INTERNATIONAL BREWERIES : QUARTER 2 - FINANCIAL STATEMENT FOR 2023

International Breweries Plc

Unaudited Condensed Financial Statements

for the 3 months ended 30th June 2023

International Breweries Plc Unaudited Condensed Financial Statements for the 3 months ended 30th June 2023 Contents

Certification of financial statements	2
Statement of directors' responsibilities	3
Statement of profit or loss	4
Statement of other comprehensive income	5
Statement of financial position	6
Statement of changes in equity	7
Statement of cash flows	8
Notes to the financial statements	9

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International Breweries Plc

Unaudited Condensed Financial Statements for the 3 months ended 30th June 2023

Certification of the unaudited condensed financial statements

Futher to the provisions of section 405 of the Companies and Allied Matters Act, 2020, we the Managing Director/CEO and Finance Director of International Breweries Plc ("the company") respectively hereby certify as follows:

1. That we have reviewed the Unaudited condensed financial statements of the company for the period ended 30th June 2023.
2. That the Unaudited condensed financial statements represents the true and correct financial position of our company as at the said date of 30th June 2023.
3. That the Unaudited condensed financial statements does not contain any untrue statement of material fact or omit to state a material fact, which would make the statement misleading.
4. That the Unaudited condensed financial statements fairly presents, in all material respects, the financial condition and results of operation of the company as of and for the period ended 30 June, 2023.
5. That we are responsible for establishing and maintaining internal controls and affirm that the company's internal controls were effective as of 30th June, 2023.
6. That all significant deficiencies in the design or operation of internal controls which could adversely affect the company's ability to record, process, summarise and report financial data have been disclosed to the independent Auditor and the Audit Committee.
   Signed

Mr. Carlos Countino	Mr. David Tomlinson	Ms. Chinyere Ezeugwu
Managing Director	Director	Country Finance Manager
FRC/2023/PRO/DIR/003/877967	FRC/2023/PRO/DIR/003/147669	FRC/2013/ICAN/00000000781
28 July, 2023	28 July, 2023	28 July, 2023

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International Breweries Plc

Unaudited Condensed Financial Statements for the 3 months ended 30th June 2023 Statement of directors' responsibilities

The Companies and Allied Matters Act requires the directors to prepare financial statements for each financial year that give a true and fair view of the state of financial affairs of the Company at the end of the year and of its profit or loss. The responsibility includes:

1. ensuring that the Company keeps proper accounting records that disclose, with reasonable accuracy, the financial position of the Company and comply with the requirements of the Companies and Allied Matters Act;
2. designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatements, whether due to fraud or error; and
3. preparing the Company's financial statements using suitable accounting policies supported by reasonable and prudent judgements and estimates that are consistently applied.

The directors accept responsibility for the unaudited condensed quartely financial statements, which have been prepared using appropriate accounting policies supported by reasonable and prudent judgements and estimates, in conformity with International Financial Reporting Standards and the requirements of the Companies and Allied Matters Act.

Nothing has come to the attention of the directors to indicate that the Company will not remain a going concern for at least twelve months from the date of this statement.

HRM Nnaemeka Alfred Achebe, CFR,MNI	Mr. David Tomlinson	Mr. Carlos Countino
Chairman	Director	Managing Director
FRC/2013/NIM/00000001568	FRC/2023/PRO/DIR/003/147669	FRC/2023/PRO/DIR/003/877967
28 July, 2023	28 July, 2023	28 July, 2023

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International Breweries Plc

Unaudited Condensed Financial Statements for the 3 months ended 30th June 2023 Statement of profit or loss

	Note
Revenue	3
Cost of sales	4
Gross profit
Administrative, Marketing and promotion expenses	4
Impairment charge on financial assets
Other expense	5
Finance income	6
Finance cost	6
Finance costs - net
(Loss)/Profit before tax
Income tax credit/(charge)
(Loss)/Profit for the period
Basic and diluted (loss)/earnings per share (Naira)	13

The notes on pages 9 to 12 are an integral part of these financial statements.

3 Months	6 Months	3 Months	6 Months
Apr - June	Jan - June	Apr - June	Jan - June
30 June 2023	30 June 2023	30 June 2022	30 June 2022
N'000	N'000	N'000	N'000
61,732,286	116,130,962	53,881,983	111,403,589
(47,361,082)	(92,113,683)	(41,228,502)	(78,795,714)
14,371,204	24,017,279	12,653,481	32,607,875
(12,719,067)	(22,673,120)	(12,617,187)	(24,723,449)
(56,039)	(155,985)	(42,311)	(76,491)
(33,314,240)	(35,881,808)	1,714,590	(2,400,017)
(31,718,142)	(34,693,634)	1,708,574	5,407,918
2,994,543	6,429,409	691,546	2,198,618
(8,591,786)	(13,168,968)	(2,432,186)	(5,782,168)
(5,597,243)	(6,739,559)	(1,740,640)	(3,583,550)
(37,315,385)	(41,433,193)	(32,066)	1,824,368
16,028,112	17,839,886	(352,899)	(1,488,167)
(21,287,273)	(23,593,307)	(384,965)	336,201
(0.79)	(0.88)	(0.01)	0.01

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