Heineken Malaysia’s 2Q & 1H FY2024 Results recorded steady performance with positive growth

Heineken Malaysia Berhad (HEINEKEN Malaysia) has announced its financial results for the second quarter and half year ending on June 30, 2024. Despite subdued consumer sentiments, the Group has maintained a consistent performance. Group revenue in the second quarter of 2024 saw a slight decrease of 1% compared to the same period in 2023, while the Group’s PBT increased by 1% due to effective cost and value management. For the first half of 2024, Group revenue increased by 4% primarily due to strategic commercial initiatives like the Chinese New Year campaign. Group PBT also rose by 7% compared to the same period last year.

Managing Director of HEINEKEN Malaysia, Martijn Rene van Keulen, mentioned a strong start to 2024 and a positive performance in the first half, emphasizing a commitment to the EverGreen strategy for long-term sustainable growth. The company has been investing in strategic brands and innovations, such as the successful ‘Cheers to a Bolder Tomorrow’ CNY campaign by Tiger Beer, which won a Bronze Lion at the 2024 Cannes Lions International Festival of Creativity.

Tiger Beer also launched the Tiger Soju Flavoured Lager in the second quarter, encouraging consumers to embrace boldness and elevate their experiences. The group also hosted other innovative campaigns include the Heineken Refresh and Guinness St. Patrick’s Day celebrations for this year.

The Board has declared a single tier interim dividend of 40 sen per stock unit for the financial year ending 31 December 2024 to be paid on 30 October 2024. The entitlement date for the dividend payment is 9 October 2024. Total dividend declared for the six months ended 30 June 2024 is 40 sen per stock unit (six months ended 30 June 2023: 40 sen). 

Looking ahead, Martijn emphasized the company’s focus on the EverGreen strategy amidst challenging external factors, aiming for sustainable performance. As the new Managing Director, he expressed enthusiasm about working with the team to achieve greater heights in the future.

HEINEKEN Malaysia’s key EverGreen priorities include:

• Drive superior growth – With consumer centricity, we shape and lead the premium category and continue investing behind our brands.
• Fund the growth – Cost and value to drive efficiency to enable reinvestments into our brands and business.
• Raise the bar on sustainability and responsibility – Deliver on our ambition to become net zero carbon in production by 2030 and the full value chain by 2040.
• Become the best connected brewer – Accelerate digital and technology to create a Unified Customer Ecosystem with a customer and consumer-first approach.
• Unlock the full potential of our people – Promote a high-performance culture that boosts our strategic capabilities, nurture the best talents, and foster an organisation where people thrive.

The Group has a strong commitment to sustaining its socioeconomic impact in Malaysia, contributing RM1.4 billion to Government revenue in 2023, which is 53% of its total revenue. They engage with communities, business partners, and consumers on environmental stewardship, social sustainability, and responsible consumption. Solar panels have been installed, and suppliers are being encouraged to increase ESG awareness to support the Group’s net-zero journey.

However, illicit alcohol remains a major concern for the Group and the beer industry. HEINEKEN Malaysia supports Customs enforcement efforts to protect Government revenue, as any increase in excise duty could boost demand for illicit alcohol. They remain dedicated to working closely with authorities to combat illicit trade through comprehensive efforts.

For more information on HEINEKEN Malaysia and its initiatives, please visit www.heinekenmalaysia.com.