Uac Of Nigeria Plc · NSENG:UACN
Uac Of Nigeria — FY2025 Earnings Presentation
32 slides from Uac Of Nigeria's earnings presentation, Apr 8, 2026
Slide 1: UAC of Nigeria PLC FY 2025 Results
UAC of Nigeria PLC FY 2025 Results 8 April 2026 Fola Aiyesimoju – Group Managing Director Funke Ijaiya-Oladipo – Group Finance Director
Slide 2: Disclaimer
Disclaimer 2 This presentation contains forward-looking statements which reflect management's expectations regarding UAC of Nigeria PLC, its subsidiaries and associate businesses (“UAC”, the “Company” or “Group”), future growth, results of operations, performance, business prospects, operating marke
Slide 3: Contents
Contents 3 Introduction 4 Operating context 6 FY 2025 highlights 10 FY 2025 financial performance 13 Outlook 20 Appendix 1: Segment performance highlights 24 Appendix 2: Additional financial information 28
Slide 4: Introduction
Introduction
Slide 5: Introduction
Introduction 5 ▪ UAC of Nigeria PLC (“UAC”) concluded the acquisition of C.H.I. Limited (“CHI”) in October 2025, with the acquisition meaningfully increasing UAC’s scale and bolstering UAC’s house of scalable quality brands. ― A detailed presentation on the CHI acquisition was presented on November
Slide 6: Operating Context
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Slide 7: Macroeconomic conditions improved in 2025
Macroeconomic conditions improved in 2025… 7 Real GDP Growth Exchange Rate ₦:$ 4.5% 4.2% 4.1% CBN rates Parallel 4.0% 4.0% 3.8% 3.5% 3.5% 2,000 3.5% 3.2% 3.1% 3.0% 1,800 3.0% 2.5% 2.5% 1,600 2.5% 2.3% 1,400 1,200 2.0% 1,000 1.5% 800 600 1.0% 400 0.5% 200 0.0% - Nov-22 Nov-23 Nov-24 Nov-25 Jan-22 Jan
Slide 8: Raw material prices moderating
… with raw material prices moderating 8 Animal Feed Maize Soya Bean Resin Paints Titanium Dioxide 262 Food 250 N/Kg 201 193 185 150 148 138 140 110 118 100 100 100 100 89 2022 2023 2024 2025 2022 2023 2024 2025 2022 2023 2024 2025 2022 2023 2024 2025 Flour Vegetable Oil Fat-filled Milk Sugar Premium
Slide 9: Sharp decline in agricultural commodity prices negatively impacted performance
Sharp decline in agricultural commodity prices negatively impacted performance 9 Our Feeds businesses entered 2025 holding maize and soya procured at Q4 2024 prices, materially above market value. A ₦4.1 billion inventory write-down to net realisable value was recognised in this segment in Q4 2025.
Slide 10: FY 2025 Highlights
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Slide 11: The acquisition of CHI was a meaningful initiative executed in 2025
The acquisition of CHI was a meaningful initiative executed in 2025 11 #1 #2 #2 ₦494bn Drinking yoghurt leader Juices, Nectars, Still drinks Sausage roll leader 2025 revenue leader ₦34bn1 50+ 45 yrs Largest Sub-Saharan African aseptic carton packaging 2025 operating profit SKUs manufacturing site He
Slide 12: We continued to invest in talent, technology and operations
We continued to invest in talent, technology and operations 12 ▪ Filled key executive roles across the Group. ▪ Continued investment in talent through UAC Academy, launched in 2024, and advanced leadership programs Talent in partnership with NUTM1 and Oxford university. ▪ Implementation of performan
Slide 13: FY 2025 Financial Performance
FY 2025 Financial Performance
Slide 14: Performance continued to be driven by our scalable quality brands
Performance continued to be driven by our scalable quality brands 14 Dulux, Hempel, Capri-Sun and Debonairs Pizza are produced under license from the brand owners
Slide 15: FY 2025 financial highlights
FY 2025 financial highlights 15 Operating Profit Before Free Cash Return on Revenue EPS Profit Tax Flow Invested Capital1 FY FY FY FY FY FY ₦340bn ₦32.6bn2 ₦27.3bn2 362 kobo ₦14.4bn 6.8% +73% +73% +68% 497 kobo ₦2.1bn 33% vs FY 2024 vs FY 2024 vs FY 2024 FY 2024 FY 2024 FY 2024 (1) Invested capital
Slide 16: Revenue contribution per segment
Revenue contribution per segment 16 Revenue Bridge (in ₦’mn) Increase in revenue due to 3 months contribution from CHI and topline growth from UFL. 143,668 8,490 108 340,473 (8,692) 196,901 2024 Revenue Packaged Food Paints QSR and Others Animal Feeds 2025 Revenue & Beverages
Slide 17: FY 2025 Income Statement – reported vs. underlying
