ESLA Plc reports Q3 2024 financial performance, showing shift in asset strategy and strong income growth
ESLA Plc, Ghana’s Special Purpose Vehicle (SPV) created to manage the energy sector debt, reported a slight dip in total assets at the close of Q3 2024, reaching GHS 5.31 billion, down from GHS 5.35 billion a year earlier. This decrease reflects a strategic reallocation, as the company moved entirely away from non-current assets, previously valued at GHS 629 million, and increased its focus on current assets, which rose significantly to GHS 5.31 billion from GHS 4.72 billion.
The company’s liabilities also saw a decline, with total liabilities reduced to GHS 4.81 billion from GHS 5.03 billion. Non-current liabilities decreased to GHS 4.53 billion, down from GHS 4.67 billion, while current liabilities dropped to GHS 279 million from GHS 358 million.
Notably, ESLA Plc recorded a 219% year-on-year increase in total comprehensive income, rising to GHS 165.7 million in Q3 2024 from GHS 51.9 million in Q3 2023, yielding an earnings per share of GHS 165.7. This significant income growth underscores the SPV’s robust financial performance amid its ongoing asset and liability adjustments.
ESLA Plc’s role in addressing Ghana’s energy sector debt through long-term ESLA-backed bond issuances remains crucial. Analysts highlight the company’s asset-liability management strategy as key to maintaining investor confidence and supporting sustainable debt servicing.
