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CASTLE MALTING NEWS in partnership with www.e-malt.com French
19 April, 2023



Brewing news Malaysia: Carlsberg Brewery Malaysia expects this year to remain challenging

Carlsberg Brewery Malaysia Bhd expects this year to remain challenging as a result of the global recession, escalating commodity prices and rising local and global inflationary pressure, the New Straits Times reported on April 19.

Managing director Stefano Clini said as a result, the group might see a softer demand in the local market as concerns on elevated costs of living and lower disposable income would affect consumer spending.

Carlsberg closed its financial year 2022 (FY22) with record revenue of RM2.4 billion and record net profit of RM317 million as it thrived in business recovery, premiumisation and revenue management.

Clini said as Carlsberg evolved to a new five-year corporate strategy (SAIL'27), the group remained steadfast in its commitment to brewing excellence and sustainability, while it gets ready to face the headwinds ahead due to subdued consumer sentiment resulting from the rising cost of living.

Commenting on last year's performance, Clini noted that 2022 was a significant year as the group celebrated its 175th birthday globally amid business recovery back to pre-pandemic levels. "Our focus on efficiencies into premiumisation, relentless value management and capital allocation towards sustainability helped us to deliver a positive financial performance, and also create value for our stakeholders," he said during Carlsberg's 53rd annual general meeting (AGM) here today.

Nevertheless, Clini said the group managed to return to growth in mainstream products last year.

He highlighted that the positive sales growth was driven by on-trade consumption, Chinese New Year and Harvest celebration promotions with limited-edition packaging, as well as football campaigns.

Clini added that Carlsberg saw continued growth in its premium portfolio, with an increase of 32 per cent in sales.

The growth was underpinned by continued investment behind premiumisation and innovation, better premium mix and launch of new variant in its Somersby line, while Connor's Stout Porter continues to grow strongest, amongst premium brands.

"We also saw an increase of 177 per cent in sales for our alcohol-free brews (AFBs) last year. This was a two-fold growth from to lower base against FY21. It is our commitment to promote responsible drinking and offer a growing range of AFBs to our customers and consumers in every country where we operate," he said.

However, Clini noted that the group saw a marginal nine per cent decline in e-commerce sales due to channel shift to on-trade as dine-in restrictions were lifted.

On the sustainability front, Clini said the group had evolved to an enhanced environmental, social and governance (ESG) programme, Together Towards Zero and Beyond (TTZAB), which addresses a broader set of material ESG topics through a more holistic approach.

He added that the group had made significant progress in reducing its environmental footprint, with water consumption reducing from 4.0 hectolitre (hl) water per hl beer to 3.4hl water per hl beer for the year 2022 against 2021 and achieving zero waste to landfill status since November 2022.

"The group has taken concrete steps towards reducing packaging waste, and one of the recent campaigns was CarlsBot, a glass bottle recycling and community empowerment programme in East Malaysia.

"The Malaysia operations have also completed the brewery upgrade of RM108 million capital expenditure (capex) that sets to deliver greater production automation, meet packaging complexities, and reduce energy and water consumptions while providing a more conducive work environment," he said.

Carlsberg has received a Morgan Stanley Capital International (MSCI) ESG ratings of "AA" and rated 'A' from the Carbon Disclosure Project (CDP) for transparency and action on climate.





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