The company achieved N354.51 billion in net revenue in Q2 2025 alone and N738.14 billion in H1 2025 revenue, representing a strong performance.
Cost of sales grew but at a slower pace at 33.45% year-on-year, improving gross margins at 42.13%, supported by disciplined cost management and operational efficiencies.
NB is more than a beer company. It operates a diversified beverage portfolio spanning:
These products are distributed through three key channels:
This breadth gives NB unrivalled reach and brand loyalty, enabling it to pass through price increases and still defend volumes.
Nigerian Breweries’ revenue surge reflects a resurgent demand for alcoholic beverages such as beer, stout, and malt drinks, non-alcoholic options including soft drinks and bottled water, amid a recovering economy.
NB’s H1 2025 performance shows a strong rebound across all metrics:
NB’s revenue growth is driven by several interrelated factors:
NB still dominates Nigeria’s beer market, but rivals are closing in:
Nigerian Breweries
International Breweries
Guinness Nigeria Plc
NB’s cash model thrives on everyday consumption and seasonal peaks.
In H1 2025:
Despite modest net cash, the company’s equity base rose to N549.5 billion, up from N463.9 billion in the corresponding period, reflecting stronger retained earnings.
NB’s H1 2025 cash allocation shows a disciplined balance:
NB’s H1 2025 cash allocation shows a disciplined balance:
The absence of crushing FX losses, combined with steady investment, marks a return to more “normal” for operating conditions.
NB’s wealth creation cascades across stakeholders:
Nigerian Breweries’ H1 2025 rebound demonstrates how strong brands, prudent financial discipline, and a well product mix can sustain consumer traction even in a challenging economy. By deleveraging its balance sheet, broadening its product mix through Distell, and enforcing tighter cost controls, the company has shown to be one of the leading in Nigeria’s beer market.
With healthier fundamentals, Nigerian Breweries now has the flexibility to scale distribution, strengthen shareholder returns, and keep Nigeria’s favorite beers, malts, and spirits flowing across bars, shops, and households nationwide.