Heineken Malaysia Berhad announced its financial results for the first quarter ended 31 March 2022 (1QFY22), reporting improved performance as cost and value initiatives delivered greater efficiencies amidst a gradually improving external environment.
Group revenue grew by 27% as compared to the same quarter in 2021, mainly due to higher sales driven by the easing of COVID-19 restrictions and effective commercial execution during Chinese New Year. Revenue margin growth initiatives implemented by the Group such as price adjustments for certain products in the fourth quarter of 2021 and promotional spend optimisation have also contributed to the overall revenue growth in the quarter ended March 2022.
Despite pressure on input costs and increased investment in sustainable brand growth, Group PBT grew 60% to RM155 million. The growth is principally driven by revenue growth as highlighted above as well as effective cost management.
The Group’s performance in 1QFY22 improved against pre-pandemic levels as well, with Group revenue growing by 33% (1QFY19 Revenue: RM525.1 million) and Group PBT improving by 120% (1QFY19 PBT: RM70.4 million) indicating a significant recovery attributed to the easing of social restrictions as well as the effectiveness of the Group’s commercial strategies.
Commenting on the results, Roland Bala, Managing Director of HEINEKEN Malaysia, said, “Despite the challenging external environment, we have delivered a commendable performance for the quarter. Our cost and value initiatives are bearing fruit, whilst we continued investing behind our brands with a consumer-first approach.
