Nigerian Breweries Plc says its market capitalisation grew by 135 percent in 2025, rising from N991.5 billion in 2024 to N2.33 trillion.
The Chairperson of the company, Juliet Anammah, disclosed this at its 80th pre-Annual General Meeting (AGM) news conference.
This was as contained in the company’s 2025 Annual Report and Accounts.
Anammah attributed the performance to key economic reforms and policy shifts that strengthened Nigeria’s investment climate.
She said: “Nigerian Breweries sustained strong momentum on the bourse, achieving a 135 percent year-on-year growth in market capitalisation to close at N2.33 trillion.
“This reinforces our position as one of the most capitalised companies on the Nigerian Exchange.”
Anammah noted that the equities market recorded one of its strongest performances in nearly two decades, with a 51 percent year-on-year gain and total market capitalisation of N99.4 trillion.
According to her, reforms such as the rebasing of Nigeria’s Gross Domestic Product (GDP) provided a more accurate reflection of economic activities, capturing emerging sectors including digital services, small-scale refining and the creative industry.
She added that Nigeria’s removal from the Financial Action Task Force (FATF) grey list in 2025 boosted investor confidence and enhanced international credibility.
She said the signing into law of four tax reform bills also marked a major milestone in restructuring the country’s tax system, aimed at simplifying processes and broadening the tax base.
“These developments collectively drove positive sentiment in the capital market and supported our strong performance on the bourse,” she said.
On dividends, Anammah said the company did not recommend any payout for the 2025 financial year due to negative retained earnings.
According to her, accumulated losses must be fully offset before profit distribution can resume.
She, however, expressed optimism that the company would return to positive retained earnings in the near term and resume dividend payments.
Anammah also urged shareholders with outstanding dividend entitlements to claim them, noting that some dividends had remained unclaimed for over 12 years.
She advised affected shareholders to complete and submit e-dividend mandate forms to the company’s registrar for prompt payment.
On financial performance, she said group revenue rose by 35 percent to N1.5 trillion, driven by effective pricing, strong performance of premium products and improved competitiveness.
She added that gross profit increased by 77 percent to N565 billion, while operating profit grew by 194 percent to N205 billion, supported by cost optimisation and supply chain efficiencies.
She said: “Notably, we reversed the losses recorded in 2023 and 2024, posting a profit before tax of N161 billion and a net profit of N99 billion, compared with losses in the previous year.
“The turnaround was further supported by an 83 percent reduction in net finance expenses, reflecting the benefits of the 2024 rights issue, which helped deleverage our balance sheet and settle outstanding foreign exchange obligations.”
