Transcorp Power records 30% year-on-year revenue growth to N398.27bn

Transcorp Power Plc has posted a 30 per cent year-on-year increase in revenue, reaching N398.27 billion for the financial year ended December 31, 2025, up from N305.94 billion in 2024, as improved generation capacity and tighter financial management boosted performance.

The power generation company, listed on the Nigerian Exchange as TRANSPOWER and a subsidiary of Transnational Corporation Plc (Transcorp Group), also reported profit after tax of N91.42 billion, a 14 per cent rise from N80.01 billion in the previous year. Gross profit climbed to N162.44 billion from N142.21 billion, while earnings per share rose to N12.19 from N10.67.

Total assets expanded by 42 per cent to N563.48 billion from N396.78 billion, and shareholders’ equity increased by 44 per cent to N183.40 billion from N126.63 billion. Borrowings were reduced to N30.7 billion from N37.7 billion, reflecting a deliberate effort to strengthen the balance sheet.

According to the company, performance in 2025 was driven largely by enhanced generation capacity and disciplined financial management. The return of GT20 added 100MW to the national grid from January 3, 2025, improving overall output, while more than N7 billion was paid down in borrowings to reduce leverage.

Chairman of Transcorp Power Plc, Emmanuel Nnorom, said the results reflect the company’s long-term strategy. 

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“We remain dedicated to improving lives and transforming Africa, ensuring operational excellence and making strategic investments that deliver sustainable, long-term value to our shareholders, while also powering Nigeria’s socioeconomic development,” he said.

On the back of the stronger financial position, the board proposed a full-year dividend of N5.50 per share for 2025, comprising an interim dividend of N1.50 paid on August 18, 2025, and a final dividend of N4.00. This represents a 10 per cent increase over the previous year.

Managing director and chief executive officer, Peter Ikenga, said capacity improvements supported revenue growth despite grid constraints. “During the year, we increased our average available capacity from 417MW to 550MW and improved average generation output despite grid and transmission line-related issues,” he said.

He added that while transmission challenges affected evacuation, the company’s outlook remains strong. “Notwithstanding the network transmission line issues, our FY 2025 performance remained strong and reflects our steadfast commitment to operational excellence and sustainable growth. We will continue to work with relevant stakeholders, particularly the Transmission Company of Nigeria, to strengthen transmission lines and improve evacuation from our plant in 2026 and beyond.”

Transcorp Power said it will continue to leverage its leadership position in the power sector to support Nigeria’s energy transition, enhance grid reliability and deliver sustainable returns to shareholders while contributing to national development.