L-R: Corporate Affairs Director, Nigerian Breweries Plc, Uzodinma Odenigbo; Human Resource Director, Nigerian Breweries Plc, Grace Omo-Lamai; Managing Director, NB Plc, Thibaut Boidin; Finance Director, NB Plc, Maria Karaseva, and Company Secretary/ Legal Director, NB Plc, Uaboi Agbebaku during the 2026 Pre-Annual General Meeting media briefing held in Lagos recently.
The managing director/CEO, Nigerian Breweries Plc, Mr. Hans Essaadi said, the 135 per cent appreciation in the company’s stock value in 2025 financial year, is a clear signal of renewed investor confidence in its long-term fundamentals.
Speaking at the 80th Pre-Annual General Meeting media briefing in Lagos at the weekend, Essaadi noted that, the recent stock rally solidifies NB Plc’s market dominance and serves as a validation of the difficult but necessary strategic decisions it took over the last 18 months.
Despite the volatile environment that saw some players exit the country, we stayed, we reinvested, and today, we are navigating this crisis from a position of strength, he boasted.
This development follows an encouraging 2025 financial year as the Group made a significant rebound from the macroeconomic challenges of 2024. The Group revenue grew 35 per cent, supported by sustained innovation, premiumisation, right pricing, and strong commercial execution.
Similarly, the Group’s operating profit grew by over 190 per cent, reflecting rigorous cost discipline and supply chain efficiencies, even as this led to a 168 per cent rebound in net profit, swinging from a heavy net loss position a year earlier.
The capital injection from the 2024 Rights Issue proved pivotal, resulting in an 83 per cent reduction in net finance costs. Financial data presented showed that, total borrowings plummeted from over N200bn in 2024 to approximately N59bn by the end of 2025, effectively eliminating the company’s foreign currency exposures.
Contributing to the performance in 2025, Finance director, Maria Karasewa, explained that the firm has now achieved a “cash-positive” status.
“In the aircraft, you need to put your own mask on first before you attend to others. Our mask now works; we are financially strong today, which allows us to now focus entirely on our consumers and shareholders,” Karasewa remarked. By clearing our dollar-denominated debts, we have removed the primary source of the distress we faced in 2024,” she assured.
The company disclosed the full acquisition and integration of Distell Wines and Spirits Nigeria Limited in 2025. Despite a one-off integration cost, the board stressed that the move expands the company’s ‘beyond beer” portfolio and bolsters long-term growth prospects.
Reflecting on the impact of ongoing Middle East crisis, the CEO revealed that, the company’s “scenario planning” for 2026 has already accounted for potential triggers, with a renewed focus on local sourcing.
“Nigeria for now is protected because we anticipated these macroeconomic shifts. We are moving beyond just ‘political’ support for local sourcing into a marathon roadmap that involves direct infrastructure and financing for smallholder farmers,” Essaadi pointed out.
Despite the return to profitability, the company clarified that, its retained earnings position remains in the negative due to the heavy losses suffered in the previous two years.
The company secretary, Uaboi G. Agbebaku, said, the board expressed satisfaction that the journey to reversing this negative position is proceeding in line with expectations.
“Dividend payment is not based solely on whether you have made a profit in a single year. To be able to pay, we must clear our accumulated losses. However, the 135 per cent increase in share price value is the first step in that value-creation journey for our loyal shareholders,” the company noted.
