East African Breweries PLC (EABL) has reported a 12% rise in after-tax profit to KSh 12.2 billion for the year ended June 2025, driven by revenue growth, foreign exchange gains, and lower finance costs.
- •Net revenue rose 4% to KSh 128.8 billion as both beer and spirits volumes expanded across the region.
- •Gross profit increased slightly to KSh 54.1 billion, while EBIT improved to KSh 25.2 billion.
- •Profit before tax also rose by 15.1% to KSh 19.3 billion.
EABL’s cash and cash equivalents increased to KSh 12.7 billion, while total debt fell by KSh 8.3 billion, further reducing borrowing costs. This decline reflects a regulatory change in Kenya: EABL no longer pays excise duty daily (as previously required) but on a monthly basis, reducing the need for short-term debt that was mainly used to finance daily excise outflows.
- •The Board has declared a final dividend of KSh 5.50 per share, bringing the annual payout to KSh 8.00—14.3% higher than last year.
| Metric | FY2025 (KSh Mn) | FY2024 (KSh Mn) | YoY % Change |
|---|---|---|---|
| Net Revenue | 128,791 | 124,131 | +3.8% |
| Gross Profit | 54,078 | 53,648 | +0.8% |
| Operating Expenses (OPEX) | 29,220 | 24,830 | +17.7% |
| EBIT (Operating Profit) | 25,171 | 24,897 | +1.1% |
| Profit Before Tax (PBT) | 19,312 | 16,771 | +15.1% |
| Profit After Tax (PAT) | 12,198 | 10,870 | +12.2% |
| Total Assets | 131,090 | 124,246 | +5.5% |
| Total Equity | 42,287 | 36,732 | +15.1% |
| Cash & Cash Equivalents | 12,745 | 11,716 | +8.8% |
| Total Dividend per Share | 8.00 | 7.00 | +14.3% |
Chairman Martin Oduor-Otieno said the results demonstrate EABL’s resilience and strategic focus. “The Board remains prudent and optimistic about our growth prospects,” he stated.
CEO Jane Karuku attributed the growth to disciplined execution, continued investment in brands, and portfolio expansion.
“All our markets recorded growth, fortifying our regional position.”
Karuku said.
However, EABL continues to face significant external threats. Karuku warned that “the ratio of illicit to formal alcohol has worsened to 60:40, up from 50:50 just a few years ago.” She highlighted how untaxed, unregulated alcohol is surging as rising costs and shrinking incomes pressure consumers, threatening gains in the formal sector.
Jane downplays Diageo exit speculations
Speculation about Diageo’s future with its subsidiary EABL continues, after reports that the global drinks giant may review or sell its 65% stake. Asked about this, Karuku responded, “What Diageo exit?”—indicating management has received no formal communication.
EABL’s leadership has reaffirmed its commitment to disciplined execution and long-term growth, while calling for stronger regulatory action to curb illicit trade and protect the formal industry.
