Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text; matched to OCR text of the page image; matched to OCR text and compared cell by cell with the page image; read from the page image) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review
GOIL
On this page
Company details
- Legal name
- GOIL PLC
- Listing
- GOIL on the Ghana Stock Exchange, active (observed 2026-10-08)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 December
Overview
Year ended 31 December 2025 · annual report, signed / final · source
Read with these figures
- Auditor's emphasis of matter. Emphasis of Matter: the auditor (PKF) draws attention to note 9b, which indicates that GOIL PLC has not consolidated GOIL Upstream Limited and GO Financial Services Limited on the basis that the overall impact of the non-consolidation is immaterial; opinion not modified in respect of this matter (p8)
Full wording and sources
Auditor's emphasis of matter
Emphasis of Matter: the auditor (PKF) draws attention to note 9b, which indicates that GOIL PLC has not consolidated GOIL Upstream Limited and GO Financial Services Limited on the basis that the overall impact of the non-consolidation is immaterial; opinion not modified in respect of this matter (p8)
Source: GOIL PLC Annual Report and Consolidated Financial Statements for the year ended 31 December 2025 (dated 2026-04-28)
Auditor's emphasis of matter
Emphasis of Matter: the auditor (PKF) draws attention to note 9b, which indicates that GOIL PLC has not consolidated its financial statements with those of GOIL Upstream Limited and GO Financial Services Limited because the net effect of the non-consolidation is immaterial; opinion not modified on this matter (p8)
Source: GOIL PLC Consolidated Financial Statements 31 December 2024 (dated 2025-04-25)
-
Revenue
GHS 17.2 billion
17,226,259 GHS thousands · p13
Change not shown.
-
Operating profit / (loss)
GHS 230 million
230,020 GHS thousands · p13
Change not shown.
-
Profit / (loss) for the year
GHS 90.7 million
90,672 GHS thousands · p13
Change not shown.
-
Total assets
GHS 4.88 billion
4,881,934 GHS thousands · p14
Change not shown.
-
Total equity
GHS 992 million
991,541 GHS thousands · p14
Change not shown.
-
Cash from operations
GHS 882 million
881,899 GHS thousands · p16
Change not shown.
Large amounts are rounded for reading (GHS million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.
Not shown: the two years come from different filings.
Financial statements
Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in GHS thousands unless the row says otherwise; brackets are negative.
† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table
Column sources
- FY2025 — annual report, signed / final; reported for the year · source
- FY2024 — annual report, signed / final; reported for the year · source
- Auditor's emphasis of matter. Emphasis of Matter: the auditor (PKF) draws attention to note 9b, which indicates that GOIL PLC has not consolidated its financial statements with those of GOIL Upstream Limited and GO Financial Services Limited because the net effect of the non-consolidation is immaterial; opinion not modified on this matter (p8)
- FY2023 — annual report, signed / final; comparative in the FY2024 filing · source
- Auditor's emphasis of matter. Emphasis of Matter: the auditor (PKF) draws attention to note 9b, which indicates that GOIL PLC has not consolidated its financial statements with those of GOIL Upstream Limited and GO Financial Services Limited because the net effect of the non-consolidation is immaterial; opinion not modified on this matter (p8)
Income statement
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportreported for the yearsource limitations | FY2023Annual reportcomparative in FY2024 filingsource limitations |
|---|---|---|---|
| Gross revenue1 | 18,549,204 | 20,364,600 | 21,720,398 |
| Customs duties and levies2 | (1,322,945) | (1,016,494) | (1,113,620) |
| Net revenue | 17,226,259 | 19,348,106 | 20,606,778 |
| Cost of sales | (16,436,734) | (18,519,813) | (19,898,015) |
| Gross profit | 789,525 | 828,293 | 708,763 |
| Sundry income | 39,826 | 64,622 | 51,307 |
| Depot and station expenses3 | (142,407) | (159,660) | (138,030) |
| Staff, selling & administrative expenses4 | (456,924) | (488,336) | (444,890) |
| Operating profit before financing cost | 230,020 | 244,919 | 177,150 |
| Net finance expenses5 | (106,649) | (108,080) | (89,878) |
| Profit before taxation | 123,371 | 136,839 | 87,272 |
| Growth and sustainability levy6 | (5,585) | (5,771) | (4,364) |
| Income tax expense | (27,114) | (46,370) | (28,202) |
| Net profit after tax attributable to equity holders of the company | 90,672 | 84,698 | 54,706 |
| Gain on fair value through other comprehensive income equity investments7 | 28,479 | 4,287 | 5,203 |
| Total other comprehensive income | 28,479 | 4,287 | 5,203 |
| Total comprehensive income for the year | 119,151 | 88,985 | 59,909 |
Notes and alternative reported figures (7)
- “Gross revenue” is an issuer-specific line, not mapped to a shared definition: Revenue before customs duties and levies.
