International Breweries Plc recorded a strong rebound in its financial performance for the 2025 financial year, as revenue rose by 26.8 per cent to N620.1 billion, from N489.0 billion in the corresponding period of 2024.
The impressive revenue growth was driven largely by improved beer sales volumes, better pricing strategies, and stronger market demand across the company’s product portfolio. The performance also reflects a gradual recovery in consumer spending and increased patronage of the brewer’s brands.
According to the company’s profit and loss statement for the year ended 31 December 2025, cost of sales increased to N415.7 billion, representing a 16.3 per cent rise from N357.6 billion in 2024. The increase was attributed to higher costs of raw materials, packaging, energy, and logistics.
Despite the rise in production costs, revenue growth outpaced cost increases, leading to a significant improvement in profit margins. Gross profit surged by 55.6 per cent to N204.4 billion, compared with N131.4 billion in the previous year, underscoring enhanced operational efficiency and better cost absorption.
Administrative, marketing, and distribution expenses also rose by 18.2 per cent to N128.2 billion, from N108.5 billion in 2024. This increase reflected higher spending on brand visibility, route-to-market expansion, personnel costs, and distribution activities.
The brewer posted a profit before tax of N85.1 billion, marking a major turnaround from a loss before tax of N111.8 billion recorded in 2024. After accounting for income tax expenses of N21.8 billion, profit for the year stood at N63.3 billion, compared with a loss of N113.6 billion in the prior year.
Earnings per share improved significantly, turning positive at 38 kobo, from a loss of 116 kobo in 2024.
International Breweries’ balance sheet also showed notable strengthening. Total assets rose by 1.9 per cent to N741.5 billion, from N727.9 billion in 2024, supported by increased investments in property, plant, and equipment, which climbed to N339.8 billion from N287.6 billion. This reflects ongoing capacity expansion and operational upgrades.
Liquidity improved markedly, with cash and cash equivalents rising by 42.8 per cent to N155.7 billion, compared with N109.0 billion a year earlier. Trade and other payables declined by 21.5 per cent to N189.4 billion, easing pressure on short-term obligations.
Retained losses narrowed to N178.6 billion, representing a 26.2 per cent improvement from N241.9 billion in 2024, further strengthening shareholders’ funds. As a result, total equity increased by 14.1 per cent to N512.2 billion, from N448.9 billion in the previous year.
International Breweries ended the year with no outstanding borrowings or overdrafts, reinforcing its improved financial stability and marking a decisive return to profitability.
