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Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out (18550 Views)

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Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by KillIgbohoN0W: 9:45pm On Apr 02

Cadbury Nigeria Plc reported a pre-tax loss of N28.2 billion in FY 2023, marking a whopping 2269% decline from the N1.3 billion pre-tax profit posted in 2022.

According to the company’s audited financial statement for 2023, Cadbury Nigeria posted a revenue of N80.4 billion in 2023, reflecting a 46% growth from the N55.2 billion posted in 2022.

In 2023, the group recorded a N36.9 billion foreign exchange loss, effectively resulting in a retained loss of N11.4 billion and a negative equity of N6.5 billion.

Key Highlights (FY 2023 vs FY 2022)

-Revenue: N80.4 billion, +46% YoY
-Cost of sales: N63.0 billion, +33% YoY
-Gross profit: N17.3 billion, +124% YoY
-Selling and distribution expenses: N7.3 billion, +16% YoY
-Operating profit: N7.9 billion, +3957% YoY
-Net finance (cost)/income: -N36.0 billion, -3362% YoY
-Loss before tax: N28.2 billion, -2269% YoY
-Loss for the year: N19.1 billion, -3374% YoY
-Earnings per share: -N10.16, -3374% YoY

Total assets: N63.4 billion, +6% YoY


What you should know
The company’s primary revenue sources were refreshment beverages, including Cadbury Bournvita and 3-in-1 Hot Chocolate, which collectively generated N52.2 billion in sales in 2023.

This was followed by confectionery products such as TomTom, Candy Caramel, Candy Coffee, Buttermint, and Clorets gum, which contributed N25.6 billion in revenue. Additionally, Bournvita Biscuit, introduced to the market in 2023, generated N609 million in sales.

Facing a challenging financial scenario evidenced by a negative equity of N6.5 billion in 2023, the company is actively pursuing debt restructuring as a necessary measure.

Consequently, the company is currently in the process of converting a $7.7 million debt owed to its principal shareholder, Cadbury Schweppes Overseas Limited, into equity. This move will increase Cadbury Schweppes Overseas Limited’s shareholding in Cadbury Nigeria to 79.39%.

Source: Nairametrics

7 Likes 1 Share

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by kettykin: 9:51pm On Apr 02
Most of the multinational companies aside banks and oil companies operating in Nigeria made mouth gaping losses .
I foresaw all this sometime last year and made a thread that Lagos was gone and I was called names .

Lagos eateries are barely making any progress

131 Likes 7 Shares

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by Peakdesign23(m): 9:54pm On Apr 02
That’s a massive loss. I pray they find balance.

35 Likes 3 Shares

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by KillIgbohoN0W: 9:56pm On Apr 02
kettykin:

Lagos eateries are barely making any progress

They will make back their profit serving Agbado & Cassava recipes.

161 Likes 11 Shares

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by Tonididdyx: 10:00pm On Apr 02
Hmmm.... Investor Don jam!

1 Like

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by CalabarPikin: 10:01pm On Apr 02
Omo


Just omo.

1 Like

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by mipeesoft(m): 10:01pm On Apr 02
Apc is really doing well make we clap for them abeg grin grin grin grin
KillIgbohoN0W:


Source: Nairametrics

57 Likes 6 Shares

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by concho(m): 10:01pm On Apr 02
What then is the faith of smaller businesses

50 Likes 2 Shares

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by Aust1n(m): 10:01pm On Apr 02
This is not a good one.

2 Likes

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by BOSSkesh(m): 10:01pm On Apr 02
It will bounce back
Calm down

14 Likes 1 Share

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by Jmk9292(m): 10:01pm On Apr 02
The new order in Nigeria

16 Likes

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by Ofunaofu: 10:03pm On Apr 02
I am not sure there's no multi-national company that didn't make losses under the first nine months of this calamitous Tinubu regime. 

Millions of Nigerians got poorer under this calamitous Tinubu regime. 

Tinubu is a plague that have inflicted this country

115 Likes 13 Shares

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by Gadafii: 10:03pm On Apr 02
If APC is not stopped, they will take us back to stone age 😂😂😂

81 Likes 9 Shares

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by kettykin: 10:05pm On Apr 02
BOSSkesh:
It will bounce back
Calm down

If only you know how seriously sales are going in view of the high cost of things. I drove around during the holidays and I wept for Nigeria

64 Likes 4 Shares

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by Dosoq(f): 10:05pm On Apr 02
Loss my FOOT!

