By Joy Baba-Yesufu
Nigerian Breweries Plc has projected a positive economic outlook for 2025, despite posting a net loss of N145 billion in 2024. The optimism is fueled by expectations of easing inflation, exchange rate stability, and improvements in the energy sector.
At the company’s 79th Pre-AGM media briefing in Lagos, Managing Director Hans Essaadi expressed confidence in macroeconomic reforms, citing the impact of fuel subsidy removal, improved refining capacity from Dangote Refinery, and reduced forex pressure.
“Nigeria’s recovery hinges on structural reforms, especially in revenue generation, debt management, and fiscal discipline,” Essaadi said.
In 2024, the company recorded its highest-ever revenue of N1.1 trillion, an 81% year-on-year growth. However, steep FX losses and rising interest rates drove finance costs up to N253 billion, resulting in the N145 billion loss—up from N105.76 billion in 2023.
Strategic measures, including a N600 billion rights issue, brewery consolidation, and the acquisition of Distell Wines and Spirits Nigeria, helped stabilise operations. Finance Director Bernardus Boer noted that FX liabilities were mostly cleared, with local debt reduced from N600 billion to N200 billion.
Despite headwinds, total equity rose by 614% to N465.47 billion, and share capital increased by 201.5% to N15.49 billion—signaling a stronger balance sheet for 2025.
Looking ahead, the brewer is banking on improved consumer spending, wage restructuring, and sustainable business practices. “We’re committed to long-term growth and responsible governance,” said Corporate Affairs Director Sade Morgan.
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