Transparency:Nestlé Nigeria 2021 Full Year Financial Results

Nestlé Nigeria 2021 Full Year Financial Results 

Nestlé Nigeria Plc announced its financial results for the year 2021. The company posted 

a revenue of N 351.8 billion recording 22.6% growth over the previous year. Gross profit 

for the year stood at N 132.4 billion, compared to N 119.2 billion during the previous year.

 

The Company posted profit after tax of N 40.0 billion for the year. The detailed financial 

results are published on Nestlé’s website. 

In addition to N 25 per share interim dividend paid in December 2021, the Board 

proposed an additional dividend of N 25.50 per share making for a total dividend of 

N 50.50 for 2021. This proposed dividend will be submitted for approval at the company’s Annual General Meeting on 29

th June 2022.

Results:

2021 2020

 

N’000

 

N’000

Revenue 351,822,329 287,084,087

Cost of Sales -219,419,757 -167,872,616

Gross Profit 132,402,572 119,211,471

Marketing and Distribution expenses -48,097,581 -43,843,396

Administrative expenses -11,881,844 -10,910,269

Results from operating activities 72,423,147 64,457,806

Finance income 2,059,782 646,546

Finance costs -12,606,983 -4,426,686

Net finance costs -10,547,201 -3,780,140

Profit before income tax 61,875,946 60,677,666

Income tax expense -21,826,282 -21,426,418

Profit for the period 40,049,664 39,251,248

 

 

 

Mr. Wassim Elhusseini, Managing Director and CEO of Nestlé Nigeria PLC

 

Commenting on the results, Mr. Wassim Elhusseini, Managing Director and CEO of Nestlé Nigeria PLC, said, “We commend everyone in our organisation for their contributions to the attainment of this impressive results in these challenging times. It is a testament of the consistent dedication and commitment of our employees to ensure that we continuously deliver value for our shareholders, our consumers, and the communities in which we operate. “

“In 2022, our focus remains on ensuring the safety and wellbeing of our employees, as well as providing affordable nutrition to enable consumers to nourish their families daily,while we work together to benefit mankind and our planet. 

We will continue to push the boundaries of what is possible with foods, beverages, and nutritional solutions to enhance quality of life and contribute to a healthier future for everyone today and for generations to come.” 

Media Contact :

Victoria Uwadoka

Corporate Communications & Public Affairs Manager

Victoria.Uwadoka@ng.nestle.com

Corporate.Communications@ng.nestle.com

Tel : +234 805 2797392

About Nestlé Nigeria: 

Nestlé Nigeria is one of the largest food and beverage companies in Africa. For over 59 years, the 

company has been delighting consumers around Nigeria by consistently delivering high quality: nutritious food. 

With a staff strength of over 2,200 direct employees, 3 manufacturing sites, 7 branch offices and a head 

office located in Lagos, the company produces and markets several iconic brands including: NESTLÉ 

PURELIFE, GOLDEN MORN, MILO, MAGGI, and NESCAFÉ.

Nestlé’s purpose is to unlock the power of food to enhance quality of life for everyone today and forever.