TotalEnergies Marketing Ghana PLC has reported a remarkable financial performance for the year ended December 31, 2024, with its profit after tax surging to GHS 286.67 million, a significant increase from GHS 167.91 million in 2023.
This strong growth was fueled by higher revenue and enhanced operational efficiency, reinforcing the company’s position as a leading player in Ghana’s petroleum industry.
TotalEnergies’ annual revenue climbed to GHS 6.99 billion, up from GHS 6.04 billion in 2023, reflecting increased sales and strategic market expansion. However, the cost of sales also rose to GHS 6.21 billion, compared to GHS 5.43 billion the previous year.
The company recorded a gross profit of GHS 781.54 million, while its operating profit before financing costs stood at GHS 480.76 million, marking a notable rise from GHS 322.35 million in 2023.
Beyond its profitability, TotalEnergies Marketing Ghana made a substantial 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
- GHS 222.6 million to the Unified Petroleum Price Fund (UPPF)
- GHS 180.3 million in other petroleum taxes
- GHS 96.5 million in corporate taxes
- GHS 74.4 million in import duties
- GHS 66.7 million in withholding taxes
- GHS 21.5 million under the GSL
- GHS 14.4 million in PAYE contributions
With basic earnings per share increasing to GHS 2.5624, up from GHS 1.5009 in 2023, the company continues to generate value for its shareholders while maintaining a solid financial foundation.
Speaking at the Facts Behind the Figures event hosted by the Ghana Stock Exchange, Managing Director Olufemi Babajide expressed optimism about the company’s future.
“Despite the challenging macroeconomic environment, we navigated through 2024 successfully, delivering record-breaking performance. In 2025, we remain committed to expanding our business and providing clean, affordable, and high-quality energy solutions to our customers,” he stated.
TotalEnergies Marketing Ghana’s resilience and contributions to national revenue highlight its crucial role in the petroleum sector, as it continues to drive growth and innovation in the industry.