- “Customs duties and levies” is an issuer-specific line, not mapped to a shared definition: Deducted from gross revenue to give net revenue.
- “Depot and station expenses” is an issuer-specific line, not mapped to a shared definition: Note 2a: operating expense.
- “Staff, selling & administrative expenses”: mapping to a shared definition is uncertain. One printed line combines staff, selling and administrative expenses.
- “Net finance expenses” is an issuer-specific line, not mapped to a shared definition: Note 4: net finance expenses.
- “Growth and sustainability levy” is an issuer-specific line, not mapped to a shared definition: Levy on profit before tax, printed apart from income tax.
- “Gain on fair value through other comprehensive income equity investments” is an issuer-specific line, not mapped to a shared definition: Note 20: OCI item.
Balance sheet
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportreported for the yearsource limitations | FY2023Annual reportcomparative in FY2024 filingsource limitations |
|---|---|---|---|
| Property, plant and equipment | 1,781,759 | 1,630,174 | 1,630,013 |
| Intangible asset | 624 | 918 | 1,212 |
| Right-of-use-asset | 7,991 | 11,681 | 8,990 |
| Fair value through other comprehensive1 | 47,020 | 18,541 | 13,376 |
| TOTAL NON CURRENT ASSETS | 1,837,394 | 1,661,314 | 1,653,591 |
| Inventories | 338,654 | 595,478 | 684,366 |
| Trade and other receivables | 2,431,678 | 2,341,069 | 1,442,221 |
| Financial assets at amortised cost | 8,424 | 9,226 | 11,691 |
| Cash and bank balances | 254,514 | 201,122 | 210,673 |
| Current tax | 11,270 | 0 | 0 |
| TOTAL CURRENT ASSETS | 3,044,540 | 3,146,895 | 2,348,951 |
| TOTAL ASSETS | 4,881,934 | 4,808,209 | 4,002,542 |
| Stated capital | 185,589 | 185,589 | 185,589 |
| Building fund2 | 52,450 | 47,916 | 43,681 |
| Retained earnings | 707,662 | 643,215 | 584,444 |
| Capital surplus3 | 45,841 | 17,362 | 13,075 |
| TOTAL EQUITY | 991,541 | 894,082 | 826,789 |
| Deferred tax | 24,084 | 34,559 | 21,667 |
| Non current term loan | 229,157 | 262,865 | 11,778 |
| Lease liability | 2,703 | 2,936 | 3,461 |
| TOTAL NON CURRENT LIABILITIES | 255,944 | 300,360 | 36,906 |
| Bank overdraft | 274,667 | 352,586 | 350,364 |
| Trade and other payables | 3,091,761 | 2,632,141 | 2,725,063 |
| Current tax4 | 0 | 5,699 | 1,197 |
| Current portion of term loan | 268,021 | 623,341 | 62,223 |
| TOTAL CURRENT LIABILITIES | 3,634,449 | 3,613,767 | 3,138,847 |
| TOTAL LIABILITIES | 3,890,393 | 3,914,127 | 3,175,753 |
| TOTAL EQUITY AND LIABILITIES | 4,881,934 | 4,808,209 | 4,002,542 |
Notes and alternative reported figures (4)
- Printed under different labels across filings: “Fair value through other comprehensive”; “Fair value through other comprehensive income investments”.
