Vitafoam Nigeria (VITAFO.ng)

Vitafoam Nigeria Plc, Headquarters: Ikeja, Lagos, Nigeria

Industry: Manufacturing and Distribution of Polyurethane Foam Products, Bedding, Furniture, and Automotive Components.

Vitafoam Nigeria Plc is Nigeria’s foremost manufacturer of flexible, reconstituted, and rigid foam products. The Group specialises in the manufacturing, marketing, and distribution of a comprehensive range of products, including foam and spring mattresses, advanced insulation solutions, fibre and textile-based items, furniture, and vehicle oil filters. The company leverages the country’s largest foam manufacturing and distribution network to ensure efficient, just-in-time delivery across Nigeria and the West African sub-region, with expansion into Sierra Leone, Guinea, and Liberia. The Group’s integrated operations serve diverse sectors, including real estate, healthcare, hospitality, agriculture, oil and gas, automotive, and general consumer markets.

The company maintains its position as a market leader by evolving into a full-service comfort solutions provider, offering a broad spectrum of household bedding and durable hard furniture through its nationwide network of Comfort Centres. Vitafoam’s strong commitment to quality has earned multiple industry recognitions, including several Gold Certificate Awards, and it was the first foam manufacturing company in Nigeria to obtain NIS ISO 9002 certification in 2001.

The average number of persons employed by the Group during the year was 681 (an increase from 666 in the prior year), comprising 194 Management and 487 Non-management staff. The company focuses on attracting and retaining highly motivated and talented personnel to ensure sustainable growth.

Financial Highlights (Group, Year Ended 30 September 2025)

The Group delivered exceptional financial performance for the year ended 30 September 2025 (extracted from the Consolidated and Separate Financial Statements for the year ended 30 September 2025).

• Group Revenue increased by 35% to N111,379,338,000.
• Profit before income tax saw a significant rise of 1775% to N21,480,472,000.
• Profit for the year grew by 1427% to N14,537,221,000.

Mission Statement: Our policy is to continually manufacture, distribute and sell polyurethane/reconstituted foam and allied products that conform to international standards, applicable statutory, regulatory and other requirements as well as surpass customers’ expectations at a price that represents value.

Key Financial Figures (Group, 2025)

• Revenue: N111,379,338,000
• Profit before income tax: N21,480,472,000
• Profit for the year: N14,537,221,000
• Total Equity: N35,554,461,000
• Basic Earnings per share: N10.80 (an increase from N0.29 in 2024)
• Proposed Dividend per share: N3.00

Sustainability Focus

Vitafoam is committed to responsible corporate activities, environmental care, and Occupational Health and Safety (OHS) at the workplace. The company adheres to global best practices and maintains a strong corporate governance culture.

• Environmental Responsibility: The company’s Environmental Management Plan includes filtering exhaust gases using fume extractors and activated carbon filters. Notably, foam scraps, which constitute 98% of solid waste, are recycled for reuse in orthopaedic and hospital mattress production. Waste oils from servicing generators are reused as mold degreasers in batch foaming operations. The company has also achieved a significant decrease in energy consumption through the installation of energy-saving bulbs.
• Social Impact: Corporate Social Responsibility (CSR) efforts target healthcare and education. Initiatives include providing material support to hospitals and orphanages, offering industrial attachments (SIWES) and management trainee schemes for students and graduates, and a non-discrimination policy for employees with HIV/AIDS or any other form of disability.
• Corporate Governance: The business is driven by a culture of integrity, accountability, and transparency, ensuring compliance with all relevant laws and regulations. The Board of Directors oversees compliance with good corporate governance practices and statutory enactments.