Nigerian Breweries leverages Heineken backing for growth – MD

Nigerian Breweries Plc says it is leveraging the backing of its majority shareholder, Heineken, to drive growth and strengthen its operations.

Its Managing Director, Thibaut Boidin, disclosed this on Thursday during the company’s 80th Pre-Annual General Meeting news conference in Lagos, where he presented the firm’s 2025 results and outlook for 2026.

Boidin said: “Our majority shareholder is Heineken, and that gives us strong financial power. 

“We are able to leverage the strength of the Heineken Group across the world, and this is very important for our future.”

He stated that the company recorded 35 percent growth in revenue in 2025, while operating profit tripled compared to 2024, in spite of the challenging operating environment.

He said the company returned to profitability, posting nearly N100 billion in net profit, its strongest performance in about a decade.

Boidin said: “I have to say that I’m very proud of these results. 

“On all key metrics, we outperformed expectations. 

“Revenue grew by 35 percent, and we tripled our operating profit.

“For the first time in about 10 years, we delivered this level of net profit. 

“It shows that the company has come out of the crisis and is now much stronger.”

Boidin noted that the business environment in 2025 remained volatile, driven by foreign exchange challenges, high inflation, and weak consumer purchasing power.

He said: “We are operating in a very complex environment. 

“Even though it is more stable than previous years, inflation, borrowing costs and FX pressures are still very high and impacting the business.”

According to Boidin, pressure on consumers contributed to a decline in the overall beer market during the year.

He said: “We saw significant pressure on purchasing power.

“And this explains why the overall beer market declined. 

“This remains a concern for us.”

Boidin said the company maintained a strong nationwide footprint, with nine breweries, one malting plant, and 21 depots, giving it a competitive edge.

He said: “We have a footprint that is quite unique in Nigeria. 

“None of our competitors has this kind of presence across the country.”

He added that the company recently reorganised its sales structure into three regions: North, West and East, to improve proximity to customers.

On policy, Boidin emphasised the importance of a stable fiscal environment, particularly regarding excise duties.

He said: “We are happy that we now have a three-year excise plan. 

“It gives us more predictability, which is important for our investment decisions.”