Guinness Nigeria Plc

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Guinness Nigeria Plc (2021-12)
  • Guinness Nigeria Plc
  • Year : Dec 2021
3 Tokens
USD 300.00
Summary

Guinness’ strong financial profile is supported by its moderate debt level. Gross debt reduced by almost half to N12bn at 9M FY21, following the repayment of all advances relating to letters of credit and full settlement of bank loans. Accordingly, Guinness now reports a net ungeared position, with operating cash flow coverage of debt at a review period high of 485%, and EBITDA coverage of interest rising to 10.5x (FY20: 3.8x).

Additional Information

Guinness engages in brewing, marketing, and selling of alcoholic and non-alcoholic drinks. Effective 1 January 2016, Diageo, through some of its subsidiaries granted Guinness the exclusive rights to the know-how, manufacturing, distribution and marketing of international premium brands of Diageo. As such, Guinness is the only total beverage alcohol company in Nigeria with a portfolio of brands spanning non-alcoholic beverages, spirits, lager and stout. The Stable Outlook reflects GCR’s opinion that Guinness’s will achieve renewed earnings growth, which will support the continued robust gearing and liquidity profile.

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