Financial Performance Highlights
- Revenue: +6% to RM2.80 billion (FY23: RM2.64 billion)
- Profit Before Tax (PBT): +14% to RM584.3 million (FY23: RM510.9 million)
- Net Profit: +21% to RM466.7 million (FY23: RM386.8 million) – Highest in Group history
- Dividend: Proposed final 115 sen per share, bringing total FY24 dividend to 155 sen per share
Heineken Malaysia Berhad (HEINEKEN Malaysia) has delivered a strong financial performance in FY24, achieving its highest-ever net profit, fueled by strategic commercial execution, cost management, and a rebound in consumer confidence.
A key driver of profitability was the recognition of deferred tax income linked to reinvestment allowances, reducing the effective tax rate. Revenue growth was further supported by an extended festive sales period and strong demand leading up to Chinese New Year 2025.
4QFY24 Momentum: Year-End Sales Surge
- Revenue: +13% to RM823.1 million (4QFY23: RM728.4 million)
- Profit Before Tax: +32%
- Net Profit: +42%
The fourth quarter surge was driven by robust year-end festive demand, as CNY 2025 fell closer to the year-end, accelerating pre-holiday sales. Effective cost and value management, alongside the deferred tax impact, further strengthened profitability.
Strategic Growth & Market Expansion
Under its EverGreen strategy, HEINEKEN Malaysia remains committed to consumer-centric growth and portfolio expansion:
- New Product Innovation: Tiger Soju Flavoured Lager & Edelweiss Peach, both gaining traction.
- Brand Strength:
- Heineken®, Tiger Beer, and Guinness won Gold at the Putra Brand Awards.
- Edelweiss secured Bronze at the Putra Aria Brand Awards for the second year.
- Drinkies platform received two awards at the Asian Experience Awards 2024.
Investing in Talent & Global Recognition
- Star Academy: Trained 10,000+ bartenders nationwide.
- Global Achievement: A Malaysian-trained bartender won the 2024 Heineken® Global Draught Championship in Amsterdam, reinforcing the brand’s commitment to excellence.
Navigating Market Challenges & 2025 Outlook
Managing Director Martijn van Keulen stated:
“We are committed to sustaining our growth momentum by sharpening commercial execution while staying agile in an evolving business environment. Our EverGreen strategy will drive long-term resilience, efficiency, and cost optimisation.”
While macroeconomic stability is improving, the Group remains cautious of market uncertainties. The decision to maintain beer excise duties in Budget 2025 is seen as crucial to curbing illicit trade, which threatens industry growth and government revenue. HEINEKEN Malaysia continues to work with authorities through the Multi-Agency Task Force to combat the illicit alcohol market.
Sustainability Leadership & Industry Recognition
- RM1.4 billion tax contribution in 2023 (53% of total revenue).
- Green Initiatives: Brewery solar panel installation, water security projects, and responsible consumption advocacy (since 2010).
- Awards:
- MDBC Best Sustainable Built Environment Award 2024.
- UN Global Compact Sustainability Awards 2024 for leadership in water resilience & SDG reporting.
HEINEKEN Malaysia continues to balance profitability with sustainability, positioning itself for long-term growth in 2025 and beyond.
For more details, visit www.heinekenmalaysia.com.
