According to the first quarter statistics of the four biggest brewers in the country, Nigerians will consume beer worth N599.11 billion over the course of six months beginning in January and ending in June 2022.
Nigerian Breweries and Guinness Nigeria lost market share to competitors, making Champion Brew the best-performing brewing firm at the end of the First Half (H1) 2022
In the industry analysis of their revenue growth from January to June 2022, Nigerian Breweries, Guinness Nigeria, International Breweries, and Champion Brew produced a total N599.11 billion, according to Prime Business Africa.
When compared to the N456.44 billion they made during the same period in 2021, the four top brewers in the nation’s revenue increased by 31.2%.
In contrast to the N23.44 billion reported in H1 2021, the net profit reported by Nigerian Breweries, Guinness Nigeria, International Breweries, and Champion Brew grew by 54.1% to N36.14 billion in the first half of this year.
The performance evaluation is ranked from worst to greatest.
Guinness Nigeria (growth of 28.9%)
“Guinness Nigeria was the least performing firm in terms of sales growth, with a 28.9% increase in turnover, from N160.41 billion in H1 2021 to N206.82 billion in H1 this year.
Guinness Nigeria, on the other hand, finished the first half of this year with N15.65 billion, an increase of 1146.7% year over year from the N1.25 billion of H1 2021. This company experienced the biggest gain in profit after tax.
Nigerian Breweries (growth of 30.9%)
“Despite increasing its revenue to N274.03 billion between January and June this year, Nigerian Breweries is now the third-best performing company in the market thanks to a growth rate of 30.9% when compared to the N209.21 billion turnover of H1 last year.
The management reported that it earned N19.08 billion in the first half of 2022, exceeding the N11.22 billion profit after tax from H1 2021. This is a 142.8% increase in net profit year over year.
Breweries from other countries (35.9% rise)
“International Breweries collected N111.40 billion from the sales of its products in the first half of this year, compared to N81.96 billion in revenue during the same period last year, a difference of 35.9%.
Despite this, International Breweries’ net profit fell by -97.5% after failing to surpass the N13.88 billion profit after tax of H1 2021. The company earned a net profit of N336.20 million in the first half of this year.
Champion Brew (growth of 41.6%)
“Despite having a modest market share, Champion Brew experienced the largest revenue growth—41.6%—during the studied period, making it the best-performing company in the sector. Compared to the N4.84 billion reported in H1 2021, it generated N6.86 billion.
The brewer also collaborated with Guinness and Nigerian Breweries to increase its net profit, which reached N1.07 billion in H1 2022, outpacing the N445.23 billion achieved in the same period the previous year. This represents a jump of 141.6% year over year.