August 14, 2025/Cordros Report In this report, we revise our outlook and estimates for TOTAL for 2025E following the review of their H1-25 results. The company delivered a weak performance during the period, with revenue declining by 20.0% y/y, driven by broad-based declines across business segments. EBITDA margin contracted by […]

August 14, 2025/Cordros Report We update our view and estimates for Nestle Nigeria Plc (NESTLE) after a solid H1-25 showing. While heightened price sensitivity and downtrading pressured volumes, effective price increases between H1-24 and Q1-25 preserved margins, offsetting the 2.9% q/q revenue decline in Q2-25. For the rest of 2025E, […]

August 14, 2025/CSL Research Cadbury Nigeria Plc reported H1 2025 Revenue of ₦77.25 billion, marking a 50.2% y/y increase from ₦51.44 billion in H1 2024. Growth was driven by higher domestic sales, particularly in the Refreshment Beverages and Confectionery segments: • Refreshment Beverage segment: ₦49.75 billion (+58.5% y/y from ₦31.39 […]