FY 2025 Income Statement – reported vs. underlying 17 FY 2025 FY 2025 In Naira millions Reported Underlying1 FY 2024 Δ% vs underlying Revenue 340,473 340,473 196,901 73% COGS (262,131) (262,131) (150,594) 74% Gross Profit 78,342 78,342 46,306 +69% Gross Profit Margin 23% 23% 24% (51 bps) Operating E
Slide 18: Balance sheet and liquidity
Balance sheet and liquidity 18 Net Assets Net Debt Capex Cash Cycle Long-term Debt to EBITDA1 ₦69.8bn ₦293.9bn ₦7.3bn 111 days 3.2x ₦66.4bn ₦887.4mn ₦5.2bn 106 days 0.4x Dec 2024 Dec 2024 Dec 2024 Dec 2024 Dec 2024 1. Ratios were adjusted for one off costs and reflects full year’s reported EBITDA of
Slide 19: Net debt position
Net debt position 19 Net (Debt)/Cash Position as at 31 December 2025 (in ₦ mn) Cash & Cash Net Cash/(Debt) Equivalents Short-Term Debt Long-Term Debt Total Debt (excl. Intra-Group) HoldCo 3,630 (48,617) (59,029) (107,646) (104,016) Edibles and Feed 1,114 (3,614) (1,109) (4,722) (3,608) Paints 11,736
Slide 20: Outlook
Outlook
Slide 21: Value creation plan and outlook
Value creation plan and outlook 21 ▪ C.H.I. Integration: Align C.H.I. with the Group’s operating model across all key dimensions, including 1 governance, financial controls, technology, and people, to drive operational efficiency, strengthen oversight, and unlock synergies. ▪ Margin expansion: Unloc
Slide 22: Corporate action: N2.9 billion dividend to UAC shareholders
Corporate action: N2.9 billion dividend to UAC shareholders 22 ▪ Total dividend of ₦1 per ordinary share (₦2.9 billion) FY 2025 ▪ Qualification date: June 11, 2026 Dividend ▪ Register of shareholders will be closed from June 12, 2026, to June 18, 2026 (both dates inclusive) (N2.9 billion) ▪ Annual G
Slide 23: Questions & Answers
Questions & Answers For further information please contact UACN Investor Relations Email: Investorrelations@uacnplc.com Phone: +234 906 269 2908
Slide 24: Appendix 1: Segment performance highlights
Appendix 1 Segment performance highlights
Slide 25: Our revenue is diversified across our businesses
Our revenue is diversified across our businesses, with meaningful contributions from core segments 25 Packaged Food & Beverages Paints Edibles and Feed FY 2025 Share of Revenue FY 2025 Share of Revenue FY 2025 Share of Revenue 27% 59% 13% #1 in baked snacks category #1 in premium decorative #1 in fi
Slide 26: Segment performance highlights
Segment performance highlights 26 Packaged Food & ▪ 2025 revenue of ₦202bn. ₦16.5bn EBIT, 217% higher vs ₦5.2bn in 2024. 77bps EBIT margin contraction. Beverages ▪ Profitability was driven by 3 months contribution from C.H.I. Limited and higher revenue from UFL. (59% of Revenue) ▪ Focus on deliverin
Slide 27: Segment performance snapshot – FY 2025
Segment performance snapshot – FY 2025 27 Revenue Profit Before Tax ₦ mn FY 2025 FY 2024 Δ% ₦ mn FY 2025 FY 2024 % change Group 340,473 196,901 73% Group 16,425 25,547 (36%) Edibles and Feed 91,605 102,818 (11%) Edibles and Feed (8,075) 4,832 n/m Paints 44,855 36,362 24% Paints 9,138 6,064 51% Packa
Slide 28: Appendix 2: Additional financial information
Appendix 2 Additional financial information
Slide 29: FY 2025 financial performance - reported
FY 2025 financial performance - reported 29 In Naira Millions H1 2025 H1 2024 Δ% H2 2025 H2 2024 Δ% FY 2025 FY 2024 Δ% Revenue 110,406 83,252 33% 230,068 113,648 102% 340,473 196,901 73% COGS (82,150) (64,541) 27% (179,981) (86,054) 109% (262,131) (150,594) 74% Gross Profit 28,256 18,712 51% 50,086
Slide 30: Proforma income statement: LTM ended December 2025
Proforma income statement: LTM ended 31 December 2025 30 • This pro-forma indicates the impact of UAC’s acquisition of CHI as if the transaction occurred at the start of the reporting period (P&L) and as at the reporting date (balance sheet). It is based on the trailing 12-months (Jan-2025 to Dec-20
Slide 31: Financial Position – December 2025
Financial Position – 31 December 2025 31 Summary Balance Sheet Working Capital N mn Dec-25 Dec-24 Δ% N mn Dec-25 Dec-24 % Non-Current Assets 305,848 52,950 478% Inventory 214,533 54,965 290% Current Assets 291,139 104,434 179% Trade Receivables 8,314 974 754% Other Assets 71 342 (79%) Trade Payable
Slide 32: Cash Flow
Cash Flow 32 PBT to Free Cash Flow ₦ mn, unless otherwise stated FY 2025 FY 2024 Profit Before Tax from continuing operations 16,425 25,547 Non-Cash charges 15,716 (752) Changes in working capital (5,346) (14,983) of which receivables (16,816) 2,489 of which inventory (159,568) (28,201) of which pay