First quarter figures from four major Nigerian breweries show that Nigerians consumed N599.11 billion worth of beer in six months from January to June 2022.

As Nigerian Breweries and Guinness Nigeria lost market share to its competitors, Champion Brew emerged as the brewery industry’s top-performing firm at the end of the First Half (H1) 2022.

According to an industry review of revenue growth from January to June 2022, Nigerian Breweries, Guinness Nigeria, International Breweries, and Champion Brew collectively made N599.11 billion, according to Prime Business Africa.

Compared to the N456.44 billion they made during the same period in 2021, the turnover grossed by the four biggest breweries in the nation increased by 31.2%.

In contrast to the N23.44 billion reported in H1 2021, the net profit of Nigerian Breweries, Guinness Nigeria, International Breweries, and Champion Brew jumped by 54.1% to N36.14 billion in H1 of this year.
The performance evaluation is arranged from the lowest to the most performing.

Guinness Nigeria (growth of 28.9%)
In terms of sales growth, Guinness Nigeria performed the worst. The company’s turnover increased by 28.9%, from N160.41 billion in H1 2021 to N206.82 billion this year.

But when compared to the N1.25 billion of H1 2021, Guinness Nigeria’s earnings after tax grew at the fastest rate, closing the first half of this year with N15.65 billion, or 1146.7% year-over-year growth.

Nigerian Breweries (30.9% growth) “Despite increasing its revenue to N274.03 billion from January to June of this year, Nigerian Breweries is the third-best performing company in the market due to the 30.9% growth rate when compared to the N209.21 billion turnover of H1 previous year.

After reporting that it made N19.08 billion in the first half of 2022, the management was also able to increase its net profit by 142.8% year over year, surpassing the N11.22 billion profit after tax of H1 2021.

Global Breweries (growth of 35.9%)

International Breweries made N111.40 billion from product sales in the first half of this year, compared to N81.96 billion during the same period last year, a 35.9% difference.

International Breweries posted a net profit of N336.20 million in the first half of this year, falling 97.5% despite its revenue growth. This is because the company was unable to achieve the N13.88 billion profit after tax of H1 2021.

Champion Brew (growth of 41.6%) “Despite having a small market share, Champion Brew is the best-performing company in the industry, recording the highest revenue growth of 41.6% during the period under review.” In contrast to the N4.84 billion recorded in H1 2021, it produced N6.86 billion.

Along with Nigerian Breweries and Guinness, the brewer increased its earnings after taxes, posting a 141.6% year-over-year growth. In H1 2022, its net profit increased to N1.07 billion, surpassing the N445.23 billion.