NB posts N1tn net revenue in H1, clears debt

n n

Nigerian Breweries Plc has reported a strengthened financial position in the first half of 2026, emerging debt-free with improved cash generation, positive retained earnings, and a stronger balance sheet following a strategic recovery from previous operational challenges.

n

The Finance Director of the company, Maria Karaseva, disclosed this during an investor call held on Friday.

n

According to Karaseva, the brewing giant recorded net revenue exceeding N1tn while maintaining an asset base of approximately N1tn over the six-month period, reflecting steady operational recovery and financial resilience.

n

She noted that the company increased its cash performance by 264 per cent, generating N73bn in net free operating cash flow compared with the corresponding period in 2025. This improvement enabled the full settlement of outstanding loans, allowing the firm to close the reporting period with zero borrowings.

n

She added that the company’s internal productivity programme delivered N76bn in efficiency gains and expanded its gross profit margin by two percentage points. These measures helped cushion the impact of macroeconomic pressures, supporting an 18 per cent year-on-year growth in profit before tax.

n

Karaseva stated that the corporate results demonstrate the effectiveness of deliberate financial discipline, working capital optimisation, and sustained cost-management initiatives across business operations.

n

“Our focus throughout the period was to strengthen cash generation and build a more resilient financial position. By improving our cash conversion, managing working capital more efficiently, and translating productivity gains into cash, we generated N73bn in net free operating cash flow, fully repaid our loans, and returned retained earnings to positive territory,” she said.

n

Looking ahead, the Finance Director affirmed the company’s commitment to sustaining disciplined cost management, driving volume growth, reducing foreign-exchange risk exposure, and mitigating inflation through enhanced operational efficiency.

n n