Key Performance Metrics

  • The review of Net Profit Margin witnessed a mixed trend. The Net Profit Margin deteriorated from 37.81% in 2019 to 9.48% in 2023.
  • The average EBIT Margin for the period under analysis was 26.55 % with 2019 and 2020 performing the worst and best, respectively.
  • In the current year, Seplat ICR was 4.18 times – compared to 2019 when it was 15.55.
  • The Capex to Sale stood at -0.01 times in 2023 from 0.49 in 2019, implying a poor performance or Assets of the business in relation to revenue.


  • The revenue of Seplat has shown a mixed trend year on year. The revenue decreased by 23.98between 2019 and 2020 and a further 38.22% increase was recorded between 2020 and 2021. There also occurred an increase of 11.5% between 2022 and 2023 (the current period). 
  • Seplat’s performance in profitability looks good as the return on capital employed also recorded good performance during the period of analysis.


  • The company’s result in liquidity looks good, as current ratio/acid test increase from 1.50:1/1.36:1 to 1.36:1/1.29:1 on the last year. Which implies that the company to have enough assets to settle its current liabilities.

Capital Structure

  • Seplat is both equity and debt financed.
  • The debt-to-equity (D/E) ratio has been falling year on year. The gearing position of the company appears to be low as it stood at 0.81 in the current year.

Source: Seplat Annual Report

Share This Showroom

Open chat
Need Help?
Powered by BFI Insights
Hello 👋
How can we assist you today?