Champion Breweries Nine-Month Earnings up 140% to N51.4bn

By Aduragbemi Omiyale

One of the leading brewer and beverage companies listed on the Nigerian Exchange (NGX) Limited, Champion Breweries Plc, improved its earnings by 140 per cent to N51.4 billion in the first nine months of 2026 from N21.4 billion in the corresponding period of last year.

Analysis of the company’s financial statements for the nine months ended September 30, 2026, showed that revenue growth was driven by the consolidation of enJOYbev B.V. The standalone brewery business recorded lower sales volumes, consistent with industry trends.

Operating profit grew 48 per cent to N6.3 billion from N4.3 billion in 2025, while operating margin moderated as the organisation absorbed integration costs and invested in route-to-market expansion, brand building and distribution.

Business Post reports that disciplined pricing and product mix optimisation helped protect Champion Breweries’ profitability, as the net profit soared to N2.18 billion from N2.05 billion.

In the first nine months of this year, the brewer got a net tax credit of approximately N1.3 billion, mainly from deferred tax recognised on temporary differences under IAS 12. This credit partly offset higher finance costs from acquisition funding and prevailing interest rates.

“Our results for the first nine months show the resilience of Champion Breweries at a time of softer consumer spending and volume pressure across the industry. Disciplined pricing, active portfolio management and a sustained focus on operational excellence allowed us to deliver solid profitability while advancing the strategic initiatives that will drive our future growth.

“The successful integration of enJOYbev B.V. has broadened our growth platform and moves us closer to our ambition of building a diversified beverage group with multiple growth engines. We remain focused on operational efficiency, expanding our route to market and creating sustainable value for shareholders.”

“In the fourth quarter, we expect key brand relaunches, the commissioning of our new canning line and the festive trading season to sharpen our competitiveness, extend our consumer reach and lift revenue momentum. These initiatives will give us greater packaging flexibility, deepen our market penetration and position Champion for sustainable growth over the long term,” the chief executive of Champion Breweries, Mr Sampath Malolan, commented on the results.