Nigerian Breweries Plc has released its results for the first quarter (Q1) period ended March 31.
Building on the strong momentum from the last quarter of 2024, the Group recorded a 69 percent year-on-year revenue growth in the first quarter (Q1) of 2025.
“This performance was driven by deeper market penetration, sustained innovation, strong commercial execution, and improved customer engagement. Strategic pricing initiatives and enhanced supply chain efficiencies further contributed to the topline expansion”, the company said in its earnings release.
Despite Nigeria’s volatile macroeconomic environment marked by high inflation and constrained disposable income, the Company delivered a strong performance in the quarter, driven by a continued focus on agility, innovation, and disciplined execution.
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Notably, the group operating profit rose by 238 percent, underscoring the Company’s relentless focus on cost discipline and productivity enhancement. The significant improvement in the operating profit reflects both volume and value growth, as well as the benefits from the business recovery and process optimisation initiatives undertaken in 2024.
The brewer reported N69.99billion profit before tax (PBT) in Q1’25 as against group Loss Before Tax of N65.580 billion in Q1’24.
Also, its revenue in the review quarter rose to N383.635 billion from a low of N227.120 billion in Q1’24.
The Group also recorded a 186 percent increase in net profit, sustaining the return to profitability that started in the last quarter of 2024, and reflecting the full impact of financial restructuring and cost-saving initiatives implemented as part of its business recovery plan.
Importantly, net finance expenses dropped by 83 percent , a direct result of the prudent utilisation of proceeds from the 2024 Rights Issue, which were used to reduce foreign currency liabilities and optimise the Company’s capital structure.
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“This substantial reduction in finance costs has materially strengthened the bottom line and enhanced financial resilience. The strategic initiatives introduced in 2024, including portfolio optimisation, rightsizing of operations, and disciplined working capital management, continue to yield strong results. The Company is firmly on track in the execution of its turnaround plan, including restoring long-term profitability, and building a solid foundation for sustainable growth.
The Board expresses appreciation to shareholders for their unwavering support, particularly on the Rights Issue, which was 92 percent subscribed. Their commitment has been instrumental in repositioning the Company for long-term success and growth,” Nigerian Breweries noted further in its earnings release at the Nigerian Exchange Limited (NGX).
While the operating environment remains uncertain and the low season approaches, the Company is confident of its ability to navigate ongoing macroeconomic pressures.
“With a clear focus on agility, innovation, the integration of Distell, and financial discipline, the Company remains well-positioned to drive continued growth and deliver value to all stakeholders,” it noted.
