Zambian Breweries H1 2025 revenue hits US$119.54M 

ZAMBIA – Zambian Breweries Plc has recorded a strong financial rebound for the six months ending 30 June 2025, with revenue climbing 20% to K2.75 billion (US$119.54M), compared with K2.29 billion (US$99.54M) in the same period in 2024.  

The company said consistent commercial execution and tighter cost oversight fueled a 35% rise in operating profit to K325.3 million (US$14.14M). 

The firm delivered a major improvement in bottom-line performance, swinging to a Profit After Tax (PAT) of K202.3 million, marking a 1,473% increase from the K14.7 million (US$638K) net loss registered in H1 2024.  

Chief executive officer Thais Cavinatto described the results as evidence of successful commercial initiatives and strategic focus, emphasizing renewed confidence in delivering sustained value for stakeholders. 

Net finance costs rose marginally by 4% to K212 million (US$9.22M), largely due to higher central bank policy rates during the period. Despite profitability gains, cash generation came under pressure.  

Net cash from operating activities closed negative at K34.2 million (US$1.49M), reversing from K97.8 million (US$4.25M) posted a year earlier. The company attributed the shift to significantly higher capital spending, with investing outflows more than doubling to K488.3 million (US$21.23M) for upgrades in property, plant, and equipment. 

Zambian Breweries maintained its loan reduction agenda, channeling K248.6 million (US$10.81M) toward debt repayment. The reporting period closed with a negative cash position, reflecting a bank overdraft balance of K379.2 million (US$16.48M). 

In July 2025, Zambia’s Parliament approved amendments to the Income Tax and Customs and Excise Acts, measures the company said will influence its pricing and sourcing strategies in the second half of 2025.  

The revision of excise duty on clear beer from 40% to 50% is expected to drive changes in product pricing, sales volumes, and related supply decisions. To offset these anticipated effects, the Mosi Lager producer said it will adopt calibrated pricing approaches to maintain stakeholder value. 

The board chose not to issue interim dividends, electing instead to accelerate debt reduction and reinforce longer-term financial stability.  

Looking ahead, the brewer aims to lean on expanded production capacity and strong brand positioning to support continued revenue and volume growth while protecting profitability. 

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