Nigerian Breweries leverages Heineken backing for growth – MD
Lagos, April 2026 (TBL Africa) Nigerian Breweries Plc says it is leveraging the backing of its majority shareholder, Heineken, to drive growth and strengthen its operations.
Its Managing Director, Mr 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.
“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 said.
He stated that the company recorded 35 per cent growth in revenue in 2025, while operating profit tripled compared to 2024, in spite of the challenging operating environment.
Boidin noted that the company returned to profitability, posting nearly N100 billion in net profit, its strongest performance in about a decade.
“I have to say that I’m very proud of these results. On all key metrics, we outperformed expectations. Revenue grew by 35 per cent, 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,” he said.
He noted that the business environment in 2025 remained volatile, driven by foreign exchange challenges, high inflation and weak consumer purchasing power.
“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,” he said.
According to him, pressure on consumers contributed to a decline in the overall beer market during the year.
“We saw significant pressure on purchasing power, and this explains why the overall beer market declined. This remains a concern for us,” he said.
Boidin said the company maintained a strong nationwide footprint, with nine breweries, one malting plant and 21 depots, giving it a competitive edge.
“We have a footprint that is quite unique in Nigeria. None of our competitors has this kind of presence across the country,” he said.
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.
“We are happy that we now have a three-year excise plan. It gives us more predictability, which is important for our investment decisions,” he said.
He attributed the improved performance to disciplined cost management and innovation, as well as collaboration with partners.
Boidin noted that the company’s brand portfolio performed strongly, with both international and local brands driving growth and market share gains.
He said the company strengthened its Corporate Social Responsibility and Sustainability efforts in 2025, translating its “Brew a Better World” (BaBW) agenda into measurable actions.
He explained that the company’s initiatives were anchored on three core pillars: Environmental, Social and Responsible, with a focus on driving impact across key areas of operations.
The managing director explained that the company’s activities during the year were guided by nine strategic ambitions.
This, he noted, included achieving Net Zero emissions, promoting circularity, protecting water and nature, advancing diversity, and ensuring fairness and safety.
He added that other priority areas included enhancing community impact, providing consumers with choices, encouraging moderation, and addressing harmful use of alcohol.
Boidin said by integrating these priorities into its operations, Nigerian Breweries continued to protect the environment, empower communities, and promote responsible consumption.
He noted that the approach also aligned with the United Nations Sustainable Development Goals (SDGs), ensuring that the company’s growth remains inclusive, equitable and sustainable.
Also, Maria Karaseva, Finance Director, Nigerian Breweries, said that the company had significantly reduced its exposure to foreign exchange (forex) risks as part of measures to strengthen its financial position.
Karaseva said that the company currently had no forex liabilities in terms of borrowings or investment needs, noting that this marked a major shift from its position over the past three years.
She said that Nigerian Breweries no longer had forex liabilities in the form of borrowings or investment needs, which meant that it was much less exposed to forex pressures than before.
According to her, the company had intensified efforts to localise its supply chain, increasing reliance on local suppliers while reducing dependence on imports.
She said that the strategy had played a critical role in sustaining operations during challenging periods.
Karaseva, however, acknowledged that it was not feasible for the business to be completely insulated from forex exposure, but assured that measures were in place to minimise risks.
She said that the company was leveraging financial tools, including indirect hedging, to cushion the impact of external shocks and uncertainties.
She added that the company was working to manage its cash and deploy various financial instruments to minimise exposure to external shocks and uncertainties.
