Nigerian Breweries reports a N1.10tn revenue for the first nine months of 2026, driven by premium brands and lower finance expenses.
Nigerian Breweries Plc has announced a strong financial performance for the nine months ended September 30, 2026. The major brewing company recorded a total revenue of N1.10tn during this period.
This financial milestone represents a five per cent increase compared to the N1.05tn reported in the corresponding period of 2025. The results highlight the resilience of the company despite constrained consumer disposable income, according to information published by punchng.
Led by Managing Director and Chief Executive Officer Thibaut Boidin, the firm expanded its market share through strategic execution. The performance was supported by strong sales in the premium segment featuring brands like Heineken and Desperados.
Financial Highlights and Gross Profit Growth
The company reported a 15 per cent rise in gross profit, reaching N477.9bn for the first nine months of 2026. Results from operating activities also grew by 10 per cent to N179.2bn, reflecting strict operational control.
Profit after tax experienced a significant 33 per cent increase, reaching N114.1bn compared to previous periods. Similarly, profit before tax surged by 33 per cent to N171.7bn, aided by a 78 per cent reduction in net finance expenses.
Third Quarter Return to Profitability
In a major turnaround, Nigerian Breweries returned to profitability in the standalone third quarter of 2026. This ended a streak of consecutive third-quarter losses that began back in 2022.
Between July and September 2026, the company recorded a net profit of N21bn. This is a dramatic improvement compared to the net loss of N4bn reported during the exact same period in 2025.
Strategic Focus on Cost Management and Brands
Managing Director Thibaut Boidin emphasized that the positive results reflect disciplined execution. Despite continued pressure on consumer spending, the business successfully strengthened its overall market position.
The company also improved its financial standing through careful cash generation and working-capital management. A healthy net cash position at the end of the period now provides a firmer foundation for future operational priorities.
Outlook for the Full Year 2026
Looking ahead, Thibaut Boidin affirmed the firm's ongoing commitment to maintaining growth momentum. Management plans to achieve this through rigorous cost control and continued investments behind major product portfolios.
Although the wider operating environment remains demanding, leadership maintains a highly positive outlook for the full year 2026. The brewing giant remains confident in the fundamental strength of its business model.
Frequently Asked Questions
What was the revenue of Nigerian Breweries in 2026?
Nigerian Breweries recorded a revenue of N1.10tn for the first nine months of 2026, representing a five per cent increase from the previous year.
Who is the Managing Director of Nigerian Breweries?
Thibaut Boidin serves as the Managing Director and Chief Executive Officer of Nigerian Breweries Plc, leading its strategic execution and market expansion.
Did Nigerian Breweries make a profit in the third quarter of 2026?
Yes, the company returned to profitability in the third quarter of 2026 with a net profit of N21bn, ending consecutive losses recorded since 2022.
