Earnings ReportFeatured

Total Nigeria Plc Announces N4.00 Half Year Interim Dividend, On Positive Earnings

Coy: TOTAL NIG. PLC. (TOTAL)
Rating: Hold
Current Market Price: N168.00

Latest Interim Dividend: N4.00
Year High: N168.00
Year Low: N130.00
Fair Value: N110.68
By: Jeariogbe Tunde Segun (Equity Analyst)

Half year Earnings Brief

  • The management announced N4.00 Interim Cash Dividend
  • The closure date for the said dividend is between 16th – 20th August, 2021, while the qualification date is 13th August, 2021, Meanwhile the Payment Date is 13th September, 2021
  • The half year numbers released for the period ended 30th June, 2021 is the reflection of the various improvement in the oil and gas sector of the economy, both locally and internationally.
  • Thus, the numbers released are all positive as against the negative performance posted at the end of 2020 half year business session
  • Turnover Improved by 41.82% to stand at N151.33 billion versus N106.70 billion in the corresponding quarter
  • A total of N8.06 billion was reported as profit for the period as against N537.18 million lost after tax posted in the corresponding quarter of 2020
  • Kindly see below, for our result comparison and estimated ratios;
TOTAL NIGERIA
Bourse Nigerian Stock Exchange
Code Name TOTAL
Sector OIL AND GAS
Market Classification MAIN BOARD
Nature of Business MARKETING OF PETROLEUM PRODUCTS
Date of Incorporation Jan-06-1956
Date Listed Jan-01-1970
End of Accounting Year 31ST DECEMBER
Website www.total.com.ng
Registrar CardinalStone Registrars Limited
Auditor KPMG Professional Services
Share Price@Relsd (N)                                                      168.00
Earnings per Share                                                        23.76
Intrinsic Value(N)                                                        110.68
Share Outstanding 339,522,286
Market Capitalisation                                        57,039,744,048
TOTAL NIGERIA-H1 2021
Statement of Comprehensive Income
  2021(000) 2020(000) %CHG
Turnover 151,333,238 106,704,944 41.82
Cost of Sales 125,829,551 94,304,878 33.43
Operating Profit 12,525,969 716,812 1,847.46
OPEX 15,383,907 13,762,141 11.78
DEPRECIATION 3,384,890 3,071,833 10.19
AMORTISATION 22,266 5,570 299.75
FINANCE COST 842,010 1,954,671 56.92
NET FINANCE INCOME 747,403 192,913 487.43
PBT 11,778,566 796,920 1,578.01
TAX 3,712,976 259,732 1,329.54
PAT 8,065,590 537,188 1,601.45
TOTAL COMP INCOME 8,065,590 537,188 1,601.45
Statement of Financial Position
Current Assets 142,109,466 80,893,344 75.68
Non Current Assets 44,793,825 45,289,594 -1.09
Total Assets 186,903,291 126,182,938 48.12
Current Liabilities 148,461,640 95,761,711 55.03
Non Current Liabilities 5,620,475 4,914,368 14.37
Total Liabilities 154,082,115 100,676,079 53.05
Net Assets 32,821,176 25,506,859 28.68
Retained Earnings 32,651,415 25,337,098 28.87
Shares Outstanding 339,522 339,522  
DIVIDEND INFORMATION
Tickers 2021 2020 %Chg
Total Dividend                                        4.00                                         –   #DIV/0!
Payout Ratio 16.84% 0.00% #DIV/0!
Dividend Yield 2.38% 0.00% #DIV/0!
Sustainable Growth Rate 20.44% -2.11% 1,070.37
Financial Strength/Solvency Ratio
TICKERS 2021 2020 %CHG
Debt Ratio 82.44% 79.79% 3.33
Total Debt to Equity Ratio (MRQ) 469.46% 394.70% 18.94
Equity Ratio 17.56% 20.21% -13.13
TICKERS 2021 Industrial Average %CHG
Beta Value                                        0.53                                    0.71 -25.35
PROFITABILITY RATIOS
TICKERS 2021 2020 %CHG
EBITDA MARGIN 8.28% -0.67% 1,332.13
PRE-TAX MARGIN 7.78% -0.75% 1,142.14
EFFECTIVE TAX RATE 46.03% -48.35% 195.21
CS TO TO 83.15% 88.38% -5.92
ROE 24.57% -2.11% 1,266.84
ROA 4.32% -0.43% 1,113.66
EFFICIENCY RATIOS
  2021 2020 %Chg
OPEX TO TO 10.17% 12.90% -21.18
TO TO TA 80.97% 84.56% -4.25
Working Capital Turnover                                   (23.82)                                  (7.18) 231.96
Working Capital Ratio                                        0.96                                    0.84 13.32
Investment/Valuation Ratios
Tickers 2021 2020 %Chg
Price at Released 168.00 97.50 72.31
EPS 23.76 -1.58 1,601.45
TCIP/SHARE 23.76 -1.58 1,601.45
P/E-Ratio 7.07 -61.62 111.48
Earnings Yield 14.14% -1.62% 971.38
BV/Share 96.67 75.13 28.68
PBV 1.74 1.30 33.91

