CHAMWE KAIRA
Namibia Breweries Limited will pay an ordinary dividend of 157 cents per share.
The company said this decision underscores NBL’s financial health, commitment to delivering shareholder value, and confidence in the group’s strategic direction for sustained growth, the company said in the annual financial results for the year ended December 2024.
The company explained that following the transaction between NBL, Distell Namibia and Heineken on 17 April 2023, NBL became a subsidiary of Heineken Beverages Holdings.
As paAs part of this transition, NBL shifted its financial year-end to December to conform to the Heineken reporting cycle.
The company reported that the first six months of the reporting period were challenging, with a focus on integrating the NBL and Distell businesses.
The market share of Namibian beer volumes was lost following a price increase in July 2023. Interventions stabilised the decline, and over the next 12 months, improved pricing and strategic adjustments drove a robust recovery.
TThe broader NBL portfolio leveraged a wider reach, improved price management, and coordinated planning with Heineken Beverages South Africa.
“This allowed NBL to capitalise on shifting consumer preferences and category switching. Despite intense competition, market share was regained in Namibia, with a reset pricing strategy that avoided price increases, recognising growing price sensitivity. This boosted the market share after declines in 2022 and 2023, positioning NBL for sustainable growth,” the company said.
NBL’s net revenue increased by 101.4% to N$6.8 billion, driven primarily by the successful integration of the Distell portfolio, volume growth and strategic pricing decisions.
Operating expenses increased by 99.8% to N$5.9 billion, mainly due to costs linked to the new portfolio, Distell Namibia integration, and ongoing integration efforts with Heineken.
OThe company reported a 112.6% increase in operating profit to N$896 million, which it attributed to the growth in volume in Namibia and South Africa.
It added that the South African market exceeded expectations, with Windhoek performing strongly, supported by royalty agreements and robust supply partnerships.
Headline earnings per ordinary share from continuing operations increased by 93.8%, compared to 162.7 cents in 2023.
