Nigerian Breweries Achieves Debt-Free Status in H1 2026

Nigerian Breweries Plc strengthened its financial position in the first half (H1) of 2026, emerging debt-free with improved cash generation and positive retained earnings. During an investor call on August 28, 2026, Maria Karaseva, finance director, disclosed that the company recorded net revenue exceeding N1 trillion and maintained an asset base of approximately N1 trillion.

The company increased its cash performance by 264%, generating N73 billion in net free operating cash flow compared to the same period in 2025. This financial improvement allowed for the full repayment of outstanding loans, resulting in zero borrowings at the end of the reporting period.

The productivity program contributed N76 billion in gains, expanding the gross profit margin by two percentage points. These operational enhancements helped mitigate the effects of inflation and the Middle East crisis, leading to an 18% year-on-year increase in profit before tax (PBT).

Karaseva emphasized that these results reflect effective financial discipline and strong working capital management.