Nigerian Breweries posts N733.19 billion Revenue in second quarter of 2025

By Kazeem Ugbodaga

Nigerian Breweries Plc has reported a robust financial performance for the second quarter of 2025, recording revenue of ₦733.19 billion.

This represents a 53% increase compared to the ₦478.84 billion posted in the same period of 2024.

The company also posted a net profit of ₦88.06 billion for the period, a dramatic turnaround from the ₦84.32 billion loss it reported in the second quarter of 2024—representing a 204% year-on-year swing in profitability.

According to the unaudited results released on the Nigerian Exchange (NGX), the company’s cost of sales rose significantly to ₦423.57 billion, up from ₦319.19 billion in the prior year. Similarly, expenses related to selling, distribution, and administration climbed by 29%, from ₦124.04 billion in 2024 to ₦159.58 billion in 2025.

Managing Director Thibaut Boidin described the performance as a reflection of the company’s resilience and adaptability in the face of a tough macroeconomic environment marked by high inflation and declining consumer spending.

Boidin attributed the strong half-year showing to a combination of sustained innovation, improved commercial execution, cost management, and effective pricing strategies.

He also highlighted enhanced operational efficiencies as a key contributor to the bottom line.

He noted that the company benefited significantly from the prudent deployment of proceeds from its Rights Issue, which helped reduce net financing costs by 87%.

This move, he said, not only improved the company’s balance sheet but also lowered its vulnerability to high interest rates.

Boidin added that the elimination of foreign currency-denominated debt, along with increased stability in the naira, resulted in a net foreign exchange gain for the company—compared to the foreign exchange losses recorded in the same period last year.

Commenting further, Uaboi Agbebaku, Company Secretary and Legal Director, reaffirmed the Board’s commitment to delivering sustainable long-term value.

He pointed to the company’s continued focus on cost optimisation, disciplined market execution, and brand equity enhancement as key levers for growth.

Agbebaku also noted that the full acquisition and integration of Distell Wines and Spirits Nigeria Limited into Nigerian Breweries’ operations is expected to enhance the company’s long-term value creation prospects for shareholders.