Bralirwa Reports 15.1% Increase in H1 Total Comprehensive Income to Rwf14.8 Billion

Rwanda’s leading beverage company, Bralirwa, has posted a 15.1 percent increase in profit and total comprehensive income for the first half of 2024, reaching Rwf14.8 billion compared to Rwf12.8 billion in the same period last year, according to an emailed statement from the company.

The company’s unaudited financials show that revenue increased by 19.1 percent, driven by a volume growth of 9 percent and strategic pricing adjustments to counter inflation. This revenue growth was also fueled by a 20.9 percent rise in the cost of sales, attributed to higher costs of raw and packaging materials in line with global inflationary and commodity trends.

“Increased selling and distribution costs rose by 22.8 percent during the period, driven by higher transportation costs and increased commercial expenses to boost market visibility and enhance consumer experience, supporting the growth of our brands,” the statement added.

Bralirwa’s operating result climbed to Rwf26 billion, compared to Rwf23 billion in the same period in 2023, as a result of strong topline performance, partly offset by higher input and operational costs.

“We experienced an increase in overall top-line results driven by improved mix and pricing strategies. Our focus on revenue and margin growth, cost-saving initiatives, and operational efficiencies significantly enhanced our operating results despite high input and energy cost inflation. Throughout 2024, we will continue to invest in our people, brands, capacity, sustainability, and digitalization to drive sustainable performance,” the Managing Director said in the statement.

Bralirwa’s net finance costs also increased by 28 percent due to higher short-term loans to support production capacity investment and increased foreign exchange costs following the depreciation of the Rwandan franc against major currencies.