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Tag: Transcorp Group

  • Transcorp Group: Electricity Act, operational efficiency, boost Q3 results

    Transcorp Group: Electricity Act, operational efficiency, boost Q3 results

    Transnational Corporation Plc (Transcorp Plc) has listed key drivers of the sterling performance it achieved in its unaudited third quarter 2025 financial results.

     Speaking during the investors’ call and Transcorp Q3 Analyst Presentation, President/Group CEO of Transcorp Plc, Dr. Owen Omogiafo, said Electricity Act 2023 which activated state level regulation, allowing development of state electricity markets and attracting localized investments, supported the group’s operations and performance in Q3.

     She said Transcorp Group’s upgraded operational efficiency through continuous process improvement as well as the growth in grid-connected generation capacity, boosted its operations and profitability within the quarter.

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     With the move, average available capacity rose to 5,639 MW and plant availability factor improved by 41 per cent, boosting the business success.

     Omogiafo said that the Group has secured government building approval for the Transcorp Ikoyi Hotel.  “One of the great strides we’ve made is that we’ve secured the government building approval and received the government’s consent for that development. As you know, the development is across 24 floors. We’re going to have a 900 seater ballroom, modernized back of house facilities,“ she said.

     She said that Heirs Energy Limited has been instrumental to the turnaround of the Transafam Power Limited, because they usually supply the plants with the necessary gas to keep the turbines running effectively. That has led to a turnaround in the amount of power being generated and supplied to the grid.

     Transcorp reported a 39 per cent increase in revenue to N413.4 billion in its unaudited third quarter 2025 financial results.

  • Transcorp group’s partnership with Elumelu’s Heirs Energies boosts power generation

    Transcorp group’s partnership with Elumelu’s Heirs Energies boosts power generation

    A consistent and increased supply of gas from Tony Elumelu’s Heirs Energies is directly enabling improved power generation at Transcorp Group’s power subsidiaries–Transcorp Power Plc and Transafam Power Limited–solidifying the Group’s capacity to deliver enhanced value.

    Dr Owen Omogiafo, President and Group Chief Executive Officer of Transcorp, confirmed the pivotal role of Heirs Energies at the conglomerate’s Investor and Analyst Conference held on Tuesday, to discuss the Group’s impressive Q3 2025 results. 

    During the conference, she stated Transcorp Power and Transafam Power will remain focused on increasing generating capacity in the fourth quarter, with the former, Transcorp Power, targeting “750 megawatts of available capacity.”

    “The average for the year will be 620 when you average from January to December 31. Of that 620, we target to generate 528 megawatts on average, with a peak generation of 590. As of Q3, we’re already at 424, and we are on track to achieve what we set out to do,” she highlighted.

    “For Trans-Afam, we have successfully relocated four turbines from Afam to Ughelli, and we are finalising all the electrical connections. They’ve all been successfully tied to the grid, and one continues to operate, but we’re going to conclude the remaining three. And this week, push on with that generation.”

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    In the mix is the provider of the critical gas to power the turbines, Heirs Energies. Dr Owen said, “Heirs Energies has improved their gas, having brought back to life a gas well which is now providing supplies to the turbines that we have left in Afam as well as Ughelli”.

    This assured gas supply from Heirs Energies has empowered Transcorp Group’s two power subsidiaries to set ambitious generation targets for the remainder of the year. Transcorp Power is targeting 750 megawatts of available capacity by year-end, while Transafam Power is targeting 378 megawatts. This enhanced operational capacity positions Transcorp Group to contribute more significantly to the national grid and create sustained value for its shareholders.

    The Group recorded a 39% year-on-year increase in revenue, rising from ₦297.7 billion in Q3 2024 to ₦413.4 billion in Q3 2025. Profit Before Tax (PBT) grew by 18%, closing at ₦124.5 billion, compared to ₦105.5 billion in the same period last year. 

    Transnational Corporation Plc (Transcorp Group) is one of Africa’s leading, listed conglomerates, with strategic investments in the power, hospitality, and energy sectors, driven by its mission to improve lives and transform Africa. 

