KUALA LUMPUR – Heineken Malaysia Bhd and Carlsberg Brewery Malaysia Bhd both reported positive financial results for the first quarter of FY2024, indicating a robust start to the year for both companies despite challenging market conditions.
In a statement posted on Bursa today, Heineken said its revenue increased by 7% to RM789.17 million in the first quarter of (Q1) FY2024, compared to RM740.22 million in Q1 FY2023.
The company also saw a significant rise in profit-before-tax by 12%, reaching RM161.29 million, up from RM144.60 million in the same period last year.
Net profit also improved by 11%, totalling RM122.48 million compared to RM109.93 million in Q1 FY2023.
Roland Bala, Managing Director of Heineken Malaysia, expressed satisfaction with the company’s performance, attributing the success to the effective execution of their Chinese New Year campaign and strategic commercial initiatives.
“Coming out of a challenging year in 2023, we are pleased with the encouraging start to 2024.
“While our Q1 performance was positive, we remain cautious, in view of the volatile trading environment and macroeconomic concerns.
Bala said the company will continue to build on this momentum by focusing on its EverGreen priorities, emphasising superior growth, consumer-centricity, cost efficiency, sustainability, digitalisation and reinforcing a high-performance culture.
“We are grateful for the unwavering support from our business partners and consumers, which has been pivotal in navigating the complexities of the past year.”
“The success of our marketing investments, particularly the ‘Cheers to a Bolder Tomorrow’ Chinese New Year campaign led by Tiger Beer, has been instrumental in achieving top-line growth.
“This, along with innovative initiatives from the Heineken and Guinness brands, underscores our dedication to creating memorable experiences for our consumers.”
Meanwhile, yesterday, Carlsberg Malaysia reported a 9.9% increase in revenue to RM725.8 million for Q1 FY2024, up from RM660.2 million in Q1 FY2023.
Net profit grew by 3.4%, reaching RM87.9 million compared to RM85.0 million in the previous year.
The group’s profit from operations increased by 11.1% to RM121.1 million, also driven by strong sales during Chinese New Year and additional trade purchases ahead of a price increase in April 2024.
Carlsberg Malaysia managing director Stefano Clini attributed the strong performance to the success of the “Brewing Prosperity Together” campaign and strategic initiatives like the launch of Sapporo Premium Beer and 1664 Brut.
Clini emphasised the company’s commitment to premiumisation and innovation, along with sustained investment in mainstream beer markets.
The group’s earnings per share rose to 28.76 sen from 27.81 sen in Q1 FY2023. The board of directors announced a first interim dividend of 22 sen per share for the quarter.
“We had a commendable first quarter of the year mainly due to the encouraging sales during CNY in both Malaysia and Singapore as well as the recent additional trade purchases in March 2024, ahead of the price increase in April 2024 in Malaysia,” Clini said. – May 14, 2024