Nigerian Breweries Records N738.14bn Revenue

Nigerian Breweries Plc declared revenue of N738.144 billion for the first half-year (H1) financial period ended June 30, 2025.

According to the provisional result, revenue moved from N479.767 billion in H1 2024 to N 738.144 billion in H1 2025.

The cost of sales rose from N319.19 billion in 2024 to N423.57 billion in the period under review in 2025, while gross profit rose by 94.76 per cent to N310.999 billion compared to N159.684 billion in H1 2024.
Net profit for the half year 2025 stood at N88.06 billion, marking a 204 per cent turnaround from a loss of N84.32 billion posted during the corresponding period of 2024.

Speaking to the results, Thibaut Boidin, managing director of Nigerian Breweries, revealed that the company’s impressive performance reflects its strong fundamentals and agility in navigating a challenging business landscape, which has been characterised by high inflation and constrained disposable income.
He noted that the performance in the first half of the year was driven mainly by sustained innovation, strong commercial execution, optimisation of right pricing strategies amidst rising input costs, improvement in cost management, and enhanced operational efficiencies.

“The Company also benefited from the prudent utilisation of the proceeds of the Rights Issue as the net financing costs went down significantly by 87 per cent. This deleveraging move has also strengthened the Company’s balance sheet, lowering the exposure to financing costs in a high-interest rate environment,” he said.

Boidin stated further that the elimination of foreign currency-denominated debts and the naira’s stability have resulted in a net foreign exchange gain during the period, compared to a loss reported in the previous period.

Also, the company secretary and legal director of Nigerian Breweries, Uaboi Agbebaku, reiterated the Board’s commitment to driving long-term value through a focus on cost optimisation, market execution, and strengthening brand equity across the portfolio.

“The full ownership and integration of the operations of Distell Wines and Spirits Nigeria Limited will further strengthen the platform for long-term value creation for our Shareholders,” Agbebaku added.