- “Building fund” is an issuer-specific line, not mapped to a shared definition: Note 18: equity reserve.
- “Capital surplus” is an issuer-specific line, not mapped to a shared definition: Note 20: equity reserve (fair value gains on FVOCI investments).
- Printed under different labels across filings: “Current tax”; “Current tax.”.
Cash flow
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportreported for the yearsource limitations | FY2023Annual reportcomparative in FY2024 filingsource limitations |
|---|---|---|---|
| Operating Profit1 | 123,371 | 136,839 | 87,272 |
| Depreciation and amortisation charges2 | 80,434 | 66,946 | 67,144 |
| Depreciation - right-of-use-assets3 | 4,419 | 3,492 | 2,295 |
| Finance cost on lease liability4 | 1,356 | 813 | 654 |
| Transfer effect on capital work in progress5 | 0 | 240,909 | 0 |
| Impairment on financial instruments6 | 0 | (1,627) | 0 |
| Net effect on over provision of corporate tax7 | 1,892 | Not reported in this filing98 | Not reported in this filing10 |
| Net effect on sale of property, plant and equipment11 | (22) | (24) | 0 |
| Interest and dividend received12 | (7,284) | (4,517) | (6,216) |
| Interest paid13 | 113,933 | 112,597 | 96,094 |
| Operating profit before working capital changes14 | 318,099 | 555,428 | 247,243 |
| Changes in inventories15 | 256,824 | 88,888 | 206,279 |
| Changes in trade and other receivables16 | (90,609) | (898,848) | 424,308 |
| Changes in trade and other payables17 | 459,620 | (92,922) | (789,864) |
| Cash generated from operations | 943,934 | (347,454) | 87,966 |
| Company tax paid | (62,035) | (34,747) | (37,042) |
| Net cash inflows/(outflows) from operating activities18 | 881,899 | (382,201) | 50,924 |
| Interest and dividend received19 | 7,284 | 4,517 | 6,216 |
| Interest paid | (113,933) | (112,597) | (96,094) |
| Acquisition of property, plant and equipment | (232,058) | (307,800) | (274,315) |
| Repayment of principal portion of lease liabilities | (2,318) | (7,521) | (4,338) |
| Investment in African Bitumen Terminal limited20 | 0 | 0 | 0 |
| Acquisition of additional investment in JUHI21 | 0 | (878) | (454) |
| Receipt from disposal of property, plant and equipment | 355 | 99 | 0 |
| Net cash outflows from investing activities | (340,670) | (424,180) | (369,565) |
| Net cash inflows/(outflows) before financing2223 | 541,229 | (806,381) | (318,641) |
| Changes in term loans24 | (389,028) | 812,208 | (73,698) |
| Dividend paid | (21,692) | (21,692) | (21,944) |
| Net cash flows from financing activities | (410,720) | 790,516 | (95,642) |
| Net increase/(decrease) in cash and cash equivalents25 | 130,509 | (15,865) | (414,283) |
| Cash and cash equivalents as at 1 January | (142,238) | (126,373) | 287,910 |
| Cash and cash equivalents as at 31 December | (11,729) | (142,238) | (126,373) |
| Acquisition of intangible assets | Not yet collected from the source26 | 0 | (580) |
| Investment in Gobitumen limited27 | Not reported in this filing28 | 0 | 0 |
Notes and alternative reported figures (28)
- “Operating Profit” is an issuer-specific line, not mapped to a shared definition: Starting line of the indirect-method operating cash flows (equals profit before taxation).
