Nigerian Breweries Plc has released its financial results for the first quarter ended March 31, 2025, reporting a pre-tax profit of N69.9 billion.
This is a notable recovery from a pre-tax loss of N65.5 billion in the same quarter of 2024, primarily due to increased revenue and a significant reduction in foreign exchange losses.
Net revenue rose by 68.91%, increasing from N227.1 billion in Q1 2024 to N383.6 billion in Q1 2025.
- Meanwhile, the cost of sales went up by 49.45%, reaching N217.06 billion, up from N145.2 billion the previous year.
Despite this rise in costs, gross profits grew by 103.43%, reaching N166.5 billion compared to N81.8 billion in Q1 2024.
- On the downside, selling and distribution expenses increased to N66.2 billion from N45.01 billion in Q1 2024.
However, the group reported N85.2 billion in profits from core operations, a significant increase of 237.48% from N25.2 billion.
Finance income also grew, rising to N264.4 million, up 86.65% from N141.6 million.
- Positively, the group reduced net foreign exchange losses from N72.8 billion in Q1 2024 to just N178.01 million in Q1 2025.
- Additionally, finance costs were lowered from N18.1 billion to N15.3 billion, indicating improvement in financial management.
Key highlights:
- Net Revenue: N383.6 billion, +68.91% YoY
- Cost of Sales: N217.06 billion, +49.45% YoY
- Gross Profit: N166.5 billion, +103.43% YoY
- Selling and Distribution Expenses: N66.2 billion, +47.20%
- Operating Results: N85.2 billion, +237.48% YoY
- Net Loss on Foreign Exchange Transactions: N178.01 million, -99.75% YoY
- Finance Costs: N15.3 billion, -15.32% YoY
- Pre-tax Profit: N69.9 billion, 206.72% YoY
As of the trading day on 17th April 2025, shares of Nigerian Breweries are priced at N36.20, with a year-to-date performance of 13.13%.
