Nestle Nigeria Plc has returned to profitability with a profit before tax of N51.2 billion for the first quarter (Q1) ended March 31, 2025.
This turnaround was driven by robust revenue growth, cost efficiency, and a sharp decline in foreign exchange losses.
The Company’s unaudited results showed that profit before tax stood at N51.2 billion, a significant turn-around from a loss of N196.1 billion in Q1 2024.
Revenue grew by 61 per cent to N294.885 billion compared to N 183.484 billion Q1 2024, while operating profit up by 254 per cent to N74.1 billion from N20.9 billion in Q1 2024.
The equity position of the Company improved by N30.0 billion.
Speaking on the results, CEO/managing director of Nestle Nigeria, Mr. Wassim Elhusseini stated, “the results for Q1 2025 reflect our unwavering commitment to operational excellence and strong fundamentals, marking a successful continuation of our return to profitability initiated in Q4 2024.
“The robust topline growth of 61 per cent in Q1 2025 and profit after tax of N30.1 billion demonstrate that our focused efforts are yielding desired results led by a strong operating performance.”
Looking ahead, Elhusseini emphasized, “we will remain dedicated to driving innovation and renovation to meet evolving consumer needs, enhancing our margin management initiatives, and investing in community programs that deliver sustainable value to all our stakeholders.”
According to him, Nestle Nigeria’s operating profit increased significantly from N20.9 billion in January to March 2024 to 74.1 billion in January to March 2025 alongside considerable improvement in operating margins.
The Company’s profit before tax stood at N51.2 billion compared to a loss of N196.1 billion and profit after tax of N30.2 billion versus a loss of N142.7 billion in the same period last year.
“This result highlights Nestle’s commitment to consistently delivering long-term value to its shareholders while effectively navigating the challenges of the current business environment.”