- “Depreciation and amortisation charges” is an issuer-specific line, not mapped to a shared definition: Adjustment.
- “Depreciation - right-of-use-assets” is an issuer-specific line, not mapped to a shared definition: Adjustment.
- “Finance cost on lease liability” is an issuer-specific line, not mapped to a shared definition: Adjustment.
- “Transfer effect on capital work in progress” is an issuer-specific line, not mapped to a shared definition: Adjustment.
- “Impairment on financial instruments” is an issuer-specific line, not mapped to a shared definition: Adjustment.
- “Net effect on over provision of corporate tax” is an issuer-specific line, not mapped to a shared definition: Adjustment.
- Annual report dated 2026-04-28 presents this line for this year: 0 (p16). Not shown in this column, which follows one filing's presentation.
- Not reported in this filing: Not printed in this document: the FY2024 consolidated statement of cash flows (p16) has no line 'Net effect on over provision of corporate tax'; its adjustments are depreciation and amortisation, depreciation of right-of-use assets, finance cost on lease liability, transfer effect on capital work in progress, impairment on financial instruments, net effect on sale of PPE, interest and dividend received and interest paid. The line first appears in the FY2025 report. Checked on the page image (p16).
- Not reported in this filing: Not printed in this document: the FY2024 consolidated statement of cash flows (p16) has no line 'Net effect on over provision of corporate tax' in either column; the adjustments printed are depreciation and amortisation, depreciation of right-of-use assets, finance cost on lease liability, transfer effect on capital work in progress, impairment on financial instruments, net effect on sale of PPE, interest and dividend received and interest paid. Checked on the page image (p16).
- “Net effect on sale of property, plant and equipment” is an issuer-specific line, not mapped to a shared definition: Adjustment.
- “Interest and dividend received” is an issuer-specific line, not mapped to a shared definition: Adjustment: removed from operating cash flows.
- “Interest paid” is an issuer-specific line, not mapped to a shared definition: Adjustment: added back to operating cash flows.
- “Operating profit before working capital changes” is an issuer-specific line, not mapped to a shared definition: Subtotal: operating profit plus the adjustments.
- “Changes in inventories” is an issuer-specific line, not mapped to a shared definition: Operating: working capital change.
- “Changes in trade and other receivables” is an issuer-specific line, not mapped to a shared definition: Operating: working capital change.
- “Changes in trade and other payables” is an issuer-specific line, not mapped to a shared definition: Operating: working capital change.
- Printed under different labels across filings: “Net cash (outflows)/inflows from operating activities”; “Net cash inflows/(outflows) from operating activities”.
- “Interest and dividend received” is an issuer-specific line, not mapped to a shared definition: Investing.
- “Investment in African Bitumen Terminal limited” is an issuer-specific line, not mapped to a shared definition: Investing.
- “Acquisition of additional investment in JUHI” is an issuer-specific line, not mapped to a shared definition: Investing.
- “Net cash inflows/(outflows) before financing” is an issuer-specific line, not mapped to a shared definition: Subtotal: operating plus investing cash flows.
- Printed under different labels across filings: “Net cash inflows/(outflows) before financing”; “Net cash outflows before financing”.
- “Changes in term loans” is an issuer-specific line, not mapped to a shared definition: Financing: net change in term loans.
- Printed under different labels across filings: “Net decrease in cash and cash equivalents”; “Net increase/(decrease) in cash and cash equivalents”.
- Not yet collected from the source: Printed 'Acquisition of intangible assets' with 0 in every column (page image p16), but the text layer merges the four zeros into one token ('0000'); not transcribed.
- “Investment in Gobitumen limited” is an issuer-specific line, not mapped to a shared definition: Investing (0 in the Group columns; Company 2023 only).