    Transcorp’s power businesses, Transcorp Power Plc and Transafam Power, provide over 20% of Nigeria’s installed power capacity. Transcorp is committed to developing Nigeria’s domestic energy value chain through its investments in OPL281. The Group’s hospitality business, Transcorp Hotels Plc, owns the iconic Transcorp Hilton Abuja, Nigeria’s flagship hospitality destination and Nigeria’s largest event venue, the Transcorp Centre Abuja.

  • Transcorp Group posted N279.7b revenue in six months

    Transcorp Group posted N279.7b revenue in six months

    Transnational Corporation Plc has announced N279.7 billion revenue in its first half unaudited results for the period ended June 30, 2025.

    The performance represents a 59 per cent rise from N175.4 billion it achieved in 2024.

    Its profit before tax grew by 21 per cent, to close at N85.7 billion compared to N70.9 billion recorded in the first half of 2024.

    Despite continuing economic headwinds, Nigeria’s bellwether stock, with a portfolio that spans power, resources and hospitality continues to deliver for shareholders – and make significant investments in Nigerian infrastructure. Notable highlights of the period included the launch of the Transcorp Centre in Abuja, Nigeria’s state of the art convention and events centre, which has already hosted international leaders and major regional events.

    Transcorp Group continued its healthy profitability trajectory in first half of 2025, with a 21 per cent PBT growth of N85.7 billion, compared to N70.9 billion in the same period last year.

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    In line with its commitment to delivering value to shareholders, the Company has declared an interim dividend of N4.064 billion representing 40 kobo per ordinary share subject to applicable withholding tax.

    Chairman Transnational Corporation Plc, Tony Elumelu, comments: “Delivering on our impact driven, value creating mission, we continue to advance strategic investments across key sectors in Nigeria. In power, Transcorp Power and Transafam Power increasingly innovate to improve lives, transforming Nigeria. In hospitality, we continue to delight our clients and redefine our sector, not least with the opening in Abuja of the Transcorp Centre, Nigeria’s superlative events centre. Our growth demonstrates the resilience and strength of our diversified business model. We remain dedicated to achieving our strategic vision, rewarding our valued shareholders, and driving the sustainable transformation of Nigeria’s economy.”

    President/Group Chief Executive Officer, Owen Omogiafo, comments: “The Q2 2025 financial performance reflects our firm commitment to operational excellence and the resilience inherent in our corporate strategy, which has further enhanced our capacity to effectively navigate challenges. This adaptability has enabled us to thrive within a dynamic business landscape while consistently delivering value to our stakeholders.

    With our new 5,000-seat capacity event centre, we are positioning Nigeria as the epicentre of high-scale conferences and events, including hosting the recently concluded AFREXIM Annual Meetings 2025. We continuously explore innovative ways to further accelerate our growth trajectory while strengthening our leadership in Nigeria’s power, hospitality, and energy sectors.”

    Transnational Corporation Plc (Transcorp Group) is one of Africa’s leading, listed conglomerates, with strategic investments in the power, hospitality, and energy sectors, driven by its mission to improve lives and transform Africa.

  • Transcorp Group doubles turnover to N408b

    Transcorp Group doubles turnover to N408b

    • Profit rises by 132%

    Nigeria’s leading conglomerate, Transnational Corporation (Transcorp) Plc achieved remarkable growths in incomes and profit in 2024, reinforcing its market leadership and strategic positioning.

    Key extracts of the audited report and accounts of Transcorp for the year ended December 31, 2024 showed that the financial results were consistent with the group’s track record of outstanding performance.

    The group sustained its strong growth trajectory across financial indicators with turnover rising by 107 per cent from N197 billion in 2023 to N408 billion in 2024. Profit before tax grew by 132 per cent to N136.7 billion, compared with N58.8 billion in the previous year. Profit after tax jumped by 188 per cent to N94.1 billion in 2024, from N32.6 billion in 2023.

    According the financial results, operating Income grew by 83 per cent, to N149.0 billion in 2024, up from N81.4 billion in the corresponding period in 2023.

