April 30, 2025/CSL Research

Financial Highlights:

• Revenue: +57.1% y/y to ₦37.23Bn
• Cost of Sales: +34.1% y/y to ₦25.07Bn
• OPEX: +28.7% y/y to ₦2.86Bn
• EBITDA: +213.8% y/y to ₦10.18Bn
• Operating Profit: +251.0% y/y to ₦9.69Bn
• Profit before Tax: +181.7% y/y to ₦8.54Bn

Stock Rating: HOLD, Target Price: ₦33.05/s

To read full report, click on the link below​​

​​​​​​​​​CADBURY Q1 2025 Quick Take.pdf​​​​​​​

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