Champion Breweries Plc has launched its unaudited Q3 2026 monetary outcomes, reporting a pre-tax profit of N917.52 million for the 9 months ended September 2026, marking a 70.77% year-on-year (YoY) decline from N3.14 billion in the identical interval of 2025.
This is in accordance to the brewer’s interim results filed with the Nigerian Exchange (NGX), indicating a 139.85% rise in income and a 47.50% enhance in working profit to N6.33 billion.
Net finance costs jumped 369.52% to N5.41 billion, absorbing about 85% of working profit.
The firm recorded a N1.26 billion tax credit score, in opposition to a N1.09 billion tax expense a yr earlier. This lifted profit after tax (PAT) by 6.36% to N2.18 billion regardless of pre-tax profit decline.
Without the credit score, PAT would have been about N917.5 million.
This is the primary yr Champion is presenting consolidated interim accounts, following its acquisition of 80% of EnjoyBev B.V. on February 26, 2026.
Key Highlights (9M 2026 vs 9M 2025)
- Revenue: N51.41 billion (up 139.85% YoY from N21.44 billion)
- Gross profit: N17.17 billion (up 58.97% from N10.80 billion)
- Operating profit: N6.33 billion (up 47.50% from N4.29 billion)
- Profit earlier than tax: N917.52 million (down 70.77% from N3.14 billion)
- Profit after tax: N2.18 billion (up 6.36% from N2.05 billion)
- Earnings per share (EPS): 9 kobo (down 60.87% from 23 kobo)
- Total property: N128.03 billion (up 55.49% from N82.34 billion as at December 2025)
- Cash and money equivalents: N2.88 billion (down 93.92% from N47.35 billion as at December 2025)
Three-month efficiency:
The Q3 2026 outcome was higher, with income rising 185% YoY to N15.68 billion.
Pre-tax profit was N84.51 million, a exceptional enchancment from a N318.30 million loss in Q3 2025.
The PAT of N974.04 million, in opposition to a lack of N242.40 million, was pushed by an N889.53 million tax credit score.
Driving the numbers
Cost of gross sales rose 222.03% to N34.24 billion, together with N24.86 billion of products purchased for resale. This pushed nine-month gross margin down to 33.40% from 50.40%.
Selling and distribution bills rose 68.98% to N6.91 billion, and administrative bills rose 73.50% to N4.27 billion.
Finance costs surged to N7.25 billion from N1.38 billion.
A N1.01 billion internet foreign-exchange achieve, in opposition to a N140.54 million loss, and N836.30 million in finance earnings partly offset the loss.
Balance sheet efficiency:
Cash fell to N2.88 billion after N56.85 billion was spent on the EnjoyBev acquisition in February 2026, a improvement anticipated to enhance earnings in close to future.
- Borrowings declined 35.33% to N38.17 billion from N59.03 billion, with N22.51 billion repaid and N5.14 billion paid in curiosity.
- Net money from operations improved to N8.54 billion from N5.71 billion.
- Nairametrics had reported H1, 2026 pre-tax profit of N2.28 billion, a 34.13% decline pushed by finance costs, which rose to N4.91 billion from N543.7 million.
The PAT settled at N2.65 billion, additionally above PBT. However, Q3, 2026 outcomes was extra worthwhile.
Market response:
Champion closed at N8.00 on Tuesday, November 3, down 1.2% from N8.10 the day prior to this.
- The inventory started the yr at N14.00 and rose to N20.95 on January 20, 2026 earlier than dropping steadily, reaching the bottom degree on November 3, 2026.
- The inventory is down 42.9% yr to date, and ranks 131st on the NGX.
- It has misplaced 20% of its worth since October 6 and was at N11.25 on July 23.
Management expects This autumn to be seasonally stronger, which can present whether or not the skinny Q3 working margin is momentary or structural and sustainable.
