Skip to content
The African Exponent DATA
Resources

Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

TBL

TBL · Dar es Salaam Stock Exchange · Incorporated in Tanzania · Consolidated statements

On this page
Company details
Legal name
Tanzania Breweries Public Limited Company
Incorporated in
Tanzania
Listing
TBL on the Dar es Salaam Stock Exchange, active (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · annual report, signed / final · source

  • Revenue

    TZS 1.66 trillion

    1,657,831 TZS millions · p71

    +13.0% vs 2024

  • Operating profit / (loss)

    TZS 373 billion

    373,128 TZS millions · p71

    +35.3% vs 2024

  • Profit / (loss) for the year

    TZS 236 billion

    236,047 TZS millions · p71

    +44.8% vs 2024

  • Total assets

    TZS 1.16 trillion

    1,162,812 TZS millions · p73

    −14.6% vs 2024

  • Total equity

    TZS 665 billion

    664,879 TZS millions · p73

    −24.7% vs 2024

  • Cash from operations

    TZS 178 billion

    178,217 TZS millions · p76

    −29.0% vs 2024

Large amounts are rounded for reading (TZS million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in TZS millions unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2025 — annual report, signed / final; reported for the year · source
  • FY2024 — annual report, signed / final; comparative in the FY2025 filing · source
  • FY2023 — annual report, signed / final; comparative in the FY2024 filing · source

Income statement

Income statement, TZS millions. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingFY2023Annual reportcomparative in FY2024 filing
Revenue from contracts with customers 1,657,831 1,467,458 1,272,254
Cost of sales (1,027,508) (949,390) (836,419)
Gross profit 630,323 518,068 435,835
Selling and distribution costs (138,397) (131,216) (114,580)
Administrative expenses (109,149) (92,843) (75,610)
Impairment losses on financial assets 908 (3,152) (562)
Other income –1 –1 Not reported in this filing2
Other expenses (10,557) (15,135) Not reported in this filing3
Operating profit 373,128 275,722 224,200
Finance income 27,030 29,129 27,564
Finance cost (32,085) (73,204) (32,964)
Net finance cost4 (5,055) (44,075) (5,400)
Profit before income tax 368,073 231,647 218,800
Income tax expense (132,026) (68,573) (75,224)
Profit for the year from continued operations5 236,047 163,074 143,576
Loss from discontinued operations (attributable to equity holders of the company)6 –7 (76) (116)
Profit for the year 236,047 162,998 143,460
- Non-controlling interests8 32,352 32,154 14,679
Gain (Loss) on re-measurement of defined benefit plan9 (562) 567 (735)
Deferred tax on re-measurement10 168 (170) 221
Total other comprehensive income (394) 397 (514)
Total comprehensive income 235,653 163,395 142,946
- Owners of the parent11 203,313 131,239 128,267
- Non-controlling interests12 32,340 32,156 14,679
Other (expenses)/income13 Not reported in this filing14 Not reported in this filing1615 (20,999)
  1. Printed “-”, read as nil: subtotal_arithmetic: is.operating_profit.
  2. Printed “-”, read as nil: subtotal_arithmetic: is.profit_for_year.
Notes and alternative reported figures (14)
  1. Not reported in this filing: Not reported separately: included in 'Other (expenses)/income' (p61), which the FY2024 consolidated statement of profit or loss prints as a single net line (Group 2023 (20,999), already transcribed). No separate 'Other income' line appears on the statement (p61) or the statement of other comprehensive income (p62). Checked on the page image (p61).
  2. Not reported in this filing: Not reported separately: included in 'Other (expenses)/income' (p61), which the FY2024 consolidated statement of profit or loss prints as a single net line (Group 2023 (20,999), already transcribed). No separate 'Other expenses' line appears on the statement (p61) or the statement of other comprehensive income (p62). Checked on the page image (p61).
  3. “Net finance cost” is an issuer-specific line, not mapped to a shared definition: Finance income plus finance cost (note 10), as printed.
  4. “Profit for the year from continued operations” is an issuer-specific line, not mapped to a shared definition: Profit after income tax from continuing operations.
  5. “Loss from discontinued operations (attributable to equity holders of the company)” is an issuer-specific line, not mapped to a shared definition: Note 37: attributable to equity holders of the company.
  6. “- Non-controlling interests” is an issuer-specific line, not mapped to a shared definition: Attribution of profit for the year.
  7. “Gain (Loss) on re-measurement of defined benefit plan” is an issuer-specific line, not mapped to a shared definition: Note 28: OCI item not reclassified to profit or loss.
  8. “Deferred tax on re-measurement” is an issuer-specific line, not mapped to a shared definition: Tax on the OCI remeasurement.
  9. “- Owners of the parent” is an issuer-specific line, not mapped to a shared definition: Note 25: attribution of total comprehensive income.
  10. “- Non-controlling interests” is an issuer-specific line, not mapped to a shared definition: Note 25: attribution of total comprehensive income.
  11. “Other (expenses)/income” is an issuer-specific line, not mapped to a shared definition: Note 9: one net line in FY2024 (FY2025 prints other income and other expenses separately).
  12. Not reported in this filing: Not printed: the FY2025 consolidated statement of profit or loss (p71) prints no net 'Other (expenses)/income' line; it prints 'Other income' and 'Other expenses' as two separate lines (Group 2025: - and (10,557)), already transcribed under their own concepts. Checked on the page image (p71).
  13. Annual report dated 2025-06-20 presents this line for this year: (15,135) (p61). Not shown in this column, which follows one filing's presentation.
  14. Not reported in this filing: Not printed: the FY2025 consolidated statement of profit or loss (p71) prints no net 'Other (expenses)/income' line; it prints 'Other income' and 'Other expenses' as two separate lines (Group 2024: - and (15,135)), already transcribed under their own concepts. Checked on the page image (p71).

