Cervejas de Moçambique (CDM) increased its profits by 51.7% in 2025 to 2.588 billion meticais (€36.3 million), according to the company’s annual report and accounts.
According to the document, this compares with a net profit of 1.706 billion meticais (€24 million) in the previous year. Sales in 2025 enabled the brewer to achieve a gross profit of 10.8 billion meticais (€151.4 million), up from 8.4 billion meticais (€117.1 million) recorded in 2024.
The company’s turnover also grew by 16.9% to 26.670 billion meticais (€374 million) in 2025.
CDM decided to distribute dividends of 8.15 meticais per share (€0.11), corresponding to a total of 1.292 billion meticais (€18.1 million), more than double the 520 million meticais (€7.3 million) distributed in respect of the previous financial year.
Cervejas de Moçambique is part of the Belgian AB InBev group, which holds 83.01% of its share capital. The Mozambican state, with a 1.37% stake, and the National Social Security Institute (INSS), with 2.6%, are also shareholders.
Considered one of the country’s largest companies, CDM was established on 1 August 1995 following the privatisation of the MacMahon and Manica breweries, in Maputo and Beira, respectively. The company currently owns some of the best-known beer brands on the Mozambican market, including the historic Laurentina and 2M.
Despite the improvement in results, the company identifies several business risks in its report, particularly difficulties in accessing foreign currency on the Mozambican market. It states that the limited availability of foreign exchange could affect its ability to secure the imports required for its production process in a timely manner.
The brewer also points to its dependence on raw materials, packaging materials and finished products purchased abroad, including from AB InBev group companies, leaving it exposed to international supply-chain constraints and exchange-rate fluctuations.
The company adds that it remains exposed to the US dollar, the euro and the South African rand, currencies used in a significant proportion of its import transactions.
The 2025 accounts also show a substantial strengthening of the company’s financial position, with cash and cash equivalents increasing from 6.877 billion meticais (€96.4 million) at the end of 2024 to 17.349 billion meticais (€243.4 million).
The company, which dominates Mozambique’s beer market, is primarily engaged in the production, distribution and sale of beer and other beverages.
CDM’s portfolio also includes Impala beers, made from cassava and maize, launched in 2011 and 2017. These benefit from a special tax regime intended to encourage the use of domestic agricultural raw materials.
According to the company, the Impala brand is a project with a significant socio-economic impact on the agricultural sector, involving more than 6,000 small-scale Mozambican farmers and around 190,000 people across its value chain.
Laurentina Clara, considered the first beer produced in Mozambique, was launched in 1932 by a Greek immigrant who founded the Vitória brewery. The MacMahon brewery was inaugurated in Maputo in 1950, giving rise to the 2M brand. Five years later, the Manica brewery was established in Beira.
Mozambique’s brewing industry was reorganised in 1972 through the creation of Sogere – Sociedade Geral de Cervejas e Refrigerantes de Moçambique, formed through the association of several domestic producers, including the MacMahon and Manica breweries and Cervejas Reunidas, which owned the Laurentina brand. This structure was subsequently nationalised after the country’s independence.
Source: Lusa