Nigerian Breweries Plc has reported N1.467 trillion in revenue for the financial year ended December 2025, marking a 35 per cent increase from the N1.084 trillion recorded in 2024.
The results signal a strong rebound for the brewing giant after a difficult 2024 shaped largely by macroeconomic headwinds, including inflation and pressure on consumer spending.
Profit Recovery Gains Momentum
Key highlights from the audited 2025 results show:
- 35 per cent revenue growth despite inflationary pressures
- 194 per cent rise in operating profit, driven by improved productivity and cost discipline
- 168 per cent rebound in net profit, supported by a sharp drop in finance costs
- 83 per cent reduction in net finance costs, following the 2024 Rights Issue
Gross profit in Q4 climbed from N320 billion in 2024 to N565 billion in 2025, representing a 77 per cent increase.
However, cost pressures persisted. Cost of Sales rose from N765 billion in 2024 to N902 billion in 2025, while Marketing, Distribution, and Administrative expenses grew 43 per cent from N254 billion to N364 billion.
Uaboi Agbebaku, Company Secretary/Legal Director, attributed the 35 per cent revenue growth to sustained innovation, premiumisation, effective pricing strategies, and strong commercial execution.
He explained that operating profit growth reflects improved cost discipline, productivity gains, and supply-chain efficiencies implemented under the company’s 2024 business recovery plan.
According to him, the 168% rebound in net profit was largely aided by the significant reduction in finance costs following the successful 2024 Rights Issue, which helped deleverage the balance sheet and eliminate foreign currency exposure.
Despite the improved performance, the company’s retained earnings remain negative due to heavy losses incurred over the past two years. However, the board expressed confidence that recovery efforts remain on track.
The company also completed the full acquisition and integration of Distell Wines and Spirits Nigeria Limited in 2025, incurring a one-off integration cost.
Management noted that the move expands Nigerian Breweries’ portfolio beyond beer into wines and spirits, strengthening long-term growth prospects.
A member of the Heineken N.V. Group, Nigerian Breweries is Nigeria’s pioneer and largest brewing company. Incorporated in 1946 as Nigerian Brewery Limited, it launched its first product, Star Lager, in 1949.
Today, the company boasts a portfolio of 19 brands, including:
- Heineken
- Desperados
- Maltina
- Life
- Amstel Malta
- Gulder
- Fayrouz
- Legend
The company operates nine breweries nationwide and has received multiple awards for product quality, innovation, sustainability, and corporate social responsibility.
With strengthened financial discipline and an expanded product mix, Nigerian Breweries says it is positioned for sustainable growth and long-term value creation.
