Total Energies Marketing Nigeria Plc has assured that the firm would increase shareholders’ value by building a robust portfolio of renewable energy assets by leveraging its Nigerian presence to develop the market.
The Chairman, Jean-Phillipe Torres, while speaking at the 2022 yearly general meeting held in Lagos at the weekend, said in addition to supplying the masses with the needed energy, the firm would also meet the challenges of climate change, fostering sustainability, ensuring safety and focusing on customer centricity.
According to him, this becomes imperative, considering its determination to become a responsible energy major and a world-class player in sustainable energy.
Besides, shareholders at the meeting approved a final dividend of N7.13 billion translating to N21 per share. The company had earlier paid an interim dividend of N1.36 billion, culminating to N4, which brings the total dividend for the 2022 financial year to N25.
Torres said the company’s turnover rose by 41 per cent from N341 billion in 2021 to N482 billion. He said profit after tax decreased from N16.8 billion to N16.1 billion due to rising costs suffered by the company during the period.
He said the company has continued to advance in the areas of non-fuel business by converting its service stations into social hubs that attract more customers beyond the energy business.
For instance, he said the introduction of the touch points products in its stations offers customers the opportunity to withdraw, deposit or pay for bills at its various stations, adding that the mobile money offer is available at over 380 stations, thereby enhancing the government’s cashless policy initiative.
He further disclosed that the company opened additional five stations, eight quick service restaurants and seven auto fast outlets for a well-equipped vehicle service and maintenance centre.
Torres said 362 stations were rebranded with the TE norm while rebranding for the remaining stations would be completed this year.
On the lubricant sales for 2022, he said the firm had increased its market share in lubricants to 15 per cent.
“Because of the global upward price of lubricants input materials and the devaluation of the Naira, lubricant prices were adjusted in 2022. TEMN Plc also concluded installation of its end-of-line automated machines which would support the increased production output of small pack lubricants (1-5 litres) by about 30 per cent.
“Our commitment to renewable energy is unwavering. By the end of the year, your company had a combined installed solar capacity of 6.5MW. We commenced a 5MW solar hybrid system in Kano and three solar hybrid systems (71Kw) were installed across the country. By the end of the year, 326 service stations had been solarised and over 750,000 solar lamps sold,” he said.
