NBL rides storm of transition

Namibia Breweries Limited (NBL) has advised its shareholders that operating profit for the year ended 31 December 2025 is expected to decrease by between 10% and 15% relative to the previously reported eighteen-month financial period, according to a trading statement issued by the company.

The decline, however, is largely a function of reporting period length rather than underlying business performance. NBL reported its 2024 financial results over eighteen months, from 1 July 2023 to 31 December 2024, instead of the usual twelve months, after changing its fiscal year-end following a merger in April 2023.

NBL posted an operating profit of N$896 million for the eighteen months ended December 2024.

Headline earnings per share and basic earnings per share are also expected to decrease, though by less than 5%, when comparing the current twelve-month period to the prior eighteen-month one.

"To provide additional context on underlying performance, shareholders are advised that the prior comparative period for the year ended 31 December 2024 covered eighteen months and is therefore not directly comparable to the current twelve-month reporting period," NBL said.

NBL delivered strong operating profit growth of between 35% and 45%, reflecting continued momentum in the business following the merger.

NBL cautioned that the trading statement has not been reviewed or reported on by its external auditors and advised shareholders to exercise caution when dealing in the Group's shares until the full results are published.

The group's reviewed financial results are expected to be released on the Namibia Stock Exchange News Service (NENS) on or about 27 March 2026 and in the press on or about 30 March 2026. The full audited financial results and annual report will follow in due course.