Nestlé Nigeria Plc has reported a remarkable rebound in its first-quarter earnings, posting ₦294.9 billion in revenue for the three months ended March 31, 2025 — a 61% increase from ₦183.5 billion recorded in the same period last year.
The food and beverage giant, a subsidiary of Switzerland’s Nestlé S.A., also returned to profitability with a net profit of ₦30.2 billion, a sharp turnaround from the ₦142.7 billion loss it recorded in Q1 2024.
The dramatic shift in performance reflects a mix of pricing adjustments, increased efficiency, and cost containment. Operating profit surged over threefold to ₦74.1 billion from ₦20.9 billion in Q1 2024. This was achieved despite continued inflationary pressures on input costs and distribution expenses. Cost of sales rose by 30%, far below the pace of revenue growth.
Nestlé Nigeria also benefited from reduced exposure to foreign exchange volatility. In Q1 2024, the company reported massive finance costs of ₦218.8 billion, mostly driven by foreign exchange losses on intercompany loans. This has now moderated significantly, with finance costs falling to ₦23.5 billion in the latest quarter.
The company’s flagship products — including Milo, Nescafé, Maggi, and Golden Morn — continue to dominate their categories in Nigeria’s inflation-weary consumer market. Nestlé’s strong rural distribution network and its Technical Training Centres in Agbara, Abaji, and Sagamu, which have trained 294 young Nigerians since 2011, also remain key pillars of its community engagement and talent development strategy.
With a profit per share of ₦38.07, compared to a loss per share of ₦180.01 a year earlier, Nestlé Nigeria’s Q1 2025 results offer a reassuring signal to investors that the worst may be over after a turbulent 2024 marked by currency devaluation and macroeconomic instability.
