Champion Breweries’ revenue rises 140% to N51.4b on enJOYbev acquisition

Champion Breweries Plc’s revenue rose by 140 per cent to N51.4 billion in the nine months ended September 30, 2026, from N21.4 billion recorded in the corresponding period of 2025, driven largely by the acquisition of enJOYbev B.V.

The company said the revenue growth reflected the consolidation of enJOYbev, although sales volumes at its standalone brewery business declined amid weak consumer demand and broader industry pressures.

Operating profit increased by 48 per cent to N6.3 billion from N4.3 billion, while profit after tax grew marginally to N2.18 billion from N2.05 billion.

The modest increase in net profit, despite higher revenue and operating profit, was partly due to increased finance costs arising from acquisition funding and prevailing interest rates.

The company also reported a net tax credit of about N1.3 billion, largely from deferred tax recognised on temporary differences in line with the International Accounting Standard 12.

Champion Breweries said the integration of enJOYbev had expanded its operations into new product categories and brands, reducing its reliance on a single market segment. It added that the acquisition would create opportunities to share distribution networks and enter new markets.

The Managing Director, Sampath Malolan, said the performance reflected the company’s ability to withstand weaker consumer spending and pressure on sales volumes across the industry.

He attributed the improvement in profitability to pricing discipline, portfolio management and operational efficiency.

Malolan said the integration of enJOYbev had broadened the company’s growth prospects and supported its ambition to build a diversified beverage business.

He expressed optimism about the fourth quarter, citing planned brand relaunches, the commissioning of a new canning line and increased demand during the festive season.

According to him, the new canning line would improve packaging flexibility and help the company expand its market reach.

The management said the initiatives were expected to strengthen the company’s competitiveness, support revenue growth and improve shareholder returns over the medium to long term.