Prime Business Africa
After recording losses for over six years, International Breweries Plc has returned to profit in 2025 after an improvement in the company’s financial assets value and achieving its first net finance income in more than half a decade.
In the company’s unaudited condensed financial statements for the 3 months ended December 31, 2025, Prime Business Africa analysis showed that International Breweries’ top line grew by 26.83 percent year-on-year.
Join our WhatsApp ChannelInternational Breweries generated N620.14 billion from the sales of its product in 2025, compared to the N488.95 billion generated between January and December 2024.
This was after the brewer incurred N415.70 billion in production costs in 2025, which exceeded the N357.60 billion expended in the previous year, representing a 16.24 percent increase.
Prime Business Africa analysis showed that production costs gulped 67.03 percent of revenue last year, down from the 73.13 percent recorded in 2024.
Following the costs of sales deduction, International Breweries notched up N204.44 billion gross profit in 2025, which increased by 55.64 percent when compared to the N131.35 billion reached in the year before.
The company’s earning was further depleted by an 18.17 percent year-on-year increase in administrative, marketing and distribution expenses, which grew from N108.46 billion to N128.18 billion.
However, this was offset by an impairment reversal on financial assets, which was N475.73 million last year, compared to the N453.97 million impairment charge incurred in 2024, and a 97.36 percent decline in other expense, as it dropped to N2.99 billion, from N113.50 billion.
Consequently, International Breweries closed the period under review with a N73.74 billion operating gain, against the N91.07 billion operating loss last year.
Further checks showed that the brewer saw money earned from investments or bank balances increase by 29.07 percent year-on-year, as finance income climbed up from N14.01 billion to N18.08 billion, while interest paid on loans and other expenses by the company dropped by a whopping 80.66 percet, as it recorded N6.71 billion as finance costs in 2025, compared to the previous year’s N34.75 billion.
This led to International Breweries recording its first net finance income in about six years, after posting N11.36 billion last year, compared to the N20.74 billion net finance costs in 2024.
As a result, International Breweries, for the first time in over half a decade, did not report a pre-tax loss, as the company earned N85.10 billion profit after tax (PAT) in 2025, exiting last year’s N111.82 billion loss after tax.
Following the turnover in profitability, the drink producer saw its tax expense jump significantly by 1,113.42 percent to N21.77 billion in 2025, from N1.79 billion paid as income tax in 2024.
Regardless, International Breweries turned in N63.33 billion profit after tax (PAT), putting behind the N113.61 billion post-tax profit suffered in the year before.
This will boost the company’s retained earnings, which have been negative, after recording N178.61 billion retained loss in 2025 (down from N241.94 billion in 2024), and also create the possibility of International Breweries’ shareholders receiving dividends for their investments for the first time in about six years.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