Balance sheet

Balance sheet, TZS millions. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingFY2023Annual reportcomparative in FY2024 filing
Property, plant and equipment 445,458 470,044 482,163
Intangible assets 42,209 42,077 42,696
Right-of-use assets 13,382 17,400 12,304
Deferred income tax asset 22,545 16,700 11,994
Investments1 88 88 88
Non-current assets (unlabelled subtotal) 523,682 546,309 549,245
Inventories 168,600 134,673 112,454
Trade and other receivables 256,161 129,401 99,336
Current income tax receivable –2 –2 291
Restricted bank balance3 38,300 38,300 38,300
Cash and cash equivalents 176,069 512,530 524,919
Current assets (unlabelled subtotal) 639,130 814,904 775,300
Total assets 1,162,812 1,361,213 1,324,545
Share capital 29,506 29,506 29,506
Share premium 45,346 45,346 45,346
Retained earnings 487,538 655,700 682,906
Other reserves 66,643 66,643 66,643
Capital and reserves attributable to owners of the parent (unlabelled subtotal) 629,033 797,195 824,401
Non-controlling interests 35,846 85,414 53,258
Total equity 664,879 882,609 877,659
Lease liability 7,483 7,038 5,342
Employee benefit obligations4 4,418 3,234 3,519
Non-current liabilities (unlabelled subtotal) 11,901 10,272 11,765
Provisions 25,356 25,674 25,565
Trade and other payables 441,191 430,079 401,544
Current income tax payable 11,917 1,363 –5
Lease liability 7,568 11,216 8,012
Current liabilities (unlabelled subtotal) 486,032 468,332 435,121
Total liabilities 497,933 478,604 446,886
Total equity and liabilities 1,162,812 1,361,213 1,324,545
Deferred income tax liability Not reported in this filing6 Not reported in this filing87 2,904
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.current_assets.
  2. Printed “-”, read as nil: subtotal_arithmetic: bs.current_liabilities.
Notes and alternative reported figures (6)
  1. “Investments” is an issuer-specific line, not mapped to a shared definition: Note 17: non-current investments.
  2. “Restricted bank balance” is an issuer-specific line, not mapped to a shared definition: Note 22: current asset, outside cash and cash equivalents.
  3. “Employee benefit obligations” is an issuer-specific line, not mapped to a shared definition: Note 28: non-current liability.
  4. Not reported in this filing: Not printed: the FY2025 consolidated statement of financial position (p73) has no deferred tax liability line for 2025; non-current liabilities are 'Lease liability' and 'Employee benefit obligations', and only 'Deferred income tax asset' (Group 2025 22,545; 2024 16,700) appears. Checked on the page image (p73).
  5. Annual report dated 2025-06-20 presents this line for this year: - (p63). Not shown in this column, which follows one filing's presentation.
  6. Not reported in this filing: Not printed: the FY2025 consolidated statement of financial position (p73) has no deferred tax liability line for 2024; non-current liabilities are 'Lease liability' and 'Employee benefit obligations', and only 'Deferred income tax asset' (Group 2025 22,545; 2024 16,700) appears. Checked on the page image (p73).

