Nigerian Breweries grows turnover
Nigerian Breweries has seen its turnover lift by 48% in the third quarter coinciding with the business’s expanded consumer sales activities.
The figures, which were for the nine-month period ended 30 September, showed that the Heineken-owned company’s total revenue rose from NGN703 billion in Q3 2024 to NGN1.04 trillion in Q3 2025. Added to this, the cost of sales also rose from NGN495 billion Q3 2024 to NGN627 billion in Q3 2025.
This year, Nigerian Breweries also completed the full integration of Distell Nigeria into its operations which it acquired in March.
Increased sales activities
The figures showed that marketing, distribution, and administration expenses went up by 38% from NGN184 billion during Q3 2024 to NGN254 billion in Q3 2025, driven by increased brand and sales activities.
The accounts also reflected how the business has seen a major rebound in profitability with pre-tax profit of NGN129.47 billion in Q3 2025 as against loss of NGN203 billion back in Q3 2024. The company revealed that after taxes, net profit stood at NGN85.5 billion in 2025 compared to net loss of NGN149.50 billion in 2024. Despite this, earnings per share improved from a loss of NGN14.55 to show positive earnings of NGN2.75.
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Revenue and operating profit up
Nigerian Breweries company secretary and legal director Uaboi Agbebaku said in a statement: “The group’s revenue grew by 47%, supported by appropriate pricing and the strong performance of the premium portfolio. Operating profit improved significantly supported by cost management and supply chain efficiencies, while the net profit increased by 157% due to the strong operating profit and a lower net finance cost. The rights issue programme of 2024 has contributed in no small measure to the positive turnaround in the profitability of the group compared to a year ago”.
Agbebaku assured that the board continued to appreciate the shareholders for their support and confidence and noted how they had enabled the company to deal with the challenges of recent years.
Integration complete
Nigerian Breweries corporate affairs director Uzodinma Odenigbo said: “I am pleased to announce that we have now completed the full integration of Distell Nigeria, and we have now installed a state-of-the-art manufacturing facility in our Ibadan Brewery for the production of the Distell Wines and Spirit Brands”.
Odenigbo reiterated that this is in line with the business’s ambition to become a “total beverage company” that produces other drinks products in addition to its beer remit.
Last year, Nigerian Breweries converted loans into equity in a bid to reduce its debt with parent company Heineken. The move was categorised as an “inter-company loan” and addressed amounts owed to shareholders.
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