Namibia Breweries Limited (NBL) has recorded a profit of N$650.6 million for the 18 months ending 31 December 2024, driven by increased volume growth in Namibia and strong performance in the South African market.
NBL Managing Director Waldemar von Lieres attributed the company’s performance to robust sales in both markets.
“The South African market exceeded expectations, with Windhoek performing strongly, supported by royalty agreements and robust supply partnerships,” von Lieres said.
In Namibia, improved economic conditions and pricing adjustments boosted beer volumes by 7%, with Windhoek Draught leading the category.
“We continued supplying Heineken Beverages South Africa with contracted beer volumes, seeing 70% growth in 2024 compared to the 2023 calendar year. Export volumes initially contracted while establishing the export distribution model with Heineken Beverages International. However, momentum picked up in the third and fourth quarters of 2024,” he added.
Ciders and Ready-to-Drink (RTD) beverages also contributed significantly to revenue, experiencing a 44% increase, with Savanna and Hunter’s leading the growth. Spirits, primarily driven by Richelieu sales, saw a 35% rise in volume, while wines, soft drinks, and water brands recorded a 10% increase. Castelo Gingerfizz and Tassenberg performed strongly in the wines category, with Namibia remaining the largest market for Tassenberg wines by volume.
The company’s volume growth was further supported by an N$337 million investment in a local bottling and packaging line at the Windhoek production site.
“This facility enhances local production and allows NBL to package popular beverages such as Hunter’s Gold, Savanna, and Tassenberg locally. The project, which was completed ahead of schedule, involved a dedicated team and 19 suppliers, including 11 Namibian businesses, reflecting NBL’s commitment to supporting local enterprise,” von Lieres said.
Overall, NBL generated N$6.8 billion in net revenue during the reporting period, marking a 101.4% increase from the N$3.3 billion recorded over the 12 months ending 30 June 2023.
The company changed its financial year-end to December to align with HEINEKEN’s reporting requirements following its acquisition in 2023. The latest annual report reflects this adjustment, covering an 18-month financial period.
“The Namibian market continues to be a significant contributor to total revenues and earnings, with Windhoek Draught, Tafel Lager, and HEINEKEN spearheading overall beer growth. The Group maintained its strong market position despite a strained local economy, declining disposable income, and increased competition,” von Lieres said.
