Company Intelligence — Overview
Tanzania Breweries
The dominant brewer, still growing into 2025
DSE: TBL · Dar es Salaam Stock Exchange · FY ending 31 Dec
~10,430
Market price · TZS/sh (May 26)
163.1 bn
FY24 profit after tax (audited)
+10%
FY25 revenue (interim)
66.2 bn
Q4’25 profit
692.0 bn
Equity · 31 Dec 25
~23%
Operating margin (interim)
The analysis — key observations
- Market leadership. The leading brewer in Tanzania with deep distribution and brand strength — a classic wide-moat consumer staple.
- 2025 momentum. Interim disclosures show revenue up ~10% and operating profit up ~17% (a 23.3% operating margin in Q3), with equity building to TZS 692.0bn by year-end.
- Cash generative. A consistent, substantial dividend payer — FY2024 profit after tax of TZS 163.1bn underpinned large distributions.
- Audited FY2025 pending. The interim trajectory is encouraging; a full read requires the audited annual report, due after year-end close.
FY2025 audited results are not yet published — figures combine the latest audited year (FY2024) with 2025 interim disclosures; this page refreshes when the FY2025 annual report is released.
Valuation context — TZS/share (illustrative, educational)
Illustrative framing for education only — not a price target or recommendation. A trailing P/E will be added once FY2025 audited EPS is published; until then figures mix audited FY2024 and 2025 interim disclosures.
Market backdrop — DSE & macro · mid-2026
3,950
DSE All-Share Index · 18 Jun 26
34.2 tn
DSE market cap · TZS
~6%
GDP growth
~3.3%
Inflation · stable macro
Key risks
Input costs & FX
Barley, packaging, and imported inputs expose margins to cost and currency moves.
Excise & regulation
Alcohol excise and regulation are the standing policy risks to volumes and pricing.
Reporting cadence
Audited FY2025 results pending — this overview refreshes on publication.