Champion Breweries Income Statement

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	29,798	20,891	11,677	11,196	8,600
Revenue Growth (YoY)	42.64%	78.91%	4.30%	30.19%	36.45%
Cost of Revenue	14,670	12,317	6,753	5,534	5,062
Gross Profit	15,128	8,573	4,924	5,661	3,538
Selling, General & Admin	10,338	6,355	4,491	3,625	1,821
Other Operating Expenses	-70.51	-68.88	-68.68	-146.2	-108.52
Operating Expenses	10,304	6,274	4,443	3,484	1,711
Operating Income	4,824	2,299	480.93	2,177	1,827
Interest Expense	-2,515	-276.9	-42.62	-59.8	-61.17
Interest & Investment Income	437.94	15.59	11.29	94.33	75.87
Currency Exchange Gain (Loss)	-94.87	-707.72	-55.87	-	-
EBT Excluding Unusual Items	2,652	1,330	393.73	2,212	1,842
Gain (Loss) on Sale of Assets	-	-0.73	51.62	37.33	-
Asset Writedown	-	-55.35	-	-	-
Pretax Income	2,652	1,274	445.34	2,249	1,842
Income Tax Expense	861.92	457.06	74.78	841.25	768.78
Net Income	1,790	817	370.56	1,408	1,073
Net Income to Common	1,790	817	370.56	1,408	1,073
Net Income Growth	119.08%	120.47%	-73.67%	31.14%	575.97%
Shares Outstanding (Basic)	8,948	8,948	8,948	8,948	8,948
Shares Outstanding (Diluted)	8,948	8,948	8,948	8,948	8,948
EPS (Basic)	0.20	0.09	0.04	0.16	0.12
EPS (Diluted)	0.20	0.09	0.04	0.16	0.12
EPS Growth	119.08%	120.48%	-73.68%	31.14%	575.98%
Free Cash Flow	1,143	4,351	-770.35	-722.72	1,926
Free Cash Flow Per Share	0.13	0.49	-0.09	-0.08	0.21
Dividend Per Share	0.070	0.060	-	-	-
Dividend Growth	16.67%	-	-	-	-
Gross Margin	50.77%	41.04%	42.17%	50.57%	41.14%
Operating Margin	16.19%	11.01%	4.12%	19.45%	21.25%
Profit Margin	6.01%	3.91%	3.17%	12.57%	12.48%
Free Cash Flow Margin	3.84%	20.83%	-6.60%	-6.46%	22.39%
EBITDA	7,224	4,358	2,404	3,656	2,989
EBITDA Margin	24.24%	20.86%	20.59%	32.66%	34.76%
D&A For EBITDA	2,401	2,059	1,923	1,479	1,161
EBIT	4,824	2,299	480.93	2,177	1,827
EBIT Margin	16.19%	11.01%	4.12%	19.45%	21.25%
Effective Tax Rate	32.50%	35.87%	16.79%	37.41%	41.73%
Advertising Expenses	1,459	469.67	447.51	214.6	38.51

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.