**Summary of Savannah Energy PLCs 2024 Annual Financial Report**
**Publication and Posting of the 2024 Annual Report**
Savannah Energy PLC announced the publication of its 2024 Annual Report and Accounts, available on its website. Printed copies will be sent to shareholders who requested them. The report includes no changes to previously disclosed financial information. Trading on the AIM market is expected to resume on October 23, 2025, following the interim accounts release.
**Financial Performance**
**Revenue and EBITDA**Total Revenues reached $258.9 million, exceeding guidance, with Adjusted EBITDA at $181.2 million. The EBITDA margin remained industry-leading at 70%.
**Nigerian Operations**Nigerian business unit recorded Adjusted EBITDA of $210.4 million, with an 81% margin.
**Operational Highlights**Average gross daily production was 23.1 Kboepd, with 88% being gas. Uptime at the Uquo CPF was 97%.
**Carbon Emissions**Reduced Scope 1 emissions by 47% year-on-year to 5.7 kg CO2e/boe, 73% below the industry average.
**Strategic Developments**
**Acquisitions**Completed the SIPEC Acquisition, increasing ownership in the Stubb Creek field to 100%, adding 47 MMboe to reserves.
**Expansion Projects**Implementing an 18-month expansion at Stubb Creek to boost production from 2.7 Kbopd to 4.7 Kbopd.
**Power Projects**Progressed the 250 MW Parc Eolien de la Tarka wind farm in Niger and the 95 MW Bini a Warak hybrid project in Cameroon.
**Arbitral Proceedings**Ongoing claims against Chad exceeding $1 billion for nationalization of assets, expected to conclude by H1 2026.
**Corporate Governance and Sustainability**
**Safety**Achieved zero LTIR and TRIR in 2024.
**Diversity**Maintained senior management female diversity at 32% and local employee ratios at 99% in Nigeria and 100% in Niger.
**Training**Increased training hours by 30%, with a focus on HSE.
**Market and Strategic Outlook**
**African Energy Transition**Emphasized the need for both hydrocarbons and renewables in Africa to address energy poverty.
**M&A Opportunities**Highlighted attractive divestment programs in hydrocarbons and power sectors, with plans for further acquisitions.
**UK Public Markets**Engaged with the London Stock Exchange on AIM reforms, particularly Rule 14, and initiated a review of market arrangements.
**Financial Priorities for 2025**
Increase cash collections in Nigeria.
Complete refinancing of Nigerian debt facilities.
Advance arbitral proceedings and exploration projects.
Refine the power sector business model.
**Conclusion**
Savannah Energy demonstrated robust financial and operational performance in 2024, with strategic advancements in acquisitions, expansions, and sustainability. The company remains focused on growth, particularly in Africa’s energy sector, while addressing global energy transition challenges.