Uyo, Nigeria – May 22, 2025 – Champion Breweries Plc has marked a transformative milestone in its 49-year history by announcing its first-ever dividend payment following a year of outstanding financial performance. The announcement was made during the company’s 49th Annual General Meeting (AGM), held virtually with shareholders joining from Uyo and Lagos.
The Board Chairman, Pastor Imo-Abasi Jacob, described 2024 as a watershed year for the company and confirmed the board’s approval of a ₦15 billion capital raise via green bond. He further announced plans to seek an additional capital raise through a public offer to support facility upgrades, asset expansion, and increased operational capacity.
“To further strengthen our growth agenda,” Pastor Jacob stated that, “Champion Breweries Plc will launch a Green Bond Programme to finance renewable energy and modernization projects, alongside a Commercial Paper Programme to boost short-term liquidity. While others struggled, Champion Breweries Plc stood tall, We are now strategically positioned for even greater capital market engagement.”
The Managing Director/CEO, Dr. Inalegwu Adoga, attributed the historic achievement to disciplined execution, a resilient workforce, and unwavering stakeholder confidence. Speaking on the company’s 2025 theme, “Elevate and Accelerate: Growing Champion Profitably, Productively, and Sustainably,” Dr. Adoga highlighted a breakthrough year.
Revenue surged by 64.44%, rising from ₦12.7 billion in 2023 to ₦20.9 billion in 2024. Profit before tax increased by 186.08%, while profit after tax grew by 120.47%. Gross profit climbed by 289%, earnings per share advanced from ₦5.00 to ₦9.10, and retained earnings improved by 27%. Total assets also grew modestly by 3.85%.
Dr. Adoga emphasized the dividend payment as a defining moment, underscoring the company’s turnaround and commitment to delivering long-term shareholder value. He credited the company’s strategic clarity and operational discipline for laying the foundation for sustained growth. He also reaffirmed Champion Breweries Plc’s commitment to local sourcing, affordability, and maintaining a debt-free balance sheet amid ongoing economic challenges.
Entering 2025 with strong momentum, Champion Breweries reported an exceptional first quarter. Profit before tax rose by 318% year-on-year, while Q1 revenue grew by 94% to ₦8.48 billion, with expenses tightly controlled.
Dr. Adoga announced ambitious targets for the year, including plans to double revenue and quadruple profit after tax by year-end, supported by a clear growth roadmap and the near completion of its green energy transition.
As part of its commitment to “Brewing a Sustainable Future,” Champion Breweries Plc is finalizing the deployment of a solar and green energy system designed to eliminate diesel use and significantly boost energy efficiency.
This milestone reflects one of the six strategic focus areas within the company’s sustainability agenda and underscores its strong values of environmental responsibility, community development, and long-term impact. Through continued investments in education, healthcare, and clean energy, Champion Breweries remains dedicated to delivering shared value for its stakeholders and host communities.
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