Nigerian Breweries Grows Turnover to N1.04trn in Q3
Nigerian Breweries Plc grew its topline by 48 per cent to N1.04 trillion in the third quarter as the company expanded consumer sales activities.
The company has also completed the full integration of Distell Nigeria into its operations. The integration followed the full acquisition of the company in March 2025.
The interim report and accounts for the nine-month period ended September 30, 2025 showed that total revenue rose from N703 billion in third quarter 2024 to N1.04 trillion in third quarter 2025. Cost of sales rose from N495 billion in third quarter 2024 to N627 billion in the period under review.
Marketing, distribution, and administration expenses went up by 38 per cent from N184 billion in third quarter 2024 to N254 billion in third quarter 2025 driven by increased brand and sales activities.
The company witnessed a major rebound in profitability with pre-tax profit of N129.47 billion in third quarter 2025 as against loss of N203 billion in comparable period of 2024. After taxes, net profit stood at N85.5 billion in 2025 as against net loss of N149.50 billion in 2024. Earnings per share thus improved from a loss of N14.55 to positive earnings of N2.75.
Company Secretary and Legal Director, Nigerian Breweries Plc, Uaboi Agbebaku, in a statement, said the company was still able to deliver strong growth in the topline and in the operations during the period under review despite a high double-digit inflation rate which continues to constrain consumer spending and high input costs.
Agbebaku explained that the company was also able to consolidate its market leadership, which was primarily influenced by premiumisation, increased competitiveness, and enhanced route-to-market.
He said: “The group’s revenue grew by 47 per cent, 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 per cent 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”.
He added that as earlier anticipated, the third quarter of 2025 itself witnessed the seasonal market demand decline which, together with a one-off impairment charge relating to the integration of its subsidiary, Distell Wines and Spirits Nigeria Limited, resulted in a net loss in the quarter. With a rebound expected in the market in the last quarter of the year due to the usual peak period associated with year-end festivities, the Board expects the full year results to remain positive.
He said the board continued to appreciate the shareholders for their unwavering support and confidence, which have enabled the company to deal with the challenges of the last couple of years, and maintain a path towards recovery and long-term growth.
Corporate Affairs Director, Nigerian Breweries Plc, Uzodinma Odenigbo, at a media parley in Lagos, said Nigerian Breweries has completed the installation of a state-of-the-art manufacturing line for Distell brands at the Ibadan Brewery and has since commenced the manufacturing of Distell wines and spirit brands, including Chamdor, 4th Street.
He 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”.
He explained that the full integration is in line with Nigerian breweries’ ambition to become a ‘Total Beverage Company’, which goes beyond beer.