Malaysia: Carlsberg Brewery Malaysia reports higher Q3 earnings

Carlsberg Brewery Malaysia Bhd (Carlsberg Malaysia) remains cautious as it navigates an uncertain macroeconomic landscape amid external headwinds and subdued consumer sentiment, The Star reported on November 13.

In a filing with Bursa Malaysia, the brewery said it anticipates the recent excise duty increase may soften consumer demand in the short term and potentially lead to a rise in illicit alcohol consumption, which could in turn impact legitimate industry sales and reduce government tax revenue.

For its third quarter ended Sept 30, 2025, Carlsberg Malaysia’s net profit rose to RM103.03mil from RM90.96mil in the previous corresponding period, while revenue grew to RM583.37mil from RM555.93mil a year earlier.

Carlsberg Malaysia said the improved performance for the quarter is attributed to the increase in trade purchases in Malaysia, ahead of the price adjustment that took place in September 2025.

“Meanwhile, Singapore operations continue to be impacted by soft consumer sentiment which has led to weaker sales, especially on the more profitable on-trade business.

“This, along with the strengthening of the ringgit against the Singapore dollar, led to a declining organic performance.”

However, Carlsberg Malaysia said Singapore operations registered higher revenue and profit from operations due to one-off trade offer adjustments.

The group’s Sri Lankan-based associate company Lion Brewery (Ceylon) PLC recognised a higher share profit of RM11.1mil in the third quarter of 2025, compared with RM9mil a year earlier due to improved revenue.

The group’s earnings per share during the quarter under review stood at 33.70 sen compared to 29.75 sen in the previous corresponding period.

Carlsberg Malaysia announced a third interim dividend of 25 sen per share for the third quarter ended Sept 30, 2025, bringing the cumulative interim dividend to 68 sen per share for financial year 2025.

For the nine-month period ended Sept 30, 2025, Carlsberg Malaysia’s net profit improved to RM279.48mil from RM258.29mil in the previous corresponding period.

However, revenue dipped to RM1.74bil compared with RM1.79bil a year earlier, due to the shorter Chinese New Year timing, as part of the festive sales had been captured in December 2024, coupled with the weakening consumer sentiment.