The Chief Financial Officer of Beta Glass, Ms Hélène Paradisi, on Thursday stated that the role of the company in fuelling economic growth is incontrovertible, adding that the company’s investments, totalling over ₦15.3 billion, have been instrumental in upgrading infrastructure, enhancing production capacity and maintaining the company’s competitive edge and leadership in the glass container manufacturing industry.
Paradisi made this know while giving a rundown of the company’s activities and growth over a period of five years, adding that Beta Glass has long stood as a beacon of excellence in the glass container manufacturing industry across West and Central Africa with an unwavering commitment to innovation, sustainability and economic growth.
According to her, from its strategically located manufacturing facilities in Nigeria’s Delta and Ogun States, the company has consistently delivered high-quality products while achieving sustainable financial performance.
“At these locations, the Company operates three furnaces, which gives Beta Glass the significant competitive advantage of being able to produce glass in three colours simultaneously: Flint, Amber and Green. Over the past five years, the company has greatly expanded its production capabilities, significantly contributing to the Nigerian economy and community.
Speaking on the company’s financial performance between 2019 to 2023, Paradisi said Beta Glass has experienced significant financial growth, reinforced by its strong revenue figures and capital expenditures (Capex) during this five-year period, reflecting the company’s efforts to expand and modernise its operations.
“Over the last five years, Beta Glass Plc has demonstrated consistent financial growth and resilience, reflecting its solid position in the glass container manufacturing industry. From 2019 to 2023, the Company saw its revenue (VAT inclusive) surge by over 118%, climbing from ₦30.77 billion in 2019 to ₦67.36 billion in 2023. This significant revenue growth indicates increased demand for its products and the Company’s ability to adapt to market trends and expand its market share across key sectors.
“Gross profit followed a similarly upward trajectory, growing from ₦7.81 billion in 2019 to ₦12.39 billion in 2023, underscoring Beta Glass’ focus on operational efficiency and cost management. We haveconsistently maintained a solid operating profit in terms of profitability, with a peak of ₦7.85 billion in 2021; we closed 2023 with a profit before taxation of ₦9.44 billion, highlighting its robust financial health despite market volatility.
“This growth has positively impacted shareholders, as reflected in the steady rise in shareholder equity, which reached ₦52 billion in 2023, up from ₦34.56 billion in 2019. Our income tax contributions demonstrate our role as a responsible corporate citizen. In 2023, the Company paid ₦2.71 billion in income tax, up from ₦2.67 billion in 2019. These taxes contribute to Nigeria’s fiscal budget, helping to fund essential public services and infrastructure development.
“Consistent tax payments from companies like Beta Glass are critical to supporting economic stability, boosting government revenue, and fostering sustainable growth in the Nigerian economy. The company has been consistently expanding the workforce, thereby contributing to job creation and economic stability. The progress is evident in the Company’s employee headcount growth, which increased from 1,183 employees in 2019 to approximately 1,400 in 2024,” she said.
She emphasised that the steady increase in employment underscores the Company’s role as a significant employer in the region, currently providing stable and rewarding job opportunities for more than 1,400 individuals – most of whom are recruited from the local communities hosting the Beta Glass facilities, adding that Beta Glass’ 50-year journey in Nigeria highlights its strategic growth, operational excellence, and positive community impact.
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