Building on the momentum of a strong Full Year 2021, International Breweries began the new year on a positive note with significant revenue and profit growth in the first quarter (Q1) of 2022.
Riding on the back of firm consumer demand for its brands; robust revenue management; and volumes growth ahead of industry peers, International Breweries revenue grew by nearly 48% in Q1, 2022.
“Based on a consistent commercial strategy, we are growing ahead of our industry, and have continued our journey to profitability, which translates in strong results. We remain committed to create value to our stakeholders consistently,” said Hugo Dias Rocha, Managing Director of International Breweries.
International Breweries saw consistent growth across all its portfolio of products in the first quarter.
By focusing on profitability, it enabled its high-end company brands to grow healthy in the market, with global brand, Budweiser and the newest innovation, Trophy Extra Special Stout on a growth path as part of the High-End growth of above 40%.
In terms of profitability, International Breweries gross profits grew by 307% while gross margins expanded by +1800 basis points.
In absolute terms, International Breweries returned to profitability in Q1, 2022 as it delivered a positive operating profit of N7.8 billion (excluding net FX losses) and Profit Before Taxes of N1.9 billion amidst cost headwinds.
“Through this profitability, we plan on the further strengthening of our brands through powerful campaigns and commercial actions to grow in market,” Rocha said.
In the reporting period, International Breweries was given recognition by LinkedIn as one of the top best places to work in Nigeria.
The recognition was for the No 1 best place to work in the fast moving consumer goods (FMCG) category and 5th on the list across various industries.
“It is a testament to our commitment to recruit and retain talents who continue to thrive in an enabling environment as they continue to contribute to the sustainability of our business,” Rocha said.
International Breweries Plc (IBPLC) part of the world’s largest brewer, Anheuser-Busch InBev, (ABInBev), the world’s largest brewer with over 400 beer brands.
In Nigeria, IBPLC is the producer of Trophy Lager, Trophy Extra Special Stout, Hero and Budweiser and other popular beer brands, while having a non-alcoholic malt beverages portfolio that includes Beta Malt & Grand Malt.
IBPLC was established in December 1971 and was listed on The Nigerian Stock Exchange in 1995. The company, ABInBev consolidated its business stakes in Pabod Breweries Limited, Intafact Beverages Limited into its majority ownership of International Breweries Plc in a merger that was concluded in December 2017.
As a part of ABInbev, International Breweries shares culture and heritage of dreaming big. A dream of building a future that everyone can celebrate, and everyone can share. A future with more cheers.