The total input costs of nine fast-moving consumer goods (FMCG) firms in Nigeria consumed 66.8 percent of their total revenue in the first nine months of 2023, a BusinessDay analysis has shown.
The figure is lower than 69.1 percent in the same period of 2022. The firms analysed are Dangote Sugar Refinery Plc, International Breweries Plc, Unilever Nigeria Plc, Cadbury Nigeria Plc, Champion Breweries Plc, BUA Foods Plc, Nigerian Breweries Plc, Nestle Nigeria Plc and Nascon Allied Industries Plc.
The firms’ combined input costs rose to N1.35 trillion from N1.12 trillion, while their total revenue grew to N2.02 trillion from N1.62 trillion.
Analysis of data from individual firms
Dangote Sugar Refinery
The firm’s input costs gulped 79.1 percent of total revenue in the first nine months of last year, down from 80.1 percent in the same period of 2022. Its input costs grew to N245.1 billion from N230.9 billion. Revenue rose to N309.71 billion from N288.32 billion.
International Breweries
The firm’s input costs took 79 percent of total revenue in the first nine months which was more than 76.8 percent in the same period of last year.
Input cost rose to N145.13 billion from N123.16 billion. Revenue increased to N183.78 billion from N160.43 billion.
Unilever Nigeria
The firm’s input cost gulped 76.2 percent of total revenue in nine months of 2023 from 73.5 percent in the same period of 2022.
Input cost rose to N396.59 billion from N333.47 billion. Revenue grew to N81.58 billion from N64.77 billion.
Cadbury Nigeria
Cadbury Nigeria’s input cost was 72.4 percent of total revenue in nine months of 2023, down from 80.3 percent in the same period of 2022.
Input cost grew to N42.89 billion from N34.16 billion. Revenue increased to N59.2 billion from N42.54 billion.
Champion Breweries
The firm’s input cost gulped 69.3 percent of total revenue in nine months of 2023, a rise from 57.8 percent in the same period of 2022.
Input cost rose to N5.79 billion from N5.18 billion. Revenue dropped to N8.36 billion from N8.96 billion.
BUA Foods
The firm’s input cost took 64.9 percent of total revenue in the first nine months of 2023, down from N67.5 percent in the same period of 2022.
Input cost rose to N340.6 billion from N195.6 billion. Revenue grew to N524.43 billion from N289.82 billion.
Nigerian Breweries
The firm’s input cost gulped 62 percent of total revenue in the nine months of 2023 which was more than 60.7 percent in the same period of 2022.
Input cost increased to N249.2 billion from N238.9 billion. Revenue grew to N401.8 billion from N393.45 billion.
Nestle Nigeria
The firm’s input cost was 59.6 percent of total revenue in the nine months of 2023, down from 64.8 percent in the same period of 2022.
Input cost increased to N236.4 billion from N216.19 billion. Revenue grew to N396.59 billion from N333.47 billion.
Nascon Allied Industries
The firm’s input cost gulped 45.3 percent of total revenue in the first nine months of 2023, down from 61.9 percent in the same period of 2022.
Input cost grew to N26.79 billion from N 25.14 billion. Revenue increased to N59.11 billion from N40.61 billion.
