After two bruising years, 2025 offered long-awaited relief for Nigerian corporates, particularly those operating in the real sector. Macroeconomic conditions eased meaningfully.
The naira appreciated by about 6 per cent, stabilising around N1,450 to the dollar, while inflationary pressures moderated sharply following the rebasing of the consumer price index. Headline inflation fell from 24.48 per cent in January to 14.45 per cent by November.
Compared with the turbulence of 2023 and 2024, the operating environment in 2025 was more benign. Manufacturers responded swiftly. Several firms reversed the losses accumulated the previous year in less than nine months, as improved pricing, cost discipline and currency stability flowed through to earnings.
Against this backdrop, BusinessDay assessed chief executives who delivered exceptional shareholder returns on the Nigerian Exchange. The review also focused on leaders who backed those gains with strong, defensible financial performance. By that measure, the Best CEO of 2025 is Alexander Gendis, chief executive officer of Beta Glass Plc.
Under Gendis’s leadership, Beta Glass emerged as one of the most remarkable corporate turnaround stories of the year. The company’s shares gained about 470 per cent year-to-date, making it the second-best performing stock on the NGX in 2025, behind only NCR Nigeria, which returned 1.35 per cent. Beta Glass significantly outperformed its peers, even as the NGX Industrial Goods Index delivered a respectable 59 per cent return.
The rally was not drivensolely by sentiment. It was anchored in a sharp improvement in fundamentals. In the first nine months of 2025, Beta Glass posted revenue of N114.4 billion, up 43 per cent from N79.8 billion in the same period of 2024. More striking was the expansion in profitability. Gross profit jumped 122 per cent, reflecting disciplined cost control and efficiency gains, while operating profit surged 149 per cent year-on-year to N38.8 billion. Operating margin expanded to 3 per cent, from 19 per cent a year earlier.
According to Gendis, the performance reflects the execution of a business-wide transformation strategy launched in early 2023. “We have delivered operational efficiency improvements at our plants in Agbara, Ijebu Ode and Ughelli, streamlining production and optimising energy usage,” he said in an exclusive interview with BusinessDay.
The company also focused on capital discipline, cost management and repositioning itself to serve fast-growing segments such as food and beverages, pharmaceuticals, wines, and spirits.
Importantly, the earnings rebound was underpinned by sustained investment rather than short-term optimisation. Inthe nine mmonths Beta Glass recorded capital expenditure of N35.2 billion, representing an 81 per cent capex-to-EBITDA ratio.
That level of reinvestment underscores a long-term growth strategy. Gendis confirmed that the company is committing an additional €17.5 million to rebuild one of its furnaces, a move expected to expand capacity and enhance production capabilities.
Beta Glass’ ambition extends beyond Nigeria. The company now exports to over nine countries and is positioning itself to benefit from the African Continental Free Trade Area. “AfCFTA is creating a larger and more accessible market for our high-quality glass products,” Gendis noted, adding that demand for consumer products across the region continues to grow.
Sustainability has also become central to the company’s strategy. Beta Glass has installed solar power generation at its Agbara facility, increased recycled glass content in production, and invested in energy redundancy and lightweighting innovations to reduce costs and environmental impact.
For shareholders, the message is clear. While dividend policy will be outlined in due course, management remains focused on balancing returns with reinvestment to build long-term value. With a five-decade operating history and a clear strategic direction, Beta Glass is positioning itself as the leading and most sustainable glass manufacturer in Sub-Saharan Africa.
In a year when many companies merely stabilised, Alexander Gendis led Beta Glass to outperform, reinvest, and expand. That combination of execution, vision, and shareholder value creation sets him apart as BusinessDay’s Best CEO of 2025.
