Quantum Terminals PLC reported a 8% year-over-year revenue increase to GHS 22 million for the first quarter ending March 31, 2025, according to unaudited financial statements.
However, net profit dipped 3% to GHS 8.37 million, reflecting heightened operational and financing expenses.
The Ghana-based energy storage firm attributed the revenue growth to higher throughput fees and premium charges. Gross profit rose marginally to GHS 16.58 million, but surging administrative costs—nearly doubling to GHS 7.44 million—eroded profitability. Key expense drivers included consultancy services (GHS 1.14 million), staff salaries (GHS 2.08 million), and IT charges (GHS 375,248). Finance costs also climbed 24% to GHS 3.89 million, driven by bond interest and loan fees.
Total assets expanded to GHS 499.15 million, up 4% from 2024, bolstered by a GHS 4.6 million increase in work-in-progress assets. Long-term debt fell 18% to GHS 56.68 million, signaling progress in deleveraging. Cash reserves remained stable at GHS 16.55 million, though net cash outflow reached GHS 10.19 million due to debt repayments and exchange rate impacts.
The company’s earnings per share declined to GHS 0.0761 from GHS 0.0786 in 2024. EBITDA dropped 18% to GHS 16.17 million, reflecting tighter margins. A deferred tax liability reduction to GHS 68.2 million and improved trade receivables management provided partial offsets to rising costs.
Quantum Terminals emphasized adherence to International Financial Reporting Standards (IFRS) and highlighted prudent risk management in its notes, including rigorous impairment assessments for financial assets. The firm’s focus on infrastructure investments, evidenced by GHS 1.14 million in property and equipment acquisitions, aligns with its long-term operational strategy.
The mixed results underscore the challenges of balancing growth initiatives with cost containment in Ghana’s competitive energy sector. While debt reduction and asset expansion signal strategic discipline, sustained profitability may hinge on stabilizing administrative expenditures and navigating macroeconomic volatility. Analysts will monitor the company’s ability to leverage its upgraded storage facilities and maintain liquidity amid evolving market conditions.
