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NIGERIAN BREWERIES PLC

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Nigerian Breweries : launches Plastic Recycling Project

11/05/2021 EDT
Nigerian Breweries Plc, Nigeria's foremost brewing company has launched a plastic recycling project tagged "NB Recycles" among employees as well as its host communities. This initiative is part of the company's sustainability agenda, tagged - 'Brew a Better World' (BaBW).

As part of the project, various collection points will be set up in all 9 brewery locations of Nigerian Breweries across the country (as well as the respective host communities) to encourage staff and members of the public to embrace the habit of recycling by returning all plastic bottles, aluminium cans, paper, cartons, nylon, and glass in exchange for monetary rewards.

In Lagos, the company has set up a collection point at its headquarters for staff, and also donated four recycling bins to the Ijora community in Lagos to promote community-led plastic recycling and combat plastic pollution in the area. The NB Recycles project is being executed in partnership with Wecyclers, a foremost waste recycler in Nigeria who will manage the collection, sorting, and recycling of all the plastic wastes brought in by employees and community members.

Speaking at the launch, the Chief Executive Officer of Nigerian Breweries Plc, Hans Essaadi said the project restates the company's commitment towards environmental sustainability, especially in the areas of Plastic recovery and Recycling. Essaadi noted that the employee-led recycling initiative also complements the efforts of the Food and Beverages Recycling Alliance (FBRA), in creating a circular economy via recycling of plastic waste. He noted that though the company contributes a minuscule percentage (5%) of plastic waste in Nigeria, it remains committed to ramping up efforts towards recycling plastic waste in the country.

In her remarks, the Corporate Affairs Director, Nigerian Breweries Plc, Sade Morgan described the project as one of several ways through which the company is driving awareness on plastic pollution and recycling among employees and host communities.

Disclaimer

NB - Nigerian Breweries plc published this content on 05 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 November 2021 14:53:01 UTC.


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Financials
Sales 2022 494 B 1 189 M 1 189 M
Net income 2022 24 218 M 58,3 M 58,3 M
Net Debt 2022 64 694 M 156 M 156 M
P/E ratio 2022 30,6x
Yield 2022 3,47%
Capitalization 622 B 1 498 M 1 498 M
EV / Sales 2022 1,39x
EV / Sales 2023 1,26x
Nbr of Employees 2 740
Free-Float 43,7%
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Number of Analysts 9
Last Close Price 77,00 NGN
Average target price 56,70 NGN
Spread / Average Target -26,4%
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Hans Essaadi Chief Executive Officer, Director & MD
Rob Kleinjan Finance Director & Director
Kolawole Babalola Jamodu Non-Executive Director
Philomena Aneke Director-Digital & Technology
Ifueko Marina Omoigui-Okauru Independent Non-Executive Director
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