Key Performance Metrics

  • The review of Net Profit Margin witnessed a declining trend. The Net Profit Margin moved from –7.91% in 2019 to 4.17% in 2023.
  • The average EBIT Margin for the period under analysis was 4.48%, with 2020 and 2022 performing the worst and best, respectively.
  • In the current year, Guinness Nigeria was able to cover its interest liabilities 3.63 times – compared to 2019 when it was 8.09 times.
  • The Asset turnover stood at 1.00 times in 2023 from 0.94 in 2019, implying a high performance on Assets of the business in relation to revenue.


  • The revenue of Guinness Nigeria has increased year on year. The revenue increased by –8.03% between 2019 and 2020 and a further –20.63% decrease was recorded between 2020 and 2021. There also occurred an increase of 10.94% between 2022 and 2023 (the current period).
  • Guinness Nigeria’s performance in profitability looks good as the return on equity also recorded good performance during the period of analysis.


  • The company’s result in liquidity looks poor, as current ratio decreased from 0.92:1 to 0.77:1 on the last year. Which implies that the company does not have enough assets to settle its current liabilities.

Capital Structure

  • Guinness Nigeria is both equity and debt financed.
  • The debt-to-equity (D/E) ratio has been fluctuating year on year. The gearing position of the company appears to be high as it stood at 328% in the current year.

Source: Guinness Nigeria Annual Report

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