The group’s total revenue in 2020 fell by -74.39% Y-o-Y from N229.27bn in 2019 to N58.72bn in 2020.
The company’s cost of sales (COS) dipped by -76.28% Y-on-Y from N224.32bn in 2019 to N53.21bn in 2020.
Eterna Oil’s gross profit for 2020 increased to N5.51bn from N4.95bn in 2019, representing a growth of +11.27% Y-o-Y.
The operating profit grew by +12.90% Y-o-Y from N1.34bn in 2019 to N1.54bn in 2020.
The group’s finance cost fell by -31.67% Y-o-Y from N1.49bn in 2019 to N1.02bn in 2020.
Profit before tax (PBT) increased by +391.88% Y-o-Y from N111.44m in 2019 to N548.15m in 2020.
The group’s taxation also decreased by -253.64% Y-o-Y from N255.73m in 2019 to (N392.90m) in 2020.
Eterna’s profit after tax (PAT) rose notably by +752.19% Y-o-Y to N941.06m in 2020 from N144.29m in 2019.
Total assets rose by +25.35% Y-o-Y from its N28.533bn in 2019 to N35.77bn in 2020.
The group’s total equity climbed up by +7.58% Y-o-Y in 2020.
Earnings per share rose from a negative value in 2019 by +754.55% Y-o-Y to 0.72 in 2020. A surprising repair of earnings during a COVID headwind.