Five companies migrate from loss to N2.13trn profit before tax in 2025
A total of five companies on the Nigerian Exchange Limited (NGX) have migrated from N764.35 billion loss before tax in 2024 to N2.13 trillion profit before tax in 2025, coming on the backdrop of stability in the foreign exchange market, operational efficiency, among other improving economy indicators.
The five companies are: MTN Nigeria Communications Plc, Nestle Nigeria Plc, Cadbury Nigeria Plc, Nigerian Breweries Plc and International Breweries Plc.
The Central Bank of Nigeria (CBN) foreign exchange market reforms of June 2023 had a severe immediate and predominantly negative impact on listed companies 2023 and 2024 financial year outcomes.
The devaluation of the Naira from N461 against the dollar to N900 against the dollar at the official market in 2023 resulted in massive foreign exchange losses of MTN Nigeria, among others that led to erasing shareholders value and increasing operating costs for companies with dollar dominated debts or import- dependent supply.
Macroeconomic conditions improved further in 2025 with a more stable foreign exchange market, improved foreign liquidity and a sustained decline in inflation compared to 2024.
he naira strengthened to N1,436 against the dollar by year-end (2024: N1,535/ dollar), while tight monetary policy helped reduce headline inflation to 15.2per cent (2025 average: 23.4pepr cent), partly reflecting consumer price index (CPI) rebasing. MTN Nigeria Communications that declared N1.7trillion profit before tax in 2025 from a loss before tax of N550.33 billion in 2024, while Nestle Nigeria, a leading Fast-Moving Consumer Goods (FMCG) company posted a profit before tax of N166.85billion in 2025 as against N221.59billion loss before tax reported in 2024.
In the period under review, Nigerian Breweries Plc migrated from a loss before tax of N182.92billion in 2024 to N161.06billion profit before tax in 2025.
As Cadbury Nigeria declared N17.27billion profit before tax in 2025 from a loss before tax of N28.33billion in 2024, International Breweries Plc declared N85.11billion profit before tax in 2025 as against N111.82billion loss before tax in 2024.
The recovery 2025 was backed by significant increase in revenue. The five firms posted N8.7trillion revenue in 2025, representing an increase of 44per cent from N6.02 trillion declared in 2024.
From indications, MTN Nigeria with N5.2trillion revenue in 2025, up by 54.9 per cent from N3.36trillion in 2024, contributing about 60per cent of the total N8.7 trillion revenue in 2025.
As Nigerian Breweries declared N1.47 trillion revenue in 2025, up by 35 per cent from N1.08trillion in 2024, while Nestle Nigeria posted N1.21trillion revenue in 2025, about 30 per cent increase over N958.8billion in 2024.
International Breweries announced N620.15billion revenue in 2025, representing an increase of 27 per cent from N488.96billion reported in 2024, as Cadbury Nigeria reported N169.8 billion revenue in 2025, a growth of 31.5 per cent from N129.2 billion reported in 2024.
