Tag Archives: AB InBev Nigeria

International Breweries seeks Rights Issue to pare down mountain debt

Budweiser beer

International Breweries Plc (IB PLC) has notified the Nigerian Stock Exchange (NSE) of its intention to seek a “Rights Issue” following a meeting of the company’s Board of Directors on 18th September 2019.

In a statement sent to the NSE on Wednesday, the company said that the “Board of Directors of International Breweries Plc at its Board meeting held on 18 September, 2019 considered and approved a proposal for a Rights Issue as a form of Capital Raising for the Company.”

A rights issue is an issue of shares offered at a special discounted price by a company to its existing shareholders in proportion to their holding of old shares.

Tolulope Adedeji appointed to International Breweries Board of Directors

tolulope_adedeji_mkt_dir_ibplc

The Board of Directors of International Breweries Plc has appointed Tolulope Adedeji to its Board effective 18 September 2019.

In a statement released by the brewing company, it said that Ms Adedeji has extensive experience in building brands and businesses from scratch to market leadership.

She is currently the Marketing Director of International Breweries Plc where she leads the marketing teams in Nigeria and AB Inbev brands in Ghana. Some of the iconic brands under her leadership include Budweiser, Trophy, Hero, Club beer and Beta Malt.

Int’l Breweries losses continue to mount despite sales growth

International Breweries Plc on Wednesday reported a net loss of N6.8bn for the first half of the year ending on 30th June 2019, further widening its losses by 141%. In the same period in 2018, the company incurred a net loss of N2.8bn.

The loss came despite a 29% increase in sales to N69bn. The company attributed the loss to higher cost of sales by 41% to N45.4bn, a net impairment charge of 179% and a surge in administrative expenses by 66.54% to N13bn.

Int’l Breweries’ losses widen in Qtr1 amid capacity expansion

International Breweries Plc, on Wednesday, reported a net loss of N3.98bn for the first quarter of 2019, further widening its losses from the previous year. The brewer posted a net loss of N3.8bn in full-year 2018.

The loss came despite strong sales growth of 35.1% in the quarter to N35bn. The firm attributed the loss to a 43% increase in cost of sales to N22.6bn, marketing and promotional expenses which surged 64% to N7.7bn, and net finance cost which jumped 41.1% to N5bn from N3.6bn.

International Breweries records full Year loss of N3.8bn in 2018

International Breweries Plc, the Nigerian unit of Belgian brewer Anheuser-Busch InBev on Monday announced a loss of N3.8bn for the 12 months through December 2018. This is despite recording strong revenue growth of 230% to N120.6bn. The growth was fueled by the launch of its new brewery in Sagamu, Ogun State as well as a strong marketing push by the company.

The company said that higher cost of sales, a rise in finance cost, in addition to foreign exchange loss were partly to blame for the full year loss. Cost of sales grew by 221% N73.2bn, while Interest expense on borrowings rose by 303% to N15.9bn, from N3.9bn in the previous year, and foreign exchange loss climbed by 29% to N3.1bn.

International Breweries felicitates with Ogun State at inaugural

International Breweries Plc (“IB Plc”), the Nigerian unit of Anheuser-Busch InBev (AB InBev) has commended Ogun State Government for its friendly policies that has fostered the growth of business.

The commendation came during the inauguration ceremony of the new Ogun State Governor, Prince Dapo Abiodun, at the Moshood Abiola Stadium, Abeokuta. The company’s Legal and Corporate Affairs Director, Otunba Michael Daramola,  said that through favourable government policies, the company was able to build a state-of-the-art brewery, which began operation in 2018. He expressed hope that the new administration will sustain and improve on the favorable policies of the previous government.

AB InBev expects capacity expansion in Sagamu brewery to reach $400m

Anheuser-Busch InBev (AB InBev) has said it expects its investment in the newly built Sagamu Brewery to hit $400 million.

The company’s Chief Executive Officer, Carlos Brito, disclosed this on Wednesday while responding to reporters’ questions at a media briefing in Johannesburg, South Africa.

Int’l Breweries names Olutoyin Modupe Odulate to its Board as an Independent Non-Executive Director

International Breweries Plc has announced the appointment of Olutoyin Modupe Odulate as an Independent Non-Executive Director of the company.

According to a statement released on Tuesday by the brewing company, Odulate is a seasoned Consumer Goods and FMCG senior management professional with over 16 years of multi-national corporate experience in retail management & distribution, supply chain optimization, strategic development, operational planning, risk management, business development, product development, branding and marketing across the telecoms, management consulting & Consumer Goods /FMCG industries.

International Breweries celebrates distributors, trade partners at Gala night

International Breweries Plc, the Nigerian unit of Anheuser-Busch InBev recently hosted its distribution partners across the country to a gala night at the Sheraton Hotel, Lagos. The event was an opportunity for the company’s distributors, trade partners and other key stakeholders within the distribution value chain to exchange ideas, as well as deepen business relationships. It also provided the company an opportunity to fete and commend the performance of the distributor partners, with those who had excelled in their performance in the recent financial year, winning delectable prizes.

Kensington Distillers & Vintners buys 1960 Rootz

London-based Kensington Distillers and Vintners Limited (KDV) has acquired the 1960 Rootz brand in Nigeria from AB InBev. The purchase includes the state-of-the-art manufacturing plant used to produce 1960 Rootz.

Kensington Distillers & Vintners said a new business name has been formed – Monument Distillers and the production facility will soon be moved from AB InBev’s Port Harcourt production facility to Lagos where Kensington Distillers’s offices are based.