- Not reported in this filing: Not printed in this document: the FY2025 consolidated statement of cash flows (p16) has no line 'Investment in Gobitumen limited'; its investing lines are interest and dividend received, interest paid, acquisition of intangible assets, acquisition of PPE, repayment of principal portion of lease liabilities, investment in African Bitumen Terminal limited, acquisition of additional investment in JUHI and receipt from disposal of PPE. Text layer (p16).
Segments
Segment data not yet collected for this company in the pilot.
Dividends
Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.
| Year ended | Event | Wording as printed | Amount | Unit | Source |
|---|---|---|---|---|---|
| 31 Dec 2025 | Dividend proposed per share, as printed in a statement | Dividend per share (GH¢)Dividend per share for the year: GH¢0.060 proposed for 2025 (directors' report p6, note p40); 2024 GH¢0.056 (paid in 2025). |
0.060 | GHS per share | Annual report, p13 |
| 31 Dec 2025 | Dividends paid (cash flow statement) | Dividend paid |
(21,692) | GHS thousands | Annual report, p16 |
| 31 Dec 2024 | Dividend proposed per share, as printed in a statement | Dividend per share (GH¢)Dividend per share for the year: GH¢0.060 proposed for 2025 (directors' report p6, note p40); 2024 GH¢0.056 (paid in 2025). |
0.056 | GHS per share | Annual report, p13 |
| 31 Dec 2024 | Dividend proposed per share, as printed in a statement | Dividend per share (GH¢)Dividend per share for the year: GH¢0.056 proposed for 2024 (directors' report p7); 2023 GH¢0.056. |
0.056 | GHS per share | Annual report, p13 |
| 31 Dec 2024 | Dividends paid (cash flow statement) | Dividend paid |
(21,692) | GHS thousands | Annual report, p16 |
| 31 Dec 2023 | Dividend proposed per share, as printed in a statement | Dividend per share (GH¢)Dividend per share for the year: GH¢0.056 proposed for 2024 (directors' report p7); 2023 GH¢0.056. |
0.056 | GHS per share | Annual report, p13 |
| 31 Dec 2023 | Dividends paid (cash flow statement) | Dividend paid |
(21,944) | GHS thousands | Annual report, p16 |
Sources
Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.
-
GOIL PLC Annual Report and Consolidated Financial Statements for the year ended 31 December 2025
Year ended 31 December 2025 · Annual report · signed / final
Audit: PKF, Chartered Accountants, Accra, unmodified opinion · signed
Auditor's sign-off: PKF (ICAG/F/2026/039); engagement partner Dominic Dorkenoo (ICAG/P/1448)
Final status: Independent auditor's report (scanned end page, PDF pp8-12) with an unmodified opinion ('give a true and fair view') on the consolidated financial statements, and an emphasis of matter on note 9b (GOIL Upstream Limited and GO Financial Services Limited not consolidated as immaterial; 'Our opinion is not modified in respect of this matter', p8). On p12 a handwritten 'PKF' signature above 'PKF: (ICAG/F/2026/039) Chartered Accountants, Accra', engagement partner Dominic Dorkenoo (ICAG/P/1448), with the date completed by hand '28th APRIL' before the printed '2026' (page image). The statement of financial position states 'Approved by the Board on' a date completed by hand '28 / 04 /' before the printed '2026', with two handwritten directors' signatures and handwritten names (Edward Abambire Bawa; Nana Philip Archer) (PDF p14, page image).
- Document date
- 28 Apr 2026
- Published
- 29 Apr 2026
- Auditor's report
- 28 Apr 2026
- Board approval
- 28 Apr 2026
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2025
- Basis
- consolidated statements · GHS thousands (printed “GH¢'000”)
- Dividends paid in the statement of cash flows are (21,692) in both years (p16) while note 21 (p40) shows payments of (21,944) and the directors' report gives GH¢21,944,335 for the 2024 final dividend. Kept as printed.
