53rd AGM: FrieslandCampina WAMCO Nigeria PLC Holds 53rd Annual General Meeting, Returns to Profitability with 566% Growth in Profit Before Tax in 2025 Results
FrieslandCampina WAMCO Nigeria PLC, the leading dairy company in Nigeria and makers of Peak, Three Crowns, Coast, Olympic and Nunu milk brands, successfully held its 53rd Annual General Meeting (AGM), reporting a strong financial recovery with significant growth across key performance indicators in its financial year ended 31 December 2025.
The AGM, which took place at the Lagos Marriott Hotel, Ikeja, Lagos on Tuesday, May 19, 2026, brought together shareholders, board members, and key stakeholders to deliberate on the Companys 2025 performance and strategic outlook for the future.
Operating Results and Performance
The Company delivered a strong rebound in 2025, returning to profitability and strengthening its balance sheet and liquidity position despite continued macroeconomic pressures within the operating environment.
Revenue increased by 25% from โฆ493.6 billion in 2024 to โฆ615.9 billion in 2025, driven by strong volume growth, targeted pricing initiatives, and sustained market expansion across key product categories.
Gross Profit rose significantly to โฆ119 billion in 2025, driven by improved product mix, operational efficiency, cost-saving initiatives, and the relative strengthening of the Naira during the second half of the year.
Profit Before Tax (PBT) increased remarkably by 566% from โฆ4.9 billion in 2024 to โฆ32.7 billion in 2025, supported by improved operating profit, reduced finance costs, and lower borrowings.
The Company recorded a Profit After Tax of โฆ18.4 billion in 2025, representing a major recovery from the โฆ749 million loss recorded in 2024. Consequently, total equity improved significantly from โฆ3.8 million in 2024 to โฆ18.8 billion in 2025.
The Board of Directors proposed and the shareholders approved a dividend payout of โฆ1.00 per 50k ordinary share for the 2025 financial year, reflecting the Companyโs commitment to balancing shareholder returns with the need to strengthen equity and maintain business resilience.
Mr. Roger Adou, Managing Director, FrieslandCampina WAMCO Nigeria PLC
โ2025 was a defining year for FrieslandCampina WAMCO Nigeria PLC as we successfully returned the business to profitability despite persistent macroeconomic and operational challenges. The operating environment remained complex with high interest rates, supply chain disruptions, inflationary pressures, and foreign exchange volatility continuing to impact businesses across Nigeria.
Despite these headwinds, our teams demonstrated exceptional resilience, agility, and commitment. We significantly improved operational efficiency across our factories, strengthened our route-to-market capabilities, enhanced our commercial execution, and optimized our supply chain operations.
We also continued to invest in our brands, our people, and our sustainability agenda. Our dairy development initiatives recorded strong progress in improving local milk sourcing, farmer capability development, and dairy ecosystem sustainability. In 2025 alone, over 13,000 farmers were trained, while raw milk volumes increased by 19% compared to the previous year.
As a company committed to nourishing Nigerians with quality dairy nutrition, we expanded several consumer engagement initiatives and reinforced our presence across strategic categories and channels. We remain focused on operational excellence, innovation, sustainability, and long-term value creation for all stakeholders.
Mr. Olayinka Sanni, Chairman, Board of Directors
2025 marked a year of recovery, resilience, and strategic progress for FrieslandCampina WAMCO Nigeria PLC. Although the macroeconomic environment remained challenging, we witnessed gradual improvements in economic stability, moderation in inflation, and relative stability in the foreign exchange market, which positively impacted business confidence.
The Companys strong recovery in profitability and equity position demonstrates the effectiveness of our strategic actions, disciplined financial management, and operational transformation initiatives. Our focus remains on building a more resilient business capable of delivering sustainable long-term value despite ongoing economic uncertainties.
On behalf of the Board, I would like to sincerely appreciate our shareholders for their unwavering confidence and support, our employees for their dedication and resilience, our customers and consumers for their loyalty, and our partners for their continued collaboration.
As we look ahead to 2026, we remain optimistic about the future of our Company. We will continue to focus on sustainable growth, operational efficiency, responsible business practices, dairy development, and investments that strengthen our long-term competitiveness in Nigerias dairy industry.
2026 Business Outlook
According to the International Monetary Fund (IMF), Nigerias economy is expected to grow by 4.4%, supported by ongoing economic reforms, improved investor confidence, and growth in key sectors.
However, the operating environment for manufacturers is expected to remain challenging due to inflationary pressures, high interest rates, energy costs, supply chain disruptions, insecurity, geopolitical uncertainties and climate-related risks.
Despite these challenges, FrieslandCampina WAMCO Nigeria PLC remains confident in its growth trajectory and strategic direction. The Company will continue to focus on growing sales, driving operational efficiency, strengthening sustainability initiatives, supporting local dairy development, investing in innovation, and empowering its workforce to deliver sustainable value for stakeholders.
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