Nigerian Breweries Plc (NB) has announced its 2024 full-year audited results, revealing a loss after tax of ₦144.88 billion.

This represents a significant increase from the ₦106.31 billion loss recorded in the previous year.

Despite reporting an 80.8% year-on-year revenue growth, driven by price increases and volume growth, the company’s margins were severely impacted by sustained cost pressures and foreign exchange losses.

The brewer’s gross margin declined by 596 basis points to 29.4%, while EBIT and EBITDA margins contracted to 6.4% and 11.5%, respectively.

Looking ahead to 2025, analysts expect price increases and volume gains to support NB’s revenue growth.

However, lingering cost pressures and elevated finance costs are anticipated to remain significant headwinds to profitability.