Nestlé Nigeria PLC has reported an acceleration in profitable growth and a substantial improvement in operating and financial performance for the first quarter of 2025. The company achieved a profit before tax of N51.2 billion, a significant turn-around from a loss of -N196.1 billion in Q1 2024.
Highlights (January to March 2025):- Revenue Growth: Nestlé Nigeria PLC saw a robust 61% increase in revenue, totaling N294.9 billion compared to Q1 2024.
- Operating Profit: The operating profit grew to N74.1 billion, a remarkable 254% increase from N20.9 billion in Q1 2024.
- Profit Before Tax: The profit before tax reached N51.2 billion, in contrast to the loss of - N196.1 billion in the same period in the prior year.
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Profit After Tax: The profit after tax amounted to N30.2 billion, compared to a loss of
- N142.7 billion in Q1 2024.
- Equity Position: The equity position improved by N30.0 billion.
Summary of the results: Jan-Mar 2025
Jan-Mar 2025 | Jan-Mar 2024 | |
Revenue | 294,884,799 | 183,484,159 |
Cost of Sales | (175,163,228) | (134,415,401) |
Gross Profit | 119,721,571 | 49,068,758 |
Results from operating activities | 74,146,564 | 20,921,710 |
Finance income | 474,433 | 1,760,814 |
Finance costs | (23,466,215) | (218,768,480) |
Net finance costs | (22,991,782) | (217,007,666) |
Profit /(loss) before income tax | 51,154,783 | (196,085,956) |
Income tax (expense)/credit | (20,976,748) | 53,401,549 |
Profit /(loss) for the period | 30,178,035 | (142,684,407) |
Surplus from the revaluation of property, plant and equipment net of tax | - | 150,037,365 |
Total Comprehensive Profit /(loss) for the period | 30,178,035 | 7,352,958 |
In his remarks on the results, Mr. Wassim Elhusseini, CEO/Managing Director of Nestlé Nigeria PLC, stated, "The results for Q1 2025 reflect our unwavering commitment to operational excellence and strong fundamentals, marking a successful continuation of our return to profitability initiated in Q4 2024. The robust topline growth of 61% in Q1 2025 and profit after tax of N30.1 billion demonstrate that our focused efforts are yielding desired results led by a strong operating performance."
Looking ahead, Mr. Elhusseini emphasized, "We will remain dedicated to driving innovation and renovation to meet evolving consumer needs, enhancing our margin management initiatives, and investing in community programs that deliver sustainable value to all our stakeholders."
Nestlé Nigeria's operating profit increased significantly from N20.9 billion in Jan-Mar 2024 to 74.1 billion in Jan-Mar 2025 alongside considerable improvement in operating margins. The Company's profit before tax stood at N51.2 billion compared to a loss of N196.1 billion and profit after tax of N30.2 billion versus a loss of N -142.7 billion in the same period last year.
This result highlights Nestlé's commitment to consistently delivering long-term value to its shareholders while effectively navigating the challenges of the current business environment.
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About Nestlé Nigeria:Nestlé Nigeria is one of the largest food and beverage companies in Africa. The Company's purpose is to unlock the power of food to enhance quality of life for everyone today and for generations to come. For over 62 years of its operation in Nigeria, Nestlé has delighted consumers around Nigeria by consistently delivering high quality nutritious food and beverages under its iconic brands: MAGGI, MILO, GOLDEN MORN, NESTLÉ PURELIFE, CERELAC, NESCAFÉ and NIDO.
With 3 manufacturing sites, 7 branch offices and a head office located in Lagos, Nestlé Nigeria is a force for good, helping to improve the wellbeing and livelihood of individuals and families to build thriving communities while taking action to protect the planet.
Editorial Contact:Victoria Uwadoka, Corporate Communications Manager Email: Victoria.Uwadoka@ng.nestle.com :
Telephone: +234 8052797392