Nigerian Breweries Plc has announced a Group Revenue of N1.04 trillion for the nine months ended September 30, 2025, representing a 48 per cent increase from the N703 billion recorded in the same period of 2024.
According to the company’s unaudited financial statements released on the Nigerian Exchange Limited (NGX), the brewer’s cost of sales rose from N495 billion in 2024 to N627 billion in 2025, while marketing, distribution, and administrative expenses climbed 38 per cent, from N184 billion to N254 billion. The firm attributed the increase to intensified brand promotion and sales activities during the period.
In a statement, the Company Secretary and Legal Director, Uaboi Agbebaku, said Nigerian Breweries recorded solid growth despite the challenging operating environment characterised by high inflation and elevated input costs.
He said the company strengthened its market leadership through a combination of premiumisation, enhanced competitiveness, and an improved route-to-market strategy.
“The Group’s revenue grew 47 per cent, supported by appropriate pricing and the strong performance of our premium portfolio,” Agbebaku stated. “Operating profit improved significantly, supported by cost management and supply chain efficiencies, while net profit rose 157 per cent, driven by strong operating profit and lower finance costs. The Rights Issue programme of 2024 also contributed immensely to the turnaround in profitability compared to a year ago.”
Agbebaku, however, noted that the third quarter of 2025 experienced a seasonal dip in demand alongside a one-off impairment charge linked to the integration of its subsidiary, Distell Wines and Spirits Nigeria Limited, which resulted in a net loss for the quarter.
He expressed confidence that the final quarter of 2025 would witness stronger performance due to increased consumer spending during the festive season, adding that the company’s full-year results are expected to remain positive.
The Board of Directors of Nigerian Breweries also appreciated shareholders for their continuous confidence and support, which have helped sustain the company’s recovery and reinforce its commitment to long-term growth.
Nigerian Breweries, a member of the Heineken Group, remains one of Nigeria’s largest brewers, with a portfolio that includes popular brands such as Star Lager, Gulder, Maltina, Fayrouz, and Heineken. The company continues to focus on operational efficiency, local sourcing, and premium product innovation to strengthen its leadership in the competitive beverage industry.
