Cadbury Nigeria Plc has released its audited financial results for the year ended December 31, 2024, reporting a pre-tax loss of N28.3 billion, an improvement from the N32.2 billion loss recorded the previous year.
The company achieved a full-year revenue of N129.1 billion, up from N80.3 billion in the prior year, marking a year-over-year growth of 60.7%.
The growth in revenue was primarily driven by sales of refreshments and beverages, with domestic sales accounting for 88.6% of total revenue at N114.3 billion, while export sales contributed N14.8 billion
On the cost side, the cost of sales rose significantly to N110.9 billion, representing an increase of 75.97% from the N63 billion reported the previous year.
- This uptick was primarily driven by an increase in finished goods, raw materials, and packaging expenses, which rose to N89.2 billion from N47.464 billion in 2023.
Gross profit grew by 5.13% to N18.2 billion from N17.3 billion in 2023, while operating profit declined to N5.9 billion from N7.872 billion in 2023.
Other key highlights (2024 vs. 2023)
- Revenue: N129.1 billion, +60.70% YoY
- Cost of sales: N110.9 billion, +75.97% YoY
- Gross profit: N18.2 billion, +5.13% YoY
- Operating income: N5.9 billion, -24.27% YoY
- Finance cost: N34.7 billion, -18.08% YoY
- Pre-tax loss: N28.3 billion, -12.17% YoY
- Total Assets: N72.4 billion, +12.40% YoY
- Retained loss: N37.2 billion, +147.46% YoY
As of the close of trading on March 28, 2025, Cadbury’s share price stood at N23.55, reflecting a YTD return of 9.53%. In comparison, the stock recorded a YTD gain of 13.16% in 2024
