Unilever Nigeria Plc has reported a net profit of N21.9 billion for the nine months of 2025, marking a 100 percent rise in the same period of last year.
The company’s revenue climbed to N155.4 billion in the nine months, a 50.8 percent year-on-year increase from N103 billion in 2024, reflecting broad-based demand across its three business segments—Foods, Personal Care, and Beauty & Wellbeing. The Foods division remained the major contributor, generating N94.88 billion, accounting for 61 percent of total sales
Cost of sales also rose by 50 percent to N91 billion. Despite this, Unilever’s gross margin improved to 41.2 percent, as higher product prices helped boost revenue growth.
The improvement underscores a broader trend of earnings recovery among consumer goods firms. These firms are benefiting from FX market stability and the transfer of rising costs to consumers in 2025.
Read also: H1 2025 Unaudited Report: Unilever Nigeria Delivers 54% Revenue Growth and 225% Surge in Profit After Tax
Operating profit soared to N30.46 billion, up from N10.13 billion, supported by a N2.9 billion impairment reversal on receivables and moderate growth in marketing and administrative expenses (up 15 percent to N29.5 billion).
The company also benefited from higher finance income, which increased to N7.66 billion from N6.77 billion, mainly due to returns from call deposits and favorable exchange movements. Meanwhile, finance costs fell sharply by 76 percent to N710.4 million, reflecting reduced bank borrowing and lower interest rates on trade facilities.
On the balance sheet side, total assets climbed 21 percent to N172.0 billion, driven largely by a rise in cash and cash equivalents to N97.19 billion from N68.4 billion in December 2024, underscoring strong operating cash inflows. The company’s retained earnings also rose to N37.35 billion, while shareholders’ equity grew to N97.03 billion.
Unilever generated N32.83 billion in net cash from operating activities, a significant turnaround from a N350 million outflow in the prior year, thanks to improved working capital management and higher profitability.
Margins rise in Q3
For the three months ended September 30, 2025, Unilever Nigeria recorded a 15 percent year-on-year growth in after-tax profit to N7.58 billion, compared with N6.57 billion in the same quarter of 2024.
Revenue for the quarter surged 43.5 percent to N57.31 billion, led by strong demand for food products to N36.2 billion and improved performance in the Beauty & Wellbeing category.
Cost of sales rose to N35.46 billion from N23.27 billion, but gross profit still increased to N21.85 billion from N16.67 billion. Operating profit nearly doubled to N11.65 billion from N6.67 billion, supported by higher sales volume, pricing gains, and a modest ₦292 million impairment write-back on receivables.
The company earned N1.83 billion in finance income during the quarter while trimming finance costs to ₦226.9 million, compared with N1.67 billion in the same period last year.
Speaking on the results, Tobi Adeniyi, the company’s managing director, said, “Our Q3 performance reflects the strength of our focus on our power brands, strategic product mix optimization, and disciplined cost management. We are committed to sustaining brand investment, ensuring supply chain resilience, and delivering volume-led growth with our robust portfolio.”
He further highlighted Unilever Nigeria’s long-standing commitment: “As a cornerstone of Nigerian manufacturing for over 100 years, we continue to invest locally in expanding our operations, build equitable partnerships across our value chain, and nurturing deep trust with our Nigerian consumers. Our purpose continues to be built on brightening everyday life for Nigerians.”
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