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    Further analysis showed that operating expenses saw an increase of 105 per cent year to N62.8 billion in 2024, reflecting the impact of inflation and strategic investments in operational capacity. Net Finance cost decreased by 45 per cent to N12.4 billion, owing to the complete repayment of foreign currency loans.

    Also, shareholders’ funds grew by 45 per cent, from N87.3 billion in 2023 to N271.7 billion in 2024, supported by profit accretion to retained earnings. The company declared N10.1 billion full year dividend, representing N1 per ordinary share for the 2024 business year.

    President and Group Chief Executive Officer, Transnational Corporation (Transcorp) Plc, Mrs. Owen Omogiafo, said the 2024 financial performance reflected the sustainable value creation strategy of Transcorp Group.

    According to her, the group has been able to consistently record impressive growth across all indices year on year, despite the challenging macroeconomic environment.

    “In the sectors we operate, we have delivered consistent growth by leveraging operational efficiency, strategic investments, and an uncompromising focus on value creation for our shareholders.

    “Looking ahead, we will deepen our growth trajectory by seizing emerging opportunities, and strengthen our position across Nigeria’s power, hospitality, and energy sectors, even as we consider more sectors that take us closer to our purpose of improving lives and transforming Africa,” Omogiafo said.

    She assured that Transcorp is dedicated to its transformation agenda, emphasizing sustained growth and a relentless pursuit of long-term value for shareholders.

    Transcorp Group, one of Africa’s leading listed conglomerates, has strategic investments in the power, hospitality, and energy sectors. Transcorp’s power businesses – Transcorp Power Plc and TransAfam Power Limited – provide approximately 20 per cent of Nigeria’s installed power capacity.

    Transcorp has also shown commitment to developing Nigeria’s domestic energy value chain, through its investments in OPL28 and its renewable energy drive through Transcorp Energy Limited. The group’s hospitality business, Transcorp Hotels Plc, owns the iconic Transcorp Hilton Abuja, Nigeria’s flagship hospitality destination.

  • Transcorp Group posts N298b revenue in Q3

    Transcorp Group posts N298b revenue in Q3

    Transnational Corporation Plc (Transcorp Group) has reported its financial results for the third quarter ending September 30, 2024, showcasing remarkable year-on-year growth.

    The Group’s third quarter 2024 unaudited results demonstrate strength across key financial performance measures, highlighting the success of its growth-driven strategy.

    In the third quarter of 2024, Transcorp Group achieved revenue of N298 billion, a 133% increase from N128 billion recorded in the same period of 2023. Profit before tax (PBT) increased by a remarkable 303 per cent to N105.5 billion, compared to N26.2 billion recorded in Q3 2023, further solidifying the Group’s position in Nigeria’s business landscape.

    Key Financial Highlights showed profit before tax surged by 303 per cent to N105.5 billion in Q3 2024, from N26.2 billion in the same period last year.

    Total Assets: Grew by 29 per cent increasing from N530 billion in December 2023 to N684 billion in Q3 2024.

    Shareholders’ Funds: Increased by 34 per cent, from N187 billion in December 2023 to N251 billion in Q3 2024, driven by profit accreting to retained earnings.

    Operating Expenses increased by 38 per cent to N32 billion in Q3 2024, compared to N23 billion in the previous year, reflecting the impact of inflation on the cost of operations.

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    Net Finance Cost: Increased by 12 per cent to N12 billion in Q3 2024, from N10 billion in Q3 2023, due to rising interest rates.

    Owen Omogiafo, President/Group Chief Executive Officer, Transcorp Group, attributed the Group’s exceptional performance to its focus on innovation, operational excellence, and ability to navigate a complex market environment.

    She said: “We are proud of our consistent year-on-year growth. This remarkable financial performance is a reflection, once again, of our vision and spirit of execution. As we approach year end, we will focus on enhancing operational efficiency, investing in high-growth sectors, and delivering long-term value to our shareholders. We are investing for the future, particularly in the energy and hospitality sectors, delivering for our shareholders and our nation.”