Nigerian Brewery Stocks Surge in 2025 as Profits Return
TLDR
- Brewery companies listed on the Nigerian Exchange (NGX) have posted strong performances in 2025, driven by improved earnings, reduced FX losses, and rising investor confidence
- The NGX Consumer Goods Index is up 57% year-to-date, fueled by gains across the sector
- Nigerian Breweries saw a 94.8% increase in share price. It posted ₦69.9 billion pre-tax profit in Q1 2025, reversing a ₦65.5 billion loss
Brewery companies listed on the Nigerian Exchange (NGX) have posted strong performances in 2025, driven by improved earnings, reduced FX losses, and rising investor confidence. The NGX Consumer Goods Index is up 57% year-to-date, fueled by gains across the sector.
Champion Breweries leads with a 246.46% year-to-date share price increase. Its Q1 2025 results showed a pre-tax profit of ₦1.7 billion, reversing a ₦798.4 million loss in the prior year. Revenue rose 93.75% to ₦8.4 billion, and FX losses were eliminated.
International Breweries posted a 176.6% share gain, moving from ₦5.20 to ₦15.35. Its Q1 pre-tax profit was ₦35 billion, up from a ₦89.3 billion loss last year. Revenue rose 68.21% to ₦173.6 billion, while FX losses dropped to ₦581.4 million.
Nigerian Breweries saw a 94.8% increase in share price. It posted ₦69.9 billion pre-tax profit in Q1 2025, reversing a ₦65.5 billion loss. Revenue hit ₦383.6 billion, with FX losses falling to ₦178 million.
Guinness Nigeria rose 25.3%, backed by a Q1 pre-tax profit of ₦10.2 billion, versus a ₦56 billion loss a year earlier. Revenue increased to ₦118.3 billion, and finance costs dropped to ₦24 billion.
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Key Takeaways
The rally in Nigerian brewery stocks reflects a broader rebound in consumer-facing industries, supported by currency stabilization and cost control. FX losses were a major drag in 2024 as the naira depreciated sharply and financing costs spiked. With a more stable exchange rate environment in early 2025, firms were able to reprice products, cut debt exposure, and rebuild margins. The return to profitability across all major brewers signals operational resilience and renewed pricing power, even amid high inflation and low consumer spending. The performance also highlights the market’s sensitivity to earnings surprises, with stocks like Champion and Nigerian Breweries seeing sharp gains after Q1 releases. If macro conditions remain stable, analysts expect further investor interest in the sector, with potential upside from dividend reinstatements and stronger second-half earnings.
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