Shares of Beta Glass have surged 329% in the last six months, closing at N232.65 on Wednesday, as investors pile in on the company’s remarkable turnaround.
In the first quarter of 2025 alone, Beta Glass posted a 600 percent jump in profit after tax, driven by what its chief executive describes as a bold transformation strategy.
Alex Gendis, CEO of Nigeria’s biggest glass maker, has detailed how the company pulled off one of the most impressive earnings performances on the Nigerian Exchange so far this year — and how it plans to keep the momentum going.
The growth, according to Gendis, who spoke to BusinessDay, was powered by a sweeping overhaul of the business, launched in early 2023. Beta Glass streamlined its operations across its plants in Agbara, Ijebu Ode, and Ughelli, improving production efficiency and cutting energy costs, he said.
The company also doubled down on managing its cost base and expanding into fast-growing sectors such as food and beverage, pharmaceuticals, wine, and spirits.
“We appreciate that there is market volatility, and Beta Glass has put in place systems to position us well to continue driving our performance,” Gendis said. He projected “significant year-on-year growth and profitability.”
Looking ahead, Beta Glass plans to invest €17.5 million (about ₦31 billion) to rebuild one of its furnaces, boosting its capacity to serve growing demand both in Nigeria and across the region. The company now exports to over nine African countries, a move strengthened by the opportunities presented by the African Continental Free Trade Area (AfCFTA).
On shareholder returns, Gendis said the company would announce its dividend policy soon but stressed that management would balance rewarding shareholders with funding growth and expansion.
Beta Glass is also positioning itself as a sustainability leader. The company has installed solar power at its Agbara facility and increased the use of recycled glass in its products. It’s also working on lighter, durable glass bottles to cut costs and reduce environmental impact.
With demand for consumer products expected to rise as Nigeria’s population grows, Beta Glass is betting that glass — not plastic or metal — will drive the next phase of sustainable packaging in Africa.
(Exchange rate: €1 = N1781.20)
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