Heineken Malaysia delivers steady quarterly performance
In the first quarter, the group experienced a slight decline in revenue by 3% compared to the same quarter in 2024. The decrease is primarily influenced by the timing of Chinese New Year (CNY), with this year's festive period occurring in January, resulting in an earlier sell-in activity that took place in the fourth quarter of last year. Despite the slight decline in revenue in Q1'25, the group maintained steady profit before tax (PBT) of RM161 million and net profit of RM122 million, demonstrating strength and stability.
Managing director Martijn van Keulen (pix) said, 'Our performance this quarter was impacted by an earlier CNY and post-festive demand normalisation. We are resilient in maintaining our profitability, and it reflects our disciplined cost management and focus on financial efficiency. As we build momentum for 2025, we will continue our growth journey through our EverGreen strategy. This strategy is anchored on driving superior growth with a cost-conscious mindset, catering to evolving consumer preferences, embedding sustainability into our operations, investing in becoming the best-connected brewer, and most importantly, unlocking the potential of our people.'
On outlook, Martijn shared, 'As we move forward, we anticipate that consumer sentiment will be shaped by inflationary pressures and ongoing global economic uncertainties, particularly those arising from tariff-related issues and escalating geopolitical trade tensions, which could impact consumer confidence and spending patterns. Nevertheless, we will continue to navigate the dynamic landscape with agility, driving topline growth through targeted commercial initiatives while maintaining disciplined cost control and operational efficiency to sustain healthy margins. We will continue to future-proof the business, as we execute our EverGreen strategy in navigating the evolving external environment.'
The board of directors does not recommend any dividend in respect of the quarter ended.
In 2024, the group paid RM1.45 billion in taxes, representing 52% of its total revenue. The excise duty is one of the highest in the world. This highlights Heineken Malaysia's contribution to the economy and creating value for the country and its people.
The group applauds the government's decision to maintain excise duties on beers in Budget 2025, as any hike in excise rates will drive greater demand for illicit alcohol. Heineken Malaysia regards illicit alcohol as a serious issue and remains committed to supporting the government in mitigating illicit trade through holistic efforts, including enforcement collaboration and raising greater awareness in the market.
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