Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,864,965 members, 6,874,550 topics. Date: Sunday, 22 May 2022 at 01:36 AM

Oando Posts 2014-FY And Q1-2015 Results - Investment - Nairaland

Nairaland Forum / Nairaland / General / Investment / Oando Posts 2014-FY And Q1-2015 Results (22095 Views)

MMM Posts Christmas Greeting. Angry Participants React (Photos) / Stock Market Shareholders Lose N1.15trn In Q1 / PZ Cussons Will Pay 61kobo As Dividend For 2015 FY (2) (3) (4)

(1) (2) (3) (4) (Reply) (Go Down)

Oando Posts 2014-FY And Q1-2015 Results by davide470(m): 9:02pm On Oct 23, 2015
Oando Plc on Friday posted its long- awaited 2014 FY results, along with its Q1 2015 results.

The results show that Oando racked up record after-tax losses of N183.9 billion in FY 2014, far worse than analysts had estimated.

Oando’s mounting losses continued into 2015, with a N20.9 billion after tax loss in Q1 2015. FY 2014 total revenue fell by 5% to N424 billion from N449.8 billion, while Q1 2015 revenue increased by 83% to N33 billion, up from N18 billion in Q1 last year 2014.

The results also reveals a huge operating expense of about N225 billion in the last quarter of 2014 as the chief driver of the losses. The nature of the losses suggest it was a huge write down on impaired assets which is not a surprise to many analysts. Investors had estimated that it could take huge impairments on the ConocoPhilips assets acquired in 2014 just about when the price of oil was at its peak before it fell by over 60% throughout 2015. It is also thought to be as a result of other assets thought to be in a pretty bad shape as the oil industry continue face negative
headwinds.

The company is expected to release its facts behind the figure report in due course and will surely reveal
exactly what happen. For now, all eyes would be on the intangible assets of N253 billion currently sitting on its balance sheet as at June 2015.

Could it be the next can of worms waiting to be unleashed?

http://nairametrics.com/record-loss-oando-beats-estimates-posts-record-n183-billion-loss-in-fy-2014/

If only they waited a bit to acquire Conoco Phillips, the loss would not have been massive as this. All the hedging done by OER, the disposal of most of the downstream assets still could not increase the bottom line..

Oando Share Price closed at 9.96 (-4.23%) as at 23/10/15

8 Likes 2 Shares

Re: Oando Posts 2014-FY And Q1-2015 Results by ElDeeVee(m): 9:08pm On Oct 23, 2015
Touching story
Re: Oando Posts 2014-FY And Q1-2015 Results by SeverusSnape(m): 9:10pm On Oct 23, 2015
Loses every where since this Daura magician came on board. This must be a curse.

...change my foot.

81 Likes 4 Shares

Re: Oando Posts 2014-FY And Q1-2015 Results by Nobody: 9:21pm On Oct 23, 2015
bad omen everywhere

9 Likes

Re: Oando Posts 2014-FY And Q1-2015 Results by Nobody: 9:24pm On Oct 23, 2015
These are difficult times in the oil and gas industry. The asset impairment is caused majorly by the sharp fall in prices of crude oil. This is just a phase; Oando will surely bounce back!!

9 Likes 1 Share

Re: Oando Posts 2014-FY And Q1-2015 Results by macaranta(m): 9:33pm On Oct 23, 2015
seriously....more job cuts expected .

6 Likes

Re: Oando Posts 2014-FY And Q1-2015 Results by AYOdeji2102: 9:53pm On Oct 23, 2015
Ok
Re: Oando Posts 2014-FY And Q1-2015 Results by Nobody: 9:54pm On Oct 23, 2015
SeverusSnape:
Loses every where since this Daura magician came on board. This must be a curse.
...change my foot.]
Dude this has nothing to do with Buhari, Oando had to impair one of their asset (investment) they purchased last year due to dwindling price of oil.

The nature of the losses suggest it was a huge write down on impaired assets which is not a surprise to many analysts. Investors had estimated that it could take huge impairments on the ConocoPhilips assets acquired in 2014 just about when the price of oil was at its peak before it fell by over 60% throughout 2015.

21 Likes

Re: Oando Posts 2014-FY And Q1-2015 Results by lilprinze: 9:54pm On Oct 23, 2015
ever since this bad luck called buhari became president nothing
good seems to be happening in this country anymore

17 Likes

Re: Oando Posts 2014-FY And Q1-2015 Results by veraponpo(m): 9:54pm On Oct 23, 2015
Jonathan destroyed this country.

Most of the reports of 2014 up to first quarter of 2015 were bad.

The worst part was the fact that states were owing staff and federal government borrowing to pay salaries forthe first time in the history of this country.

When there was civil 1967 to 1970, Awolowo did not borrow and still gave the Igbos 20 pounds each after the war.

Shame on Jonathan who failed in plenty.