After increasing the prices of all their products, most especially the bournvita chocolate tea, a carton of the small sachet of bournvita chocolate tea was #23500 as at February(as at the last time I bought it),I'm sure it's not less than #24k+ as we speak ,let alone other products.

They have doubled the price of all their goods,so they should stop crying for loss.

20 Likes 2 Shares

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by JoeyNaza: 10:05pm On Apr 02
What we don't realise is that Nigeria is slowly losing the confidence of foreign investment especially in manufacturing, multiple multinationals have dumped the country in recent months and in 2023, Nigeria had a negative growth in FDI, the first time since 1995. Trade deficit was also above 1 trillion in Q4 2023. The earlier we control this the better.

46 Likes 3 Shares

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by strangest(m): 10:05pm On Apr 02
Cryptocurrency investment sure pass this one.....





His Excellency Ahmed Tinubu (HEAT)

7 Likes 1 Share

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by Sunofgod(m): 10:05pm On Apr 02
The news sweet me like chocolate... grin

6 Likes 3 Shares

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by Kukutente23: 10:06pm On Apr 02
Tinubulation everywhere

It has not favored them and their families

34 Likes 2 Shares

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by Faiththatworks(m): 10:06pm On Apr 02
I believe this headline about companies making losses are misleading.
These companies are making massive revenues with marginal increases in expenditure,but when it's time to declare dividend,they bring up this loss abracadabra.
This loss they are basically declaring is from their exposure to foreign debts, these companies secured foreign loans in the cause of doing their business,but now that it's time to repay, the exchange rate has now ballooned.
These companies should be more open on where their losses are coming from and stop this facade that the Nigerian Economy is in massive depression,their losses is not because the Economy is bleeding,but because of their exposure to foreign loans.
God bless Nigeria.....

36 Likes 4 Shares

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by clefstone(m): 10:07pm On Apr 02
Where is Reno Omokri(Omokri means local male goat that smells, also called Busuru in Hausa)

35 Likes 7 Shares

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by FineUsername(m): 10:08pm On Apr 02
Some companies go use this FX dodge taxes.

8 Likes 1 Share

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by iLoveYouToo(m): 10:09pm On Apr 02
This is the new scam to flush out shareholders

9 Likes 1 Share

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by DIVINEEVIDENCE: 10:09pm On Apr 02
Na statistics we go chop?

38 Likes 3 Shares

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by RainMoreDFARMS(f): 10:09pm On Apr 02
kettykin:
Most of the multinational companies aside banks and oil companies operating in Nigeria made mouth gaping losses .
I foresaw all this sometime last year and made a thread that Lagos was gone and I was called names .

Lagos eateries are barely making any progress
Do you mind showing us thw particular thread you made the claims last year

10 Likes 3 Shares

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by correctguy101(m): 10:09pm On Apr 02
Tonididdyx:
Hmmm.... Investor Don jam!

Anytime the bubble bursts...

Shareholders always suffer...

E get why wink

5 Likes

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by omoadeleye(m): 10:10pm On Apr 02
Ehyaa.
Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by SmartPolician: 10:10pm On Apr 02
Tinubu is about to totally destroy this country.

All major companies are reporting huge losses while others are exiting the country.

These trends are quite unfortunate and disturbing.

20 Likes

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by Millimann: 10:10pm On Apr 02
Waiting for Defenders to come and defend.

18 Likes 1 Share

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by MasterJayJay: 10:10pm On Apr 02
Tinubulation, the disaster that has wrecked many businesses.

17 Likes

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by Fearyourcreator: 10:10pm On Apr 02
kettykin:
Most of the multinational companies aside banks and oil companies operating in Nigeria made mouth gaping losses .
I foresaw all this sometime last year and made a thread that Lagos was gone and I was called names .

Lagos eateries are barely making any progress
Yinmu ... The price of their products no go up ni or what ?

6 Likes

Re: Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out by FreeStuffsNG: 10:10pm On Apr 02
KillIgbohoN0W:


Source: Nairametrics
Paper loss wink

Cadbury is in great hands. The majority shareholder is getting a steal by increasing its stake in Cadbury Nigeria immediately after a forex devaluation before the naira recovers fully and cancel their forex gain in naira; purely smart business decision.
You don't increase your stake in a bad business wink

Only cyberbullies with zero knowledge of financial statements will struggle to understand that this is a paper loss and that the winner is the majority shareholder.
Check my signature for free stuffs!

16 Likes 2 Shares

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