GOIL posts higher profit, unveils GH¢1billion bond programme to drive expansion

GOIL PLC, Ghana’s leading indigenous oil marketing company, has reported improved profitability for the 2025 financial year and announced plans to establish a GH¢1 billion bond programme to support future growth and expansion.

The announcement was made at the company’s 57th Annual General Meeting (AGM), where management highlighted strong operational performance despite challenges in both the global and domestic petroleum markets.

According to a statement issued by GOIL’s Corporate Affairs Unit, net profit after tax increased by 7.05 percent to GH¢90.67 million in 2025, compared with GH¢84.70 million in 2024. Profit before tax also rose to GH¢123.37 million, reflecting the company’s focus on operational efficiency and prudent cost management.

GOIL recorded gross revenue of GH¢18.55 billion during the year, maintaining its position as one of Ghana’s largest indigenous petroleum marketing companies.

The company attributed the improved profitability to disciplined management of depot and station operations, reduced administrative expenses and effective control of finance costs.

The results also translated into stronger shareholder value. Earnings per share rose from GH¢0.2160 in 2024 to GH¢0.2310 in 2025, while GOIL’s share price nearly doubled, climbing from GH¢1.52 at the end of 2024 to GH¢2.96 by the close of 2025.

The Board has proposed a final dividend of GH¢0.060 per share, representing a total payout of approximately GH¢23.5 million to shareholders.

A major highlight of the AGM was the proposal to establish a GH¢1 billion Medium-Term Note Programme, which is expected to provide the company with flexible access to long-term capital for business expansion, infrastructure development and strategic investments across the downstream petroleum sector.

The company also reaffirmed its commitment to sustainable business practices, reporting continued investment in environmental stewardship, health and safety standards, ethical governance and corporate social responsibility initiatives.

Speaking at the AGM, Board Chairman Nana Philip Archer said 2025 was marked by significant global economic uncertainty, including volatile crude oil prices and persistent supply chain disruptions.

“Despite these challenges, GOIL responded with discipline, prudence and strategic efficiency measures, enabling the company to deliver a commendable performance,” he said.

Addressing shareholders, Nana Archer noted that the Board had responded to calls for improved returns.

“Dear shareholders, last year you challenged us to improve returns, and we listened. Today, I am pleased to announce that the Board is recommending a dividend of GH¢0.060 per share for 2025, representing a 7.14 percent increase over the previous year.

“Though modest, this marks the first increase in three consecutive years and stands as a powerful signal that GOIL is firmly charting a path of recovery, growth and renewed market leadership,” he stated.

He said GOIL continued to deepen operational efficiency through automation and process optimisation while maintaining a strong focus on Health, Safety, Security, Environment and Quality (HSSEQ).

According to him, the company attained ISO 45001:2018 certification in 2025 and retained its ISO 9001 and ISO 14001 certifications, reinforcing its commitment to international best practices.

Nana Archer disclosed that GOIL conducted 3,144 HSSEQ inspections nationwide during the year, with all identified non-conformities successfully addressed. He added that environmental compliance remained strong and extensive staff training programmes further strengthened safety and accountability across the organisation.

Beyond its financial performance, GOIL continued to invest in community development through a range of corporate social responsibility initiatives.

The company donated hospital beds to the Feo Clinic, maintained its sponsorship of the National Science and Maths Quiz to support STEM education and constructed mechanised boreholes to improve access to potable water in underserved communities.

GOIL also supported the kidney surgery of Mr Isaac Baba Anagi in India and extended assistance to institutions including the Lakeside Police MTTD, Accra Psychiatric Hospital, the Ghana Society for the Physically Challenged and the Golden Chapter Foundation.

“These initiatives reflect our enduring belief that true corporate success must be measured not only by profit but also by the positive and lasting impact we make in the lives of people and communities,” Nana Archer said.

With stronger profitability, improved shareholder returns and plans to raise long-term capital through the proposed bond programme, GOIL enters the new financial year with a strategy focused on sustaining growth and consolidating its leadership position in Ghana’s petroleum industry.

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