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LAGOS – Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter, has provided update on its operating and financial performance for the nine months to 30 September 2025. All figures are unaudited.
The update shows that Savannah has continued its growth trajectory, with appreciable increase in its Total Revenues and cash collections.
Total Revenues during the period was US$185.2 million, up 9% compared to the Total Revenues of US$169.3 million in the first nine months in 2024, just as its cash collectionsroseby5% toUS$241.6million compared to US$229.3 million in the corresponding period in 2024. The company also reported cash balances of US$101.8 million, which as of 31 December 2024 stood at US$32.6 million.
Net debt and trade receivables balance continue to see improvements, reducing by 1% and 9%, respectively to 30 September 2025 since YE24.
The company’s net debt as of 30 September 2025 stood at US$629.9 million (it was US$636.9 million by 31 December 2024), withGrossdebtatUS$731.7million, of which only US$41.4 million (6%) was recourse to PLC. Its Trade Receivables balance as of 30 September 2025 was US$493.3 million, a 9% improvement on year-end 2024 of US$538.9 million.
According to the update, agreements have been signed with a consortium of five Nigerian banks in respect of an increase in the Accugas debt facility from NGN340 billion (approximately US$222 million) to up to approximately NGN772 billion (approximately US$500 million).
It is expected that the Transitional Facility will be utilised to enable the remaining outstanding balance of the Accugas US$ Facility to be repaid by end 2025.
