International Breweries Balance Sheet

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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
Cash & Equivalents	161,488	155,244	109,038	123,492	28,832	59,429
Short-Term Investments	-	-	30,946	-	86,214	73,115
Cash & Short-Term Investments	161,488	155,244	139,985	123,492	115,046	132,544
Cash Growth	52.54%	10.90%	13.36%	7.34%	-13.20%	192.11%
Accounts Receivable	108,642	4,598	3,515	5,514	9,749	9,614
Other Receivables	-	4,892	4,794	3,789	1,936	16,022
Receivables	108,642	9,490	8,309	9,303	11,686	25,636
Inventory	95,831	97,741	89,704	48,503	26,914	22,541
Prepaid Expenses	-	463.46	1,547	178.99	202.86	-
Restricted Cash	206.27	206.27	206.27	8,880	7,193	7,374
Other Current Assets	-	51,192	98,827	195,251	19,284	433.95
Total Current Assets	366,167	314,336	338,578	385,609	180,326	188,528
Property, Plant & Equipment	392,525	383,977	316,846	271,950	268,061	254,934
Other Intangible Assets	7,355	8,026	8,712	4,955	3,251	714.24
Long-Term Deferred Tax Assets	18,816	33,404	63,736	61,984	32,613	25,665
Other Long-Term Assets	0	-	-	-	-	111.64
Total Assets	784,864	739,744	727,872	724,497	484,252	469,953
Accounts Payable	196,576	114,631	173,129	181,155	126,980	110,213
Accrued Expenses	-	55,877	43,746	19,981	17,903	26,843
Current Portion of Long-Term Debt	-	-	-	374,339	51,052	175,409
Current Portion of Leases	18,753	3,709	11,547	4,326	5,965	2,683
Current Income Taxes Payable	13,771	7,407	3,537	2,758	2,258	1,414
Current Unearned Revenue	-	13,779	23,774	7,622	3,927	3,517
Other Current Liabilities	-	175.89	495.79	419	2,757	5,601
Total Current Liabilities	229,100	195,579	256,229	590,601	210,841	325,679
Long-Term Debt	-	-	-	-	143,033	-
Long-Term Leases	34,021	42,202	20,949	15,766	10,443	6,646
Pension & Post-Retirement Benefits	2,299	2,135	1,780	2,724	2,605	2,324
Other Long-Term Liabilities	0	-	-	-	-	-
Total Liabilities	265,420	239,916	278,958	609,090	366,921	334,649
Common Stock	16,260	16,260	16,260	13,431	13,431	13,431
Additional Paid-In Capital	673,193	673,193	673,193	159,803	159,803	159,803
Retained Earnings	-171,417	-191,033	-241,946	-128,332	-58,306	-36,679
Comprehensive Income & Other	1,408	1,408	1,408	70,504	2,402	-1,251
Shareholders' Equity	519,443	499,828	448,914	115,407	117,330	135,304
Total Liabilities & Equity	784,864	739,744	727,872	724,497	484,252	469,953
Total Debt	52,774	45,911	32,497	394,431	210,492	184,738
Net Cash (Debt)	108,714	109,332	107,488	-270,938	-95,446	-52,194
Net Cash Growth	45.06%	1.72%	-	-	-	-
Net Cash Per Share	0.66	0.65	1.10	-10.09	-3.55	-1.94
Filing Date Shares Outstanding	163,464	168,292	168,292	26,862	26,862	26,862
Total Common Shares Outstanding	163,464	168,292	168,292	26,862	26,862	26,862
Working Capital	137,067	118,758	82,350	-204,993	-30,515	-137,151
Book Value Per Share	3.18	2.97	2.67	4.30	4.37	5.04
Tangible Book Value	512,088	491,802	440,202	110,452	114,079	134,590
Tangible Book Value Per Share	3.13	2.92	2.62	4.11	4.25	5.01
Land	-	4,721	4,682	4,628	4,630	4,518
Buildings	-	75,595	69,602	67,933	59,998	57,940
Machinery	-	270,172	239,952	225,460	220,930	209,513
Construction In Progress	-	23,540	29,450	29,176	23,248	8,677

Source: S&P Global Market Intelligence. Standard template. Financial Sources.