Cash flow

Cash flow, TZS millions. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingFY2023Annual reportcomparative in FY2024 filing
Cash generated from operations 317,085 327,383 335,865
Interest paid excluding lease (10,082) (1,558) (947)
Income tax paid (128,786) (74,699) (88,351)
Net cash inflow from / (out flow to) operating activities1 178,217 251,126 246,543
Payment of property, plant and equipment and intangible assets23 (70,677) (88,384) (87,530)
Dividend received4 –5 –5 Not reported in this filing6
Proceeds from disposal of plant 77 53 682
Interest received 27,030 29,129 27,589
Net cash (outflow to) / inflow from investing activities7 (43,570) (59,202) (59,259)
Dividends paid to owners of the parent (371,475) (171,534)8 (759)
Dividends paid to non-controlling interests9 (81,908) –10 Not reported in this filing11
Principal lease payment (10,978) (11,166) (10,858)
Interest on lease payment12 (2,991) (2,811) (2,345)
Net cash outflow to financing activities13 (467,352) (185,511)14 (13,962)
Net (decrease)/ increase in cash and cash equivalents15 (332,705) 6,41316 173,322
Cash and cash equivalents at beginning of the year 512,530 524,919 361,569
Effects of exchange rate changes on cash and cash equivalents (3,756) (18,802)17 (9,972)
Cash and cash equivalents at the end of the year 176,069 512,530 524,919
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (15)
  1. Printed under different labels across filings: “Net cash inflow from / (out flow to) operating activities”; “Net cash inflow from operating activities”.
  2. “Payment of property, plant and equipment and intangible assets”: mapping to a shared definition is uncertain. One printed line combines property, plant and equipment with intangible assets.
  3. Printed under different labels across filings: “Payment of property, plant and equipment and intangible assets”; “Purchase of property, plant and equipment and intangible assets”.
  4. “Dividend received” is an issuer-specific line, not mapped to a shared definition: Investing (nil in the Group columns).
  5. Not reported in this filing: Not printed: the FY2024 consolidated statement of cash flows (p66) has no 'Dividend received' line; its investing lines are 'Purchase of property, plant and equipment and intangible assets', 'Proceeds from disposal of plant' and 'Interest received'. Checked on the page image (p66).
  6. Printed under different labels across filings: “Net cash (outflow to) / inflow from investing activities”; “Net cash outflow from investing activities”.
  7. Annual report dated 2025-06-20 prints (171,533) (millions, p66) for this line and year.
  8. “Dividends paid to non-controlling interests” is an issuer-specific line, not mapped to a shared definition: Financing.
  9. Not reported in this filing: Not printed: the FY2024 consolidated statement of cash flows (p66) has no 'Dividends paid to non-controlling interests' line; its financing lines are 'Dividends paid to owners of the parent' ((759) for 2023), 'Principal lease payment' and 'Lease payment'. Checked on the page image (p66).
  10. Printed under different labels across filings: “Interest on lease payment”; “Lease payment”.
  11. Printed under different labels across filings: “Net cash outflow from financing activities (printed 'Net cash outflow from investing activities')”; “Net cash outflow to financing activities”.
  12. Annual report dated 2025-06-20 prints (185,510) (millions, p66) for this line and year.
  13. Printed under different labels across filings: “Net (decrease)/ increase in cash and cash equivalents”; “Net increase/(decrease) in cash and cash equivalents”.
  14. Annual report dated 2025-06-20 prints 6,414 (millions, p66) for this line and year.
  15. Annual report dated 2025-06-20 prints (18,803) (millions, p66) for this line and year.

Per share and shares

Per share and shares. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingFY2023Annual reportcomparative in FY2024 filing
Earnings / (loss) per share (per share)1 689 445 435
Profit / (loss) attributable to shareholders (TZS millions)2 203,695 130,844 128,790
Notes and alternative reported figures (2)
  1. Earnings / (loss) per share: printed as “Basic Earnings per share (TZS)”.
  2. Profit / (loss) attributable to shareholders: printed as “- Owners of the parent”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2025 Dividends paid (cash flow statement) Dividends paid to owners of the parent (371,475) TZS millions Annual report, p76
31 Dec 2024 Dividends paid (cash flow statement) Dividends paid to owners of the parent (171,534) TZS millions Annual report, p76
31 Dec 2023 Dividends paid (cash flow statement) Dividends paid to owners of the parent (759) TZS millions Annual report, p66

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • TBL Plc - Annual Report and Financial Statements 2025

    Year ended 31 December 2025 · Annual report · signed / final

    Audit: PricewaterhouseCoopers, Certified Public Accountants, Dar es Salaam, unmodified opinion · signed

    Auditor's sign-off: Cletus B. Kiyuga, ACPA PP 1981, for and on behalf of PricewaterhouseCoopers

