EABL (East African Breweries Limited) Plc posted an impressive 49.4% growth in net earnings for the financial year ended 30th June 2026), to KSh18.2billion compared to KSh12.2 billion the previous year.
The strong profitability was anchored by double-digit top-line growth, with net revenues climbing 13.3% to KSh146.0billion.
Gross profit grew14.9% to KSh 62.2billion, driving a slight gross margin expansion to 42.6% from 42.0% in the previous period.
EABL saw its cost management remain effective throughout the year. Total costs grew by a modest 2.0% to KSh 118.3billion, with the increase primarily reflecting a 12.2% rise in cost of sales, likely tied to higher volume throughput.
Finance costs benefited from the 14.9% drop in total borrowings (from KES 42.3billion in 2025 to KSh 36.0 billion in FY26).
EABL saw its operating expenses drop 1.2% to KSh 28.9 billion, with currency translations in the period under review resulting in forex loss of KSh 1.2billion compared to a gain of KSh 313million in 2025.
The business posted a 43.2% growth in pre-tax earnings to KSh27.7billion. On account of the KSh 9.4Bn tax change (an effective tax rate of 34.1%), the business reported net earnings of KSh 18.2billion – with earnings attributable to shareholders estimated at KSh 15.0billion.
The board of directors has recommended a final per-share dividend payment of KSh 8.70 to be paid on or about 31st October 2026, with a book closure date of 19th October 2026. Inclusive of the KSh 4.00 per share interim payout, this brings the total dividend payout for this financial year to KSh 12.70, 58.8% higher than the KSh 8.00 payout in the 2025 financial year.
According to an earnings commentary by Standard Investment Bank(SIB), EABL revenues were up13.3% commendably growing faster than costs which were up2.0%.
Ongoing debt reduction continues to strengthen EABL gearing position, with the debt-to-equity ratio improving by 20.9% in 2026. Lower financing obligations should provide clear tailwinds to bottom-line profitability going forward.
EABL incoming shareholder
As a new shareholder, Asahi, prepares to replace Diageo on the EABL board, its growth model – centered on scaling core beer brands and expanding into adjacent categories and geographic markets –  is seen as a strong operational fit for EABL.
Asahi is expected to leverage its control premium to expand its existing global brand portfolio across Africa, while key Diageo brands transition under long-term licensing and royalty agreements.
Investors have been advised to have confidence in Asahi’s commitment to the region, as East Africa remains well-positioned for sustained long-term growth driven by favourable demographic dividends and broader economic expansion.
EABL is East Africa’s leading branded alcohol beverage business with an outstanding collection of brands that range from beer, spirits and adult non-alcoholic drinks (ANADs), reaffirming its standing as a total adult beverage (TAB) company.
With breweries, distilleries, support industries and a distribution network across the region, the group’s diversity is an important factor in delivering the highest quality brands to East African consumers and long-term value to East African investors.
As a consumer-driven business, EABL has been keen to study the market and understand consumer needs and wants and how best to satisfy them. That is why the brewer constantly investing in innovating and renovating its brands to stay on par with dynamic consumer trends. This goes hand in hand with its Vision to be the most celebrated business in Eastern Africa.
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