TotalEnergies Marketing Nigeria Plc has projected a post-tax loss of N2.2 billion for the fourth quarter of 2025, a sharper decline from the N543.1 million loss it had earlier forecast for Q3, whose results are yet to be released.
The forecast, filed with the Nigerian Exchange and signed by Executive Director Seye Samba, reflects the company’s expectations for the final quarter of the year.
If realized, the Q4 loss could widen its post-tax deficit to about N4.5 billion for the full year 2025, considering that past forecasts have fallen short of actual performance.
So far, 2025 has been marked by repeated misses on projections.
With Q3 results approaching and a larger Q4 loss projected, attention is turning to the factors behind the company’s repeated shortfalls and how it can return to profitability.
TotalEnergies has been weighed down by rising administrative expenses in 2025, eroding top-line performance and leaving only a thin margin before finance costs tip the company further into losses.
In the first quarter, administrative expenses stood at N17.7 billion, up 22.7% year-on-year. Although slightly below the estimate of N19.2 billion, the figure was still high enough to eat into profits.
The strain grew heavier in the second quarter as administrative expenses spiked to N21.3 billion, a 47.1% jump year-on-year and well above the company’s forecast of N15.6 billion, with staff costs accounting for a major chunk.
While Q3 results are still pending, the trend suggests that without decisive cost controls, the company may continue to face the same pressure.
Finance costs further compound the problem, cutting into the little margin left after administrative expenses and driving losses to the bottom line.
In the first quarter, TotalEnergies had forecast finance costs of N8.7 billion but ended up reporting N6.8 billion.
Although below the estimate, the figure was still enough to wipe out what little remained after administrative expenses, resulting in a post-tax loss of N120 million.
The second quarter followed a similar pattern, as finance costs reached N7.1 billion, slightly higher than the N6.4 billion forecast.
With finance income at just N989.9 million in Q2, profits were again eroded after administrative expenses, leaving the company with a post-tax loss of N2.7 billion.
For the company to return to profitability, it will need to rein in administrative expenses and ease the burden of finance costs, while also boosting sales and managing top-line production costs more effectively.