Nigerians have spent a staggering N599.11bn on Beer in six months from January 2022 to June 2022, according to an analysis of the industry by PrimeBusiness Africa.
Champion Brewery, makers of Champion Lager Beer outperformed industry veterans Guinness Nigeria, Nigeria Breweries and International Breweries to become the best performing company in terms of revenue growth in Q1 of 2022.
The combined 4 breweries earned an increased turnover of 31.2% when compared to the N456.44 billion they generated during the corresponding period in 2021.
The increase in turnover also saw a corresponding increase in profit by 54.1%, as it rose to N36.14 billion in H1 this year, in contrast to the N23.44 billion reported in H1 2021.
See how each of the Breweries performed in H1 2022:
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Champion Breweries
Products: Champion Lager beer
Growth: 41.6%
“While Champion Brew holds a small share of the market, the company recorded the highest revenue growth of 41.6% during the period under review, making it the best performing firm in the industry. It generated N6.86 billion, against the N4.84 billion reported in H1 2021.
“The brewer also joined Nigerian Breweries and Guinness to grow its profit after tax, reporting a 141.6% growth year-on-year, as its net profit rose to N1.07 billion in H1 2022, surpassing the N445.23 billion recorded during the same period last year.
International Breweries
Products: Budweiser, Trophy Lager, Trophy Black, Hero Lager, Eagle Stout, Eagle Lager
Growth: 35.9%
“From sales of its products, International Breweries generated N111.40 billion within six months of H1 this year, in contrast to the N81.96 billion grossed in the same period last year – a difference of 35.9%.
“However, its revenue growth couldn’t prevent International Breweries net profit from a -97.5% decline, after failing to surpass the N13.88 billion profit after tax of H1 2021, as the firm reported N336.20 million net profit in the first half of this year.
Nigerian Breweries
Products: Heineken Lager, Star Lager, Gulder Lager Beer, Legend Extra Stout, Tiger Beer, Goldberg Lager, Life Lager, Life Lager, 33 Export, Star Lite
Growth: 30.9%
“Despite growing its revenue to N274.03 billion between January to June this year, the 30.9% growth rate when compared to the N209.21 billion turnover of H1 last year, makes Nigerian Breweries the third best performing firm in the market.
“The management was also able to grow its net profit by 142.8% year-on-year, having reported that it made N19.08 billion in the first six months of 2022, surpassing the N11.22 billion profit after tax of H1 2021.
Guinness Nigeria
Products: Guinness Foreign Extra Stout, Harp Lager, Guinness Extra Smooth, Satzenbrau, Guinness Gold
Growth: 28.9%
“Guinness Nigeria was the least performing company in terms of revenue growth, with the company reporting 28.9% in turnover growth, which rose to N206.82 billion in H1 this year, from N160.41 billion in H1 2021.
“However, Guinness Nigeria recorded the highest growth in profit after tax, as it closed the first half of this year with N15.65 billion, which is 1146.7% year-on-year growth when compared to the N1.25 billion of H1 2021.