Nigerian Breweries strong recovery follows 35% revenue surge and return to profit as firm outlines growth ahead of 80th AGM
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Nigerian Breweries Plc, the pioneering brewery established in 1946 and one of Nigeria’s most iconic companies, hosted a Pre-Annual General Meeting media briefing on 16 April 2026 at the Sheraton Hotel in Ikeja, Lagos.
The session offered media representatives an update on the company’s performance and strategic direction ahead of its 80th Annual General Meeting.
Senior executives present included Thibaut Boidin, Managing Director and Chief Executive Officer; Maria Karaseva, Finance Director; Uaboi Agbebaku, Company Secretary; Grace Omo-Lamai, Human Resources Director; and Dr. Uzodinma Odenigbo, Corporate Affairs Director.
Dr. Odenigbo described the past year as one that tested the company yet also brought out its best qualities.
As Nigerian Breweries nears its 80th anniversary, he said it provides a timely opportunity to reflect on the company’s long legacy of innovation and contribution to the Nigerian economy.
Thibaut Boidin, Managing Director and Chief Executive Officer, underscored the company’s commitment during difficult times.
“A lot of companies left during the crisis but we stayed,” he stated.
He thanked members of the media for their accurate and consistent reporting throughout the challenging period and expressed the desire for an ongoing partnership.
Boidin identified two key pressure points facing the business: the purchasing power of consumers and government policies. He added that a stable operating environment would enable better planning.
Despite these challenges, Boidin expressed measured optimism.
“We feel things are going in the right direction, but we believe more could still be achieved.”
He described Nigerian Breweries’ portfolio as the highest quality and most resilient in the Nigerian market, with particular strength in the Heineken brand.
“Our brands are going stronger,” he noted.
The company continues to recruit consumers into its operations and achieved its turnaround through close collaboration with its entire ecosystem of partners and stakeholders.
The 2025 financial year delivered a strong rebound after several years of losses.
Group revenue reached 1.47 trillion naira, a 35 percent increase from the previous year, even amid high inflation and subdued consumer spending.
Operating profit rose 194 percent to 205.2 billion naira, while the company recorded a net profit of 99.1 billion naira, reversing a significant loss from 2024.
This improvement was supported by an 83 percent reduction in net finance costs following the successful 2024 Rights Issue, which strengthened the balance sheet and removed foreign currency exposures.
Boidin credited the recovery to improved operational efficiencies, productivity gains, disciplined cost management, and a modernised and focused team.
“Nothing is possible if you do not have the best team. In this industry, you cannot find a better team than the one we have at Nigerian Breweries. Our people are our greatest assets,” he emphasised.
Maria Karaseva, Finance Director, described 2025 as a successful year.
“We have a strong belief that with the 2025 financial rebound, we will be more prepared for any challenge that 2026 may bring.”
Boidin added that the company has learned valuable lessons and emerged from the crisis stronger and with greater capabilities.
Looking forward, the leadership team positioned 2026 as a year of growth, with sustained focus on expansion toward 2030.
Boidin acknowledged emerging external challenges, including the crisis in the Middle East, but expressed confidence that the company would navigate them successfully.
“We strongly believe that we will come out strong.”
The company will not distribute dividends for the 2025 financial year, as retained earnings remain negative following prior losses.
Boidin described the recovery as very strong yet cautioned that the business is “not yet out of the woods.”
The briefing reinforced Nigerian Breweries’ position as a resilient industry leader built on premium brands, operational excellence, and a dedicated workforce.
As the company prepares for its milestone 80th anniversary and the Annual General Meeting scheduled for 23 April 2026, it remains committed to delivering long-term value for consumers, partners, and the broader Nigerian economy.
Established in 1946, Nigerian Breweries Plc is Nigeria’s first and largest brewing company.
Also read: Nigerian Breweries empowers retailers to boost growth
Part of the Heineken Group, it offers a premium portfolio of beer and non-alcoholic beverages and continues to invest in innovation, sustainability, and community development across the country.
