’s N4 trillion Presidential Power Sector Debt Reduction Plan, are expected to ease liquidity constraints and strengthen investor confidence.

Describing the initiative as a structured response to longstanding financial challenges in the industry, he said it could significantly improve market stability for generation companies.

Managing Director and Chief Executive Officer, Peter Ikenga, said the company maintained its growth trajectory despite operational challenges, including transmission limitations and infrastructure gaps.

“We strengthened our operations and reinforced our role as a reliable energy partner within Nigeria and across the West African region,” he said.

Ikenga disclosed that the company increased its available generation capacity from 505 megawatts to 625 megawatts, supported by improved plant performance and enhanced fuel efficiency.

He added that Transcorp Power also secured additional gas supplies and is exploring alternative fuel sources to ensure long-term energy security.

However, he pointed to persistent grid constraints, including the failure of critical 330kV transmission lines, as a major challenge affecting electricity evacuation across the sector.

Despite these constraints, the company maintained stable supply to the national grid and improved operational efficiency by reducing downtime and executing more activities in-house.

On safety performance, Ikenga said the company recorded over 1.14 million man-hours without a lost-time injury, reflecting strong adherence to safety standards.

The firm’s balance sheet remained solid, with total assets standing at N468 billion, equity at N183 billion, and liabilities at N380 billion as of the end of 2025.

Looking ahead, both the board and management expressed optimism about future growth, citing improving macroeconomic conditions and ongoing sector reforms aimed at expanding grid capacity to 8,500 megawatts.

Ikenga said the company would continue to focus on capacity expansion, fuel supply stability, improved working capital management, and increased participation in the West African Power Pool.

He also reaffirmed the company’s commitment to environmental, social, and governance standards, alongside continued investment in host communities.

Transnational Corporation Plc, the parent company, had earlier confirmed the audited results, highlighting sustained revenue growth and operational resilience in the 2025 financial year.