By Sofiyyah Layole
International Breweries Plc has reported a profit after tax (PAT) of ₦57.83 billion for the nine months ended September 30, 2025, marking a dramatic turnaround from a loss of ₦112.81 billion recorded in the same period last year.
The company’s recovery was driven by strong revenue growth, improved operating efficiency, and favorable foreign exchange movements, according to its unaudited financial statements released to the Nigerian Exchange (NGX).
Revenue for the nine-month period surged by 37.5 percent to ₦472.57 billion, up from ₦343.45 billion in 2024. For the third quarter alone, revenue climbed to ₦131.58 billion from ₦120.25 billion in Q3 2024, reflecting sustained consumer demand despite inflationary pressures in the economy.
Gross profit rose significantly to ₦160.92 billion, compared to ₦94.87 billion last year, while operating profit improved to ₦67.01 billion, a sharp reversal from the ₦125.40 billion loss reported in 2024.
In Q3 2025, quarterly profit also jumped to ₦16.54 billion, compared to a ₦6.03 billion loss in the corresponding quarter of 2024.
The brewer benefited from reduced finance costs and an improvement in net finance income, which stood at ₦7.20 billion, up from a ₦29.15 billion finance loss last year.
This was supported by increased interest income and lower interest expenses, with the company confirming it had no outstanding loans at the end of the review period.
International Breweries also recorded foreign exchange gains, as unrealised forex gains rose to ₦8.72 billion from ₦3.84 billion in 2024.
However, it reported a realised forex loss of ₦13.51 billion due to currency volatility. Despite these challenges, the company maintained strong profitability amid a difficult macroeconomic environment.
Total assets slightly declined to ₦713.19 billion as of September 2025, from ₦727.87 billion in December 2024. Retained losses improved from ₦241.95 billion to ₦184.12 billion, while shareholder equity strengthened to ₦506.74 billion, up from ₦448.91 billion at the end of last year.
Operating cash flow improved notably, rising to ₦34.10 billion from a negative ₦12.95 billion recorded in 2024, indicating enhanced liquidity and operational efficiency. Earnings per share (EPS) recovered to ₦0.34, compared to a loss per share of ₦0.67 last year.
The board of directors reaffirmed the company’s commitment to sustainability and operational optimisation, stating that International Breweries remains a going concern with no plans to halt any production lines. The company said it will continue to prioritise market competitiveness and efficiency in the final quarter of 2025.
