UAC of Nigeria (UACN) Q3 2025 earnings summary

Executive summary

• Revenue for the nine months ended 30 September 2025 was ₦159.6 billion, up 19.8% year-over-year from ₦133.2 billion in 2024.

• Operating profit rose to ₦13.4 billion from ₦12.3 billion year-over-year, while profit before tax increased to ₦10.4 billion from ₦12.3 billion in 2024.

• Q3 2025 revenue declined 1.5% year-over-year to ₦49.2 billion, mainly due to a 25% drop in Animal Feeds segment sales, offset by growth in Paints (+27%), Packaged Food and Beverages (+25%), and Quick Service Restaurants (+19%).

• Profit attributable to equity holders for the period was ₦5.2 billion, compared to ₦12.5 billion in the prior year.

• Completed acquisition of C.H.I. Limited, a leading dairy and juice company, in October 2025.

Financial highlights

• Gross profit for the nine months was ₦39.4 billion, up from ₦30.7 billion year-over-year.

• 9M 2025 profit before tax was ₦10.4bn (₦12.2bn underlying, excluding one-off costs and FX effects), compared to ₦20.8bn in 2024.

• Net finance cost was ₦5.7 billion, compared to net finance income of ₦7.8 billion in 2024.

• Free cash flow increased to ₦18.5bn as of Sep 2025, up from ₦2.0bn at Dec 2024.

• Cash and cash equivalents at period end stood at ₦28.4 billion, down from ₦40.6 billion at December 2024.

Outlook and guidance

• The acquisition of CHI Limited was completed in October 2025, expected to expand presence in the fast-moving consumer goods sector.

• The full impact of the CHI Limited acquisition will be reflected in subsequent reporting periods.

• Management expects the C.H.I. Limited acquisition to provide meaningful growth potential in the food and beverage sector.

• Investor engagement planned to provide further insight into the acquisition and future strategy.