INTERNATIONAL BREWERIES : QUARTER 1 - FINANCIAL STATEMENT FOR 2022

International Breweries Plc Unaudited Condensed Financial Statements for the 3 months ended 31st March 2022

International Breweries Plc Unaudited Condensed Financial Statements for the 3 months ended 31st March 2022

Contents

Certification of financial statements 2

Statement of directors' responsibilities 3

Statement of profit or loss 4

Statement of other comprehensive income 5

Statement of financial position 6

Statement of changes in equity 7

Statement of cash flows 8

Notes to the financial statements 9

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International Breweries Plc Unaudited Condensed Financial Statements for the 3 months ended 31st March 2022

Certification of the unaudited condensed financial statements

Futher to the provisions of section 405 of the Companies and Allied Matters Act, 2020, we the Managing Director/CEO and Finance Director of International Breweries Plc ("the company") respectively hereby certify as follows:

• a) That we have reviewed the Unaudited condensed financial statements of the company for the period ended 31st March 2022.

b)That the Unaudited condensed financial statements represents the true and correct financial position of our company as at the said date of 31st March 2022.

c)

That the Unaudited condensed financial statements does not contain any untrue statement of material fact or omit to state a material fact, which would make the statement misleading.

d)

That the Unaudited condensed financial statements fairly presents, in all material respects, the financial condition and results of operation of the company as of and for the period ended 31 March, 2022.

e)That we are responsible for establishing and maintaining internal controls and affirm that the company's internal controls were effective as of 31st March, 2022.

f)That all significant deficiencies in the design or operation of internal controls which could adversely affect the company's ability to record, process, summarise and report financial data have been disclosed to the independent Auditor and the Audit Committee.

Signed

Mr. Hugo, Dias Rocha	Mr. Bruno Zambrano	Ms. Chinyere Ezeugwu
Managing Director	Finance Director	Country Finance Manager
FRC/2022/003/00000022841	FRC/2020/003/00000020628	FRC/2013/ICAN/00000000781
27 April, 2022	27 April, 2022	27 April, 2022
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International Breweries Plc Unaudited Condensed Financial Statements for the 3 months ended 31st March 2022

Statement of directors' responsibilities

The Companies and Allied Matters Act requires the directors to prepare financial statements for each financial year that give a true and fair view of the state of financial affairs of the Company at the end of the year and of its profit or loss. The responsibility includes:

• a) ensuring that the Company keeps proper accounting records that disclose, with reasonable accuracy, the financial position of the Company and comply with the requirements of the Companies and Allied Matters Act;

• b) designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatements, whether due to fraud or error; and

• c) preparing the Company's financial statements using suitable accounting policies supported by reasonable and prudent judgements and estimates that are consistently applied.

The directors accept responsibility for the unaudited condensed quartely financial statements, which have been prepared using appropriate accounting policies supported by reasonable and prudent judgements and estimates, in conformity with International Financial Reporting Standards and the requirements of the Companies and Allied Matters Act.

Nothing has come to the attention of the directors to indicate that the Company will not remain a going concern for at least twelve months from the date of this statement.

HRM Nnaemeka Alfred Achebe, CFR,MNI	Bruno Zambrano	Mr. Hugo, Dias Rocha
Chairman	Finance Director	Executive Director
FRC/2013/NIM/00000001568	FRC/2020/003/00000020628	FRC/2022/003/00000022841
27 April, 2022	27 April, 2022	27 April, 2022
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International Breweries Plc Unaudited Condensed Financial Statements for the 3 months ended 31st March 2022

Statement of profit or loss

3 Months	3 Months
Jan - Mar	Jan - Mar
31 March 2022	31 March 2021
Note	N'000	N'000
Revenue	3	57,521,606	38,964,318
Cost of sales	4	(37,567,213)	(32,478,909)
Gross profit	19,954,393	6,485,409
Administrative, Marketing and promotion expenses	4	(12,106,262)	(8,977,469)
Impairment charge on financial assets	(34,180)	(217,761)
Other expense	5	(4,114,607)	(167,671)
3,699,344	(2,877,492)
Finance income	6	1,507,072	17
Finance cost	6	(3,349,982)	(684,385)
Finance costs - net	(1,842,909)	(684,368)
Profit/(Loss) before tax	1,856,435	(3,561,860)
Income tax (charge)/credit	(1,135,268)	982,948
Profit/ (Loss) for the period	721,167	(2,578,912)
Basic and diluted earnings/(loss) per share (Naira)	13	0.03	(0.10)

The notes on pages 9 to 12 are an integral part of these financial statements.

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