    Final status: Independent auditor's report (PDF pp67-70) with an unmodified opinion ('give a true and fair view') on the consolidated financial statements on pages 71 to 133; on p70 a handwritten signature over 'Cletus B. Kiyuga, ACPA PP 1981, For and on behalf of PricewaterhouseCoopers, Certified Public Accountants, Dar es Salaam' with the handwritten date '29 June 2026' (page image). The statement of financial position states approval by the board of directors on 29/06/2026 and is signed by hand above 'Ambassador Ami R. Mpungwe, Interim Chairman' (one signature shown; PDF p73, page image). The opinion covers the consolidated statements; the Company columns are printed beside them.

    Document date
    29 Jun 2026
    Published
    15 Jul 2026
    Auditor's report
    29 Jun 2026
    Board approval
    29 Jun 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    consolidated statements · TZS millions (printed “Million Tanzania Shillings”)
    • The profit attribution on p71 is followed by a breakdown of profit attributable to owners into continuing and discontinued operations (and the same on p72 for total comprehensive income); the breakdowns are not transcribed. EPS is printed on the statement of other comprehensive income (p72), from continuing operations only.
    • The statement of financial position prints the non-current assets, current assets, equity attributable to owners, non-current liabilities and current liabilities subtotals without labels (p73).
    • Interest received is presented in investing activities and lease interest in financing activities; interest paid excluding lease is in operating activities (p76).
    Technical details
    File
    136 pages, with a text layer
    SHA-256
    28e54baf1920f764a8dbbcbb806a412c833484236cc69eeef59cb121d082cb1f
    Entity as printed
    Tanzania Breweries Public Limited Company and its subsidiaries (the Group)
    Exchange copy
    retrieved 2026-10-08T18:09:43Z

  • TBL Plc - Annual Report and Financial Statements 2024

    Year ended 31 December 2024 · Annual report · signed / final

    Audit: PricewaterhouseCoopers, Certified Public Accountants, Dar es Salaam, unmodified opinion · signed

    Auditor's sign-off: Cletus Kiyuga, ACPA 1981, for and on behalf of PricewaterhouseCoopers

    Final status: Independent auditor's report (PDF pp57-60) with an unmodified opinion ('give a true and fair view') on the consolidated financial statements on pages 61 to 123; on p60 a handwritten signature over 'Cletus Kiyuga, ACPA 1981, For and on behalf of PricewaterhouseCoopers, Certified Public Accountants, Dar es Salaam', 'Date: 20/06/2025' (printed; page image). The statement of financial position states approval by the board of directors on 19/06/2025 and is signed by hand above 'Leonard Mususa, Chairman' (one signature shown; PDF p63, page image).

    Document date
    20 Jun 2025
    Auditor's report
    20 Jun 2025
    Board approval
    19 Jun 2025
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2023
    Basis
    consolidated statements · TZS millions (printed “Million Tanzania Shillings”)
    • 2023 comparatives do not add up as printed (checked on the renders): operating profit 224,200 against 224,084 from the printed lines (gross profit 435,835 less 114,580, 75,610, 562 and 20,999), a difference of 116 (p61); net cash inflow from operating activities 246,543 against 246,567 from the printed lines (335,865 less 947 and 88,351), a difference of 24 (p66). Figures kept as printed; the 2024 column agrees.
    • The cash-flow statement (p66) closes the financing section with a total labelled 'Net cash outflow from investing activities' ((185,510); 2023: (13,962)); it is the financing total (operating 251,126 less investing 59,202 less 185,510 gives the printed net increase 6,414). The lease-interest line is printed '• Lease payment'.
    • The profit attribution on p61 is followed by a breakdown of profit attributable to owners into continuing and discontinued operations (and the same on p62 for total comprehensive income); the breakdowns are not transcribed. EPS is printed on the statement of other comprehensive income (p62), from continuing operations only.
    • The statement of financial position prints the non-current assets, current assets, equity attributable to owners, non-current liabilities and current liabilities subtotals without labels (p63).
    • Interest received is presented in investing activities and lease interest in financing activities; interest paid excluding lease is in operating activities (p66).
    Technical details
    File
    128 pages, with a text layer
    SHA-256
    1ffddad2fa32ab402ef461d4fb715d1a5791bd98b64ef5562ab14d57a2d736fe
    Entity as printed
    Tanzania Breweries Public Limited Company and its subsidiaries (the Group)
    Exchange copy
    retrieved 2026-10-08T18:17:08Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

Download

Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

Tanzania country page · Company methodology and coverage