SHAH ALAM: Carlsberg Brewery Malaysia Bhd reported a 5.1% increase in revenue to RM2.4 billion and a 3% growth in net profit to RM337.1 million for the financial year ended Dec 31, 2024 (FY24), attributing the jump to the timing of the Chinese New Year holiday being both later and earlier in 2024 and 2025 respectively.
The group recommended a final dividend of 35 sen per share, subject to shareholders’ approval at the upcoming 55th annual general meeting.
Upon approval, this will bring the total declared dividend for FY24 to RM1 per share.
Carlsberg Malaysia’s top-line and bottom-line figures reached new highs, reflecting its ability to navigate economic uncertainties while sustaining consumer demand.
Chief financial officer Vivian Gun Ling Ling said a favourable Chinese New Year season in 2024 has contributed to volume growth, with both front- and back-end sales benefiting from heightened festive spending.
However, she noted that the company experienced a margin compression due to increased marketing investments and higher raw material costs.
“The launch of Sapporo and Brut, along with intensified Chinese New Year promotions, required significant upfront spending, impacting profitability in the short term.
Additionally, she noted that rising aluminium costs, exacerbated by the removal of China’s export value-added tax (VAT) rebate, put additional pressure on production expenses.
“Despite these challenges, Carlsberg Malaysia remains confident in its cost optimisation strategies and long-term pricing approach to mitigate margin pressures,” she said.
Gun said the firm navigates a highly competitive landscape in Singapore.
“The company has ramped up efforts to push its existing brands while leveraging the recent Sapporo launch to capture greater market share.
“Unlike in Malaysia, where Carlsberg holds the exclusive rights to manufacture and distribute Sapporo, the Singapore market operates under a different model, where Carlsberg only holds on-trade distribution rights.”
She said the company has stepped up brand activations and strategic marketing efforts in Singapore to counter rising competition.
She remarked that the company remains cautiously optimistic for 2025, recognising the challenges posed by inflationary pressures, high interest rates and economic uncertainties.
