TotalEnergies records strong performance in 2024
Totalenergies Marketing Ghana PLC, a global multi-energy company, posted an impressive profit-after-tax of GH¢277 million for the 2024 financial year, representing a 63 per cent increase from GH¢169 million in 2023.
Speaking at the company’s session during the “Facts Behind the Figures” forum, organised by the Ghana Stock Exchange (GSE) in Accra on Thursday, the managing director of TotalEnergies Marketing Ghana PLC, Mr Olufemi Babajide, attributed the strong performance to an 11 per cent increase in sales volumes and a reduction in operational costs.
The forum provided a platform for listed companies to engage with key stakeholders, investors, and the public.
Mr Babajide revealed that the company recorded a sales revenue of GH¢6.1 billion in 2024, reflecting an 11 per cent growth over the previous year.
He also stated that TotalEnergies contributed approximately GH¢1.7 billion to Ghana’s tax revenue in 2024, reinforcing the company’s role as a key development partner and large taxpayer.
Expressing optimism about future growth, Mr Babajide emphasized that the company’s performance was expected to improve further in 2025 due to the robust strategies adopted by the Board and the management committee.
He disclosed that the company had planned to begin supplying bio-aviation fuel this year, demonstrating its commitment to innovation and sustainability.
“Our focus is not only on making a profit but also on contributing significantly to the Ghanaian economy,” Mr Babajide emphasised.
He noted that TotalEnergies provided direct and indirect employment to over 6,700 Ghanaians.
Moreover, the Managing Director indicated that contractors and transporters working with the company benefitted from financial, technical, and training support to enhance their operations in the downstream of oil and gas sector.
Under the Young Dealer Scheme, he said TotalEnergies supported customer attendants to become station managers (dealers) without any startup capital.
Deputy Managing Director of the GSE, Mr Frank Berle, praised the company for its outstanding performance.
BY KINGSLEY ASARE
