PETALING JAYA: Heineken Malaysia Bhd’s earnings for the second quarter ended June 30, 2024 (Q2’24) remained steady despite consumer sentiments influenced by the rising cost of living and ongoing macroeconomic uncertainties.
The brewer’s revenue in Q2’24 decreased by 1% to RM565.5 million, compared to RM569.2 million posted in Q2’23. Net profit in Q2’24, however, increased by 1% to RM91.1 million compared to RM90.5 million recorded in Q2’23.
For the first half of FY24 (H1’24), Heineken Malaysia’s revenue increased by 4% to RM1.35 billion from RM1.31 billion posted in H1’23. Net profit for the first six months of this year increased by 7% to RM213.6 million from RM200.4 million in the previous year, primarily due to effective implementation of strategic commercial initiatives such as the Chinese New Year campaign in the first quarter.
Managing director Martijn Rene van Keulen said the company’s strong start to 2024 led to a positive performance in the first half of FY24.
“In light of the volatile trading environment and ongoing macroeconomic concerns, we continue to remain cautious. We continue to invest behind our strategic brands and innovations in the first half of 2024 as Heineken initiated a series of activations to engage and connect with our consumers,” he said in a statement.
Heineken Malaysia’s board has declared a single-tier interim dividend of 40 sen per stock unit, to be paid on Oct 30. The entitlement date for the dividend payment is Oct 9. The total dividend declared for the six months ended June 30, 2024, is 40 sen per stock unit, similar to that in FY23.
On the outlook, van Keulen said that despite the current trading environment and macroeconomic uncertainties, Heineken Malaysia’s focus remains on the EverGreen strategy to guide through challenges and deliver long-term sustainable performance.
“Looking ahead, we will continue to stay agile in navigating the external challenges to deliver a commendable performance this year. As the new managing director, I look forward to working with our One Strong Winning Team in achieving greater heights,” he said.
