Malaysia: Heineken Malaysia’s net profit for the first quarter largely unchanged from a year earlier

Heineken Malaysia Bhd reported a net profit of RM122.15 million for the first quarter ended March 31, 2025 (1QFY2025), largely unchanged from RM122.48 million a year earlier, supported by lower interest expenses, effective cost control and improved financial efficiency following the Chinese New Year (CNY), The Edge Malaysia reported on May 6.

Quarterly revenue fell 3.24% to RM763.63 million from RM789.17 million a year earlier, mainly due to the timing of the Chinese New Year, with sales largely recognised in 4QFY2024 and a subsequent normalisation in post-festive demand, according to its Tuesday’s bourse filing. Earnings per share declined slightly to 40.44 sen from 40.54 sen.

The brewer did not declare any dividend for the current review quarter.

"As we move forward, we expect consumer sentiment to be influenced by inflationary pressures and ongoing global economic uncertainties driven by the tariffs-driven and escalating geopolitical trade tensions, which may affect consumer confidence and spending behaviour," Heineken Malaysia managing director Martijn van Keulen said in a separate bourse filing.

"We will continue to navigate the dynamic landscape with agility, driving top line 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," he added.

Meanwhile, Heineken Malaysia applauded the government's decision to maintain beer excise duties in its latest budget, as higher duties would boost illicit alcohol demand and in turn impact the group's revenue.

Heineken Malaysia closed up 1.1% or 30 sen higher at RM26.80 on May 6, giving the group a market capitalisation of RM8.10 billion. The counter has increased 8.24% so far this year.

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