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Earnings ReportFeatured

Total Nigeria Plc Announces N4.00 Half Year Interim Dividend, On Positive Earnings

Coy: TOTAL NIG. PLC. (TOTAL)
Rating: Hold
Current Market Price: N168.00

Latest Interim Dividend: N4.00
Year High: N168.00
Year Low: N130.00
Fair Value: N110.68
By: Jeariogbe Tunde Segun (Equity Analyst)

Half year Earnings Brief

  • The management announced N4.00 Interim Cash Dividend
  • The closure date for the said dividend is between 16th – 20th August, 2021, while the qualification date is 13th August, 2021, Meanwhile the Payment Date is 13th September, 2021
  • The half year numbers released for the period ended 30th June, 2021 is the reflection of the various improvement in the oil and gas sector of the economy, both locally and internationally.
  • Thus, the numbers released are all positive as against the negative performance posted at the end of 2020 half year business session
  • Turnover Improved by 41.82% to stand at N151.33 billion versus N106.70 billion in the corresponding quarter
  • A total of N8.06 billion was reported as profit for the period as against N537.18 million lost after tax posted in the corresponding quarter of 2020
  • Kindly see below, for our result comparison and estimated ratios;
TOTAL NIGERIA
Bourse Nigerian Stock Exchange
Code Name TOTAL
Sector OIL AND GAS
Market Classification MAIN BOARD
Nature of Business MARKETING OF PETROLEUM PRODUCTS
Date of Incorporation Jan-06-1956
Date Listed Jan-01-1970
End of Accounting Year 31ST DECEMBER
Website www.total.com.ng
Registrar CardinalStone Registrars Limited
Auditor KPMG Professional Services
Share Price@Relsd (N)                                                      168.00
Earnings per Share                                                        23.76
Intrinsic Value(N)                                                        110.68
Share Outstanding 339,522,286
Market Capitalisation                                        57,039,744,048
TOTAL NIGERIA-H1 2021
Statement of Comprehensive Income
  2021(000) 2020(000) %CHG
Turnover 151,333,238 106,704,944 41.82
Cost of Sales 125,829,551 94,304,878 33.43
Operating Profit 12,525,969 716,812 1,847.46
OPEX 15,383,907 13,762,141 11.78
DEPRECIATION 3,384,890 3,071,833 10.19
AMORTISATION 22,266 5,570 299.75
FINANCE COST 842,010 1,954,671 56.92
NET FINANCE INCOME 747,403 192,913 487.43
PBT 11,778,566 796,920 1,578.01
TAX 3,712,976 259,732 1,329.54
PAT 8,065,590 537,188 1,601.45
TOTAL COMP INCOME 8,065,590 537,188 1,601.45
Statement of Financial Position
Current Assets 142,109,466 80,893,344 75.68
Non Current Assets 44,793,825 45,289,594 -1.09
Total Assets 186,903,291 126,182,938 48.12
Current Liabilities 148,461,640 95,761,711 55.03
Non Current Liabilities 5,620,475 4,914,368 14.37
Total Liabilities 154,082,115 100,676,079 53.05
Net Assets 32,821,176 25,506,859 28.68
Retained Earnings 32,651,415 25,337,098 28.87
Shares Outstanding 339,522 339,522  
DIVIDEND INFORMATION
Tickers 2021 2020 %Chg
Total Dividend                                        4.00                                         –   #DIV/0!
Payout Ratio 16.84% 0.00% #DIV/0!
Dividend Yield 2.38% 0.00% #DIV/0!
Sustainable Growth Rate 20.44% -2.11% 1,070.37
Financial Strength/Solvency Ratio
TICKERS 2021 2020 %CHG
Debt Ratio 82.44% 79.79% 3.33
Total Debt to Equity Ratio (MRQ) 469.46% 394.70% 18.94
Equity Ratio 17.56% 20.21% -13.13
TICKERS 2021 Industrial Average %CHG
Beta Value                                        0.53                                    0.71 -25.35
PROFITABILITY RATIOS
TICKERS 2021 2020 %CHG
EBITDA MARGIN 8.28% -0.67% 1,332.13
PRE-TAX MARGIN 7.78% -0.75% 1,142.14
EFFECTIVE TAX RATE 46.03% -48.35% 195.21
CS TO TO 83.15% 88.38% -5.92
ROE 24.57% -2.11% 1,266.84
ROA 4.32% -0.43% 1,113.66
EFFICIENCY RATIOS
  2021 2020 %Chg
OPEX TO TO 10.17% 12.90% -21.18
TO TO TA 80.97% 84.56% -4.25
Working Capital Turnover                                   (23.82)                                  (7.18) 231.96
Working Capital Ratio                                        0.96                                    0.84 13.32
Investment/Valuation Ratios
Tickers 2021 2020 %Chg
Price at Released 168.00 97.50 72.31
EPS 23.76 -1.58 1,601.45
TCIP/SHARE 23.76 -1.58 1,601.45
P/E-Ratio 7.07 -61.62 111.48
Earnings Yield 14.14% -1.62% 971.38
BV/Share 96.67 75.13 28.68
PBV 1.74 1.30 33.91

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