The unarguably dominant player in the country’s brewery sector, Nigerian Breweries Plc, impressed shareholders in the second quarter of 2025 with a 53 per cent year-on-year rise in revenue to N733.2 billion from the N478.8 billion achieved in the corresponding period of last year.
This improvement was largely driven by sustained innovation, strong commercial execution, optimisation of right pricing strategies amidst rising input costs, improvement in cost management, and enhanced operational efficiencies
Details of the financial statements of the brewery giant filed to the Nigerian Exchange (NGX) Limited showed that the net profit significantly grew by 204 per cent to N88.1 billion from a loss of N84.32 billion posted in the second of 2024.
This happened despite the rise in cost of sales by 32.71 per cent to N423.6 billion from N319.2 billion and a jump in selling, distribution, and administration expenses by 29 per cent to N159.6 billion from N124.0 billion in Q2 of 2024.
The Managing Director of Nigerian Breweries, Mr Thibaut Boidin, described the impressive performance as a reflection of its strong fundamentals and agility in navigating a challenging business landscape, which had been characterised by high inflation and constrained disposable income.
“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, in addition to lowering the exposure to financing costs in a high-interest rate environment,” he said.
Mr Boidin stated further that the elimination of foreign currency-denominated debts and the stability of the naira have resulted in a net foreign exchange gain during the period versus the loss reported in previous period.
Also commenting on the results, the Company Secretary and Legal Director, Mr 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,” Mr Agbebaku added.