FrieslandCampina WAMCO Posts 566% Surge in PBT at 53rd AGM

Despite a challenging macroeconomic environment marked by high interest rates, inflationary pressures, foreign exchange volatility, and supply chain disruptions, FrieslandCampina WAMCO Nigeria PLC, the country’s leading dairy company and producer of Peak, Three Crowns, Coast, Olympic, and Nunu milk brands, has reported a strong financial turnaround. It posted a 566 per cent increase in Profit Before Tax (PBT) for the financial year ended 31 December 2025.

The performance was disclosed at the company’s 53rd Annual General Meeting (AGM) held on Tuesday, at the Lagos Marriott Hotel, Ikeja, where shareholders, board members, and stakeholders gathered to review the company’s results and strategic outlook.
The company said it delivered a strong recovery, returning to profitability and strengthening both its balance sheet and liquidity position.

Revenue rose by 25 per cent from ₦493.6 billion in 2024 to ₦615.9 billion in 2025, driven by volume growth, targeted pricing actions, and expanded market penetration across key product categories.
Gross profit also improved significantly to ₦119 billion, supported by a better product mix, operational efficiencies, cost optimisation initiatives, and relative stability in the naira exchange rate in the second half of the year.

The company’s Profit Before Tax jumped 566 per cent from ₦4.9 billion in 2024 to ₦32.7 billion in 2025, boosted by stronger operating profit, reduced finance costs, and lower borrowing levels.

Profit After Tax stood at ₦18.4 billion in 2025, marking a sharp recovery from a ₦749 million loss recorded in the previous year. Total equity also improved significantly, rising from ₦3.8 billion in 2024 to ₦18.8 billion in 2025.
Shareholders approved a dividend of ₦1.00 per 50 kobo ordinary share for the 2025 financial year, reflecting what the company described as a balanced approach between rewarding investors and strengthening its capital base.

Speaking at the AGM, Managing Director of FrieslandCampina WAMCO Nigeria PLC, Roger Adou, described 2025 as a defining year for the company, noting that the business successfully returned to profitability despite persistent economic headwinds.

“We significantly improved operational efficiency across our factories, strengthened our route-to-market capabilities, enhanced our commercial execution, and optimized our supply chain operations,” he said.

Adou also highlighted continued investments in brands, people, and sustainability initiatives, noting progress in dairy development programmes. According to him, over 13,000 farmers were trained in 2025, while raw milk volumes increased by 19 per cent compared to the previous year.

In his address, Chairman of the Board, Olayinka Sanni, described 2025 as a year of recovery, resilience, and strategic progress, noting that gradual improvements in inflation and foreign exchange stability supported business confidence.

“The Company’s strong recovery in profitability and equity position demonstrates the effectiveness of our strategic actions, disciplined financial management, and operational transformation initiatives.”

Sanni thanked shareholders, employees, customers, and partners for their continued support, adding that the company remains focused on sustainable growth, operational efficiency, and long-term value creation.

Looking ahead to 2026, he said FrieslandCampina WAMCO would continue to prioritise dairy development, responsible business practices, and investments aimed at strengthening its competitiveness in Nigeria’s dairy sector.