Nestle Nigeria posted a net loss of N164.6 billion for the 2024 financial year. This marks a 107 percent decline from the N79.5 billion loss recorded in 2023.
Despite posting record revenue of N958.8 billion, a 48 percent jump in Nestle’s operating expenses to N139.4 billion from 2023’s 94.3 billion. This resulted in an operating profit of N167.9 billion. In 2024, the group’s operating margin was 17.5 percent, a significant decline from 2023’s 22.6 percent.
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