54 Likes 2 Shares

Re: Oando Posts 2014-FY And Q1-2015 Results by amanze15(m): 9:55pm On Oct 23, 2015
SeverusSnape:
Loses every where since this Daura magician came on board. This must be a curse.
haba did you even read the post? do you even know the economy of the oil and gas and EP fear God and use the internet to your strength undecided

21 Likes 2 Shares

Re: Oando Posts 2014-FY And Q1-2015 Results by dunkem21(m): 9:55pm On Oct 23, 2015
OK o ..
Re: Oando Posts 2014-FY And Q1-2015 Results by ephsiba(m): 9:55pm On Oct 23, 2015
Have you been battling with Pimples or Skin irritation all your life and you just need a clear face or smooth and beautiful skin... Or you probably want Sunburn treatment, Skin growth, detoxification, Ageless drink, Reparative for demage skin bleach, Skin balancing treat, lightening and toning body milk(y)
You need a Professional Cosmetologist and Therapeutic that will make the face and your skin look relax without affect expression.. Contact Kwem Skin Care today... at 17 Tokunbo Ali off Toyin Street, Ikeja, Lagos or call 08037216982, 08117930462
Re: Oando Posts 2014-FY And Q1-2015 Results by cokacoola(m): 9:55pm On Oct 23, 2015
Just "100likes" for my birthday please Nairalanders

22 Likes

Re: Oando Posts 2014-FY And Q1-2015 Results by macpetrus(m): 9:55pm On Oct 23, 2015
bad news
Re: Oando Posts 2014-FY And Q1-2015 Results by initialize(m): 9:55pm On Oct 23, 2015
Not nice
Re: Oando Posts 2014-FY And Q1-2015 Results by superior1: 9:55pm On Oct 23, 2015
[size=20pt]No more subsidy awuuf[/size]

7 Likes

Re: Oando Posts 2014-FY And Q1-2015 Results by hobermener: 9:55pm On Oct 23, 2015
E
Re: Oando Posts 2014-FY And Q1-2015 Results by Emekamex(m): 9:55pm On Oct 23, 2015
Buhari has destroyed this country.
We should make Amaechi abi Esther the Minister of Finance. cool grin

29 Likes 2 Shares

Re: Oando Posts 2014-FY And Q1-2015 Results by hobermener: 9:55pm On Oct 23, 2015
T
Re: Oando Posts 2014-FY And Q1-2015 Results by petrelli07: 9:55pm On Oct 23, 2015
Well.. Goodbye oil and gas sector jobs... say hello to the internet...

3 Likes

Re: Oando Posts 2014-FY And Q1-2015 Results by Bubewilson(m): 9:56pm On Oct 23, 2015
Re: Oando Posts 2014-FY And Q1-2015 Results by hobermener: 9:56pm On Oct 23, 2015
Lol
Re: Oando Posts 2014-FY And Q1-2015 Results by FolabiCash: 9:56pm On Oct 23, 2015
Maaaa.
Re: Oando Posts 2014-FY And Q1-2015 Results by Mekky05(m): 9:56pm On Oct 23, 2015
Good for them ooh! Karma has its way of doing things.
Re: Oando Posts 2014-FY And Q1-2015 Results by raumdeuter: 9:56pm On Oct 23, 2015
2014 result and Q1 2015 when Buhari hasnt even won elections

Anyway everyone for oil industry dey lament

13 Likes 2 Shares

Re: Oando Posts 2014-FY And Q1-2015 Results by Morhziez(m): 9:57pm On Oct 23, 2015
Eyaah
Re: Oando Posts 2014-FY And Q1-2015 Results by ERONX(m): 9:57pm On Oct 23, 2015
From Guiness to Oando
Re: Oando Posts 2014-FY And Q1-2015 Results by tiamiyukunle69(m): 9:57pm On Oct 23, 2015
I think it's between 2014 and first quarter of 2015
I don't think it has anything to do with this administration

8 Likes 4 Shares

Re: Oando Posts 2014-FY And Q1-2015 Results by mobiss(m): 9:57pm On Oct 23, 2015
Hope downsizing won't be the next route, to be expenditure and operating cost.
Just insinuating.

1 Like

Re: Oando Posts 2014-FY And Q1-2015 Results by CACAWA(m): 9:57pm On Oct 23, 2015
SeverusSnape:
Loses every where since this Daura magician came on board. This must be a curse.

...change my foot.

lol..fools are always too quick to comment. 2014 and Q1 2015 was well during GEJ's admin... LET US THREAD THE PATH OF WISDOM BRO in our comments.

24 Likes 2 Shares

Re: Oando Posts 2014-FY And Q1-2015 Results by Nobody: 9:58pm On Oct 23, 2015
SeverusSnape:
Loses every where since this Daura magician came on board. This must be a curse.

...change my foot.

Show that you read the post.

1. What year did Oando's loss start?

2. State the profit/loss made by Oando in 2014.

12 Likes

(1) (2) (3) (4) (Reply)

Elon Musk Snaps Up $3bn Twitter Stake, Becomes Twitter's Largest Shareholder / Great Investment: Invest In A Great Business For Your Future / Why Young People Should Invest In Shares

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2022 Oluwaseun Osewa. All rights reserved. See How To Advertise. 76
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.