Nigeria’s Biggest Brewer Swings to N99bn Profit After Two Years of Losses
The Nigerian Breweries has reported a profit after tax of N99.10 billion for 2025, compared with a loss of N144.88 billion in the previous year.
The country’s biggest brewer saw its revenue rise by 35 percent to N1.47 trillion last year, “supported by sustained innovation, premiumisation, right pricing, and strong commercial execution”, according to its earnings release on Friday.
It said the rebound in net profit was aided by an 83% reduction in net finance costs following “the successful 2024 rights issue which helped to deleverage the balance sheet and eliminate foreign currency exposures”.
“Despite the positive 2025 results, the company’s retained earnings position remained in the negative, arising from the heavy net losses suffered in the last two years,” the brewer said. “The board is nevertheless pleased that the journey to reversing the negative position is proceeding in line with expectations.”
The Lagos-listed Nigerian Breweries noted that its acquisition and integration of Distell Wines and Spirits Nigeria Limited was completed in 2025 with a one-off integration cost.
It said the integration will help to expand the company’s beyond beer portfolio and contribute to its long-term growth prospects.
“The board is confident that with the continuing support of Shareholders as well as the continuous focus on agility, innovation, revenue management, and financial discipline, the company is set for sustainable growth and long-term value creation for the shareholders,” the brewer said.
