Nigerian Breweries gains N383bn revenue in Q1 2025

Nigerian Breweries Plc (NB) has posted a strong financial turnaround, recording a 69 per cent increase in net sales revenue to N383 billion for the first quarter ended March 31, 2025, marking a significant rebound from the N227 billion posted in the same period of 2024.

The company’s interim report for Q1 2025 showed that despite high inflation driving up costs of sales and operating expenses, NB’s operating profit surged by 238 per cent to N85 billion, up from N25 billion in Q1 2024. Profit after tax also bounced back to N45 billion, reversing the N52 billion loss recorded in the first quarter of the previous year.

Managing Director of Nigerian Breweries, Hans Essaadi, attributed the improved performance to a combination of volume and value growth, as well as the successful execution of strategic recovery initiatives launched in 2024.

“Our efforts in portfolio optimisation, operational restructuring, and working capital discipline are paying off. We are well on track to restore long-term profitability and establish a strong foundation for sustainable growth,” Essaadi said.

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The company highlighted that its focus on cost control and productivity gains played a critical role in the turnaround, even amid persistent macroeconomic headwinds.

Company Secretary and Legal Director, Uaboi Agbebaku, thanked shareholders for their strong support, especially during the recent rights issue which saw a 92 per cent subscription rate.

“The unwavering commitment of our shareholders has been instrumental in repositioning the company. We are confident in our ability to navigate ongoing economic challenges through agility, innovation, and financial discipline,” Agbebaku stated.

He added that the company has now reported consecutive quarterly profits, including the final quarter of 2024, confirming a sustained return to profitability after several periods of losses.