National Breweries Plc Sees 28% Increase in Volumes and Operating Loss of K194.3m in 2023

Published On: August 7, 2023Company: National Breweries Plc (
What are some factors impacting National Breweries Plc in 2023?
Some factors impacting National Breweries Plc during 2023 are weakening Kwacha, price increases in maize and petroleum products, and the Excise Duty regime.

National Breweries Plc ( 2023 Abridged Report

Key Insights

  • During the second half the Company launched a new product offering, Chibuku Super Banana, and continued to expand its depot footprint around the country.
  • The volume recovery registered in the second quarter continued in the third and fourth quarters resulting in the second half volume closing 66% above the prior year and annual volumes closing 28% up on the prior year.
  • The affordable offerings contributed the larger sales volume during the year.
  • The fourth quarter saw an increased acceptance of the mainstream products.
  • The Company faced headwinds from a weakening Kwacha, price increases of maize and petroleum products, and an increase in the Excise Duty regime.
  • The Company posted an operating loss of K194.3m during the period.
  • National Breweries Plc remains committed to regulatory compliance with a strict corporate governance.
  • The Company expects to grow volumes due to its diversified product portfolio, distribution footprint, and customer service.
  • The Company plans to increase the volume performance of both mainstream and Chibuku Super offerings as well as reducing costs and lead times of supplies from local suppliers.


National Breweries Plc. achieved recovery in second half volume and annual volumes in 2023 which was largely due to its affordable product offerings. The Company faced considerable headwinds due to economic factors such as the weakening Kwacha, price increases in maize and petroleum products, and the Excise Duty regime. This resulted in an operating loss for the period. The Company is committed to regulatory compliance and plans to improve its volume performance and reduce costs by further developing its product portfolio and increasing its distribution footprint.

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About National Breweries Plc (

National Breweries Plc is a leading Zambian beverage producer listed on the Lusaka Securities Exchange. The company is a major producer of beer, lager and other alcoholic beverages, catering to both domestic and international markets. Its brands are widely distributed throughout the country and beyond, contributing to over 5% of Zambia’s total beverage production.

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