- Gross profit improved to GHS 781.54 million, and operating profit before financing costs rose to GHS 480.76 million
- : CEO remains confident in growth for 2025 despite economic challenges
- Total revenue reached GHS 6.99 billion, up from GHS 6.04 billion the previous year
TotalEnergies Marketing Ghana PLC reported a profit after tax of GHS 286.67 million for the year ending December 31, 2024, a notable increase from GHS 167.91 million in 2023. This strong performance was driven by higher revenue and improved operational efficiency.
The company’s revenue rose to GHS 6.99 billion, up from GHS 6.04 billion in the previous year, reflecting increased sales and strategic market positioning. However, the cost of sales also grew to GHS 6.21 billion, compared to GHS 5.43 billion in 2023.
Gross profit increased to GHS 781.54 million, while operating profit before financing costs reached GHS 480.76 million, up from GHS 322.35 million in the prior year.
In addition to financial gains, TotalEnergies Marketing Ghana made a significant tax contribution of GHS 1.7 billion to the Government of Ghana in 2024. This includes GHS 680.5 million in petroleum taxes, GHS 348.3 million in levies and VAT, and GHS 222.6 million to the Unified Petroleum Price Fund (UPPF). The company also paid GHS 180.3 million in other petroleum taxes, GHS 96.5 million in corporate taxes, GHS 74.4 million in import duties, and GHS 66.7 million in withholding taxes. Furthermore, GHS 21.5 million was paid under the GSL, and GHS 14.4 million went toward PAYE.
The company’s basic earnings per share increased to GHS 2.5624, up from GHS 1.5009 the previous year, reflecting strong shareholder value creation.
At the Ghana Stock Exchange’s “Facts Behind The Figures” event, Managing Director Olufemi Babajide shared his optimism for 2025, stating that despite the challenging macroeconomic environment, TotalEnergies Marketing Ghana successfully navigated 2024 and delivered a record performance. He expressed confidence in continued growth for 2025, with a focus on providing clean, affordable, and quality products and services to customers.
TotalEnergies Marketing Ghana’s financial and tax contributions highlight its resilience in Ghana’s petroleum sector, reinforcing its position as a key industry player while supporting national revenue generation.
