Report of the Executive Board
Regional Review
continued
Nigeria
Consolidated beer volume 7.1 million hectolitres
Market share 64.6 per cent
Market position 1
The economic growth in the country is very
strong, driven in part by the increase of oil prices
during the last two years. As a result, consumption
trends are on the rise and the beer industry
is benefiting.
Volumes of Nigerian Breweries soared by more
than 11 per cent, back on track after large price
increases implemented in late 2004. All major
brands with the exception of Gulder® posted
double-digit growth, with Amstel up by 56 per
cent, and Star, our biggest mainstream brand,
exceeding 3 million hectolitres. Heineken brand
performance was also brilliant, up almost 50
per cent.
Revenues at Nigerian Breweries surged at almost
double-digit rates, driven by strong volumes. EBIT
improved for the second year in a row. This result
was also achieved thanks to savings in variable
costs and the positive currency contribution,
as Naira was appreciated against the Euro.
Trends were equally positive at Consolidated
Breweries of Nigeria, which recorded 32 per cent
growth in volumes and an increase in EBIT and
which relaunched the "33"® and Hi-malt® brands.