- In the text layer of p13 the label of the OCI line ('Gain on fair value through other comprehensive income equity investments') is extracted at the end of the page; the line is read from the values that directly follow the heading 'Other comprehensive income' and note 20 (page image p13).
- The statement of cash flows starts from 'Operating Profit' equal to profit before taxation, and presents interest paid and lease principal repayments in investing activities (p16). The row 'Acquisition of intangible assets' prints 0 in every column, but the text layer merges the four zeros into one token ('0000'), so the row is not transcribed.
- The statement of financial position (p14) is a scanned image without a text layer; it is read from Apple Vision OCR of the render. The statements of comprehensive income (p13) and cash flows (p16) have a text layer.
- Auditor's emphasis of matter (p8): two subsidiaries (GOIL Upstream Limited, GO Financial Services Limited) are not consolidated, on the basis that the impact is immaterial (note 9b).
Technical details
- File
- 48 pages, with a text layer
- SHA-256
2eff6e4ca72a7756a1ddca77b6060c51cfc0894decf8da2914b8fb91b04dcca1- Entity as printed
- GOIL PLC (the Company and its Subsidiaries)
- Exchange copy
- retrieved 2026-10-08T17:52:29Z
-
GOIL PLC Consolidated Financial Statements 31 December 2024
Year ended 31 December 2024 · Annual report · signed / final
Audit: PKF, Chartered Accountants, Accra, unmodified opinion · signed
Auditor's sign-off: PKF (ICAG/F/2025/039); engagement partner Albert Addo Cofie (ICAG/P/1403)
Final status: Independent auditor's report (PDF pp8-12; p12 scanned) with an unmodified opinion ('give a true and fair view') on the consolidated financial statements, and an emphasis of matter on note 9b (GOIL Upstream Limited and GO Financial Services Limited not consolidated as immaterial; 'Our opinion is not modified on this matter', p8). On p12 a handwritten 'PKF' signature above 'PKF: (ICAG/F/2025/039) Chartered Accountants, Accra', engagement partner Albert Addo Cofie (ICAG/P/1403), with the date completed by hand '25th April' before the printed '2025' (page image). The statement of financial position states 'Approved by the Board on' a date completed by hand '25th April' before the printed '2025', with two handwritten directors' signatures (names not printed) (PDF p14, page image); the directors' report approval (p7) carries the same date and signatures.
- Document date
- 25 Apr 2025
- Auditor's report
- 25 Apr 2025
- Board approval
- 25 Apr 2025
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2024, FY2023
- Basis
- consolidated statements · GHS thousands (printed “GH¢'000”)
- The cash-and-cash-equivalents reconciliation under the statement of cash flows (p16) uses financial assets at amortised cost of 13,318 for 2023, while the statement of financial position (p14) prints 11,691 for 2023 (13,318 is the gross fixed deposit before impairment in note 9c, p36). Kept as printed.
- In the text layer of p13 the label of the OCI line ('Gain on fair value through other comprehensive income equity investments') is extracted at the end of the page; the line is read from the values that directly follow the heading 'Other comprehensive income' and note 20 (page image p13).
- The statement of cash flows starts from 'Operating Profit' equal to profit before taxation, and presents interest paid and lease principal repayments in investing activities (p16).
- The statement of financial position (p14) is a scanned image without a text layer; it is read from Apple Vision OCR of the render. The statements of comprehensive income (p13) and cash flows (p16) have a text layer.
Technical details
- File
- 47 pages, with a text layer
- SHA-256
1361f741fa713fb687007cf5ae9b2cc0fa9d457359d124bd6576261b1d5f9de9- Entity as printed
- GOIL PLC (the Company and its Subsidiaries)
- Exchange copy
- retrieved 2026-10-08T17:53:37Z
Data notes
No figure-level notes beyond those in the tables.
Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text; matched to OCR text of the page image; matched to OCR text and compared cell by cell with the page image; read from the page image) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.
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