GOIL increased profit through discipline and cost optimisation

Board Chairman of GOIL PLC, Nana Philip Archer, has attributed the company's improved profitability in 2025 to disciplined cost management and operational efficiency measures, despite a decline in revenue and challenging conditions within the petroleum industry.

According to him, deliberate reforms aimed at reducing depot and station expenses, administrative costs, and finance-related charges enabled the company to record stronger earnings during the year.

The measures helped GOIL increase its net profit after tax by 7.05 percent to GH¢90.67 million in 2025, up from GH¢84.70 million in 2024, even as gross revenue declined from GH¢20.36 billion to GH¢18.55 billion.

Speaking in the company's annual report, Mr Archer said the improved performance demonstrates GOIL's ability to convert operational discipline into sustainable shareholder value.

"The improved earnings per share, which rose by 6.94%, demonstrate our growing ability to translate operational discipline into sustained shareholder value," he stated.

The stronger financial performance has prompted the Board to declare a dividend of GH¢0.060 per share for the 2025 financial year, amounting to approximately GH¢23.5 million. The payout represents the first increase in dividend distribution in three years.

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Key financial indicators also reflected the company's progress, with Earnings Per Share rising from GH¢0.2160 in 2024 to GH¢0.2310 in 2025. GOIL's share price also appreciated significantly from GH¢1.52 to GH¢2.96 over the same period.

Archer further disclosed that the company's total assets grew to GH¢4.88 billion during the year, while reductions in overdraft facilities and term loan obligations strengthened its balance sheet.

He revealed that GOIL plans to expand the storage capacity of its GOBitumen business to 12,000 metric tonnes by the end of 2026 to improve operational efficiency and service delivery.

He also highlighted the company's commitment to maintaining high Health, Safety, Security, Environment and Quality (HSSEQ) standards.

"In 2025, GOIL successfully attained ISO 45001:2018 certification while retaining ISO 9001 and ISO 14001 certifications, reinforcing our dedication to global best practices. Nationwide, 3,144 HSSEQ inspections were conducted with all identified non-conformities fully resolved," he said.

Archer noted that GOIL maintained full environmental compliance throughout the year and continued to invest in staff training programmes to strengthen safety and accountability across its operations.

He also said the company supported several community projects, including the donation of hospital beds and medical equipment as well as the construction of boreholes in underserved communities.

"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," he added.

He expressed confidence that GOIL would continue to pursue innovation, strategic leadership and operational discipline to sustain growth and create long-term value for shareholders and stakeholders.

ANAS/ EB

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