Champion Breweries Income Statement

Financials in millions NGN. Fiscal year is January - December.

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	27,219	19,804	11,677	11,196	8,600	6,302
Revenue Growth (YoY)	57.03%	69.60%	4.30%	30.19%	36.45%	1.23%
Cost of Revenue	14,236	11,231	6,753	5,534	5,062	4,362
Gross Profit	12,983	8,573	4,924	5,661	3,538	1,940
Selling, General & Admin	7,598	6,355	4,491	3,625	1,821	1,578
Other Operating Expenses	-49.56	-68.88	-68.68	-146.2	-108.52	-101.19
Operating Expenses	7,536	6,274	4,443	3,484	1,711	1,479
Operating Income	5,447	2,299	480.93	2,177	1,827	461.36
Interest Expense	-1,634	-276.9	-42.62	-59.8	-61.17	-25.31
Interest & Investment Income	380.84	15.59	11.29	94.33	75.87	-
Currency Exchange Gain (Loss)	97.4	-707.72	-55.87	-	-	-
EBT Excluding Unusual Items	4,291	1,330	393.73	2,212	1,842	436.05
Gain (Loss) on Sale of Assets	-0.73	-0.73	51.62	37.33	-	-
Asset Writedown	-55.35	-55.35	-	-	-	-
Pretax Income	4,235	1,274	445.34	2,249	1,842	436.05
Income Tax Expense	1,393	457.06	74.78	841.25	768.78	277.25
Net Income	2,841	817	370.56	1,408	1,073	158.79
Net Income to Common	2,841	817	370.56	1,408	1,073	158.79
Net Income Growth	504.84%	120.47%	-73.67%	31.14%	575.97%	-5.76%
Shares Outstanding (Basic)	8,942	8,948	8,948	8,948	8,948	8,948
Shares Outstanding (Diluted)	8,942	8,948	8,948	8,948	8,948	8,948
Shares Change (YoY)	-0.28%	-	-	-	-	-
EPS (Basic)	0.32	0.09	0.04	0.16	0.12	0.02
EPS (Diluted)	0.32	0.09	0.04	0.16	0.12	0.02
EPS Growth	506.55%	120.48%	-73.68%	31.14%	575.98%	-5.76%
Free Cash Flow	4,282	4,351	-770.35	-722.72	1,926	355.11
Free Cash Flow Per Share	0.48	0.49	-0.09	-0.08	0.21	0.04
Dividend Per Share	0.060	0.060	-	-	-	-
Gross Margin	47.70%	43.29%	42.17%	50.57%	41.14%	30.79%
Operating Margin	20.01%	11.61%	4.12%	19.45%	21.25%	7.32%
Profit Margin	10.44%	4.13%	3.17%	12.57%	12.48%	2.52%
Free Cash Flow Margin	15.73%	21.97%	-6.60%	-6.46%	22.39%	5.63%
EBITDA	7,685	4,358	2,404	3,656	2,989	1,490
EBITDA Margin	28.24%	22.01%	20.59%	32.66%	34.76%	23.65%
D&A For EBITDA	2,239	2,059	1,923	1,479	1,161	1,029
EBIT	5,447	2,299	480.93	2,177	1,827	461.36
EBIT Margin	20.01%	11.61%	4.12%	19.45%	21.25%	7.32%
Effective Tax Rate	32.91%	35.87%	16.79%	37.41%	41.73%	63.58%
Advertising Expenses	-	469.67	447.51	214.6	38.51	106.93

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.