Heineken Net Profit Hits New Highs, Increasing 241% In Q2

If there is a benchmark to see how effective the reopening of the economy and borders is to businesses, then Heineken Malaysia could possibly be that indicator.

The group released its financial results for the second quarter and half year ended 30 June 2022, reporting an improved performance with revenue, and net profit increasing by 29% and 68% respectively in the first half of 2022.

For Q2 2022, Group revenue grew by 84% versus the same quarter in 2021, due to an upsurge in sales following the reopening of the economy and international borders, improvement in product mix, and better revenue management. Additionally, Q2 2021 was a weaker comparison due to brewery lockdown in the month of June 2021.

However, the net profit gave a better perspective of the recovery, the second quarter saw net profit increase by 241% to RM86.1 million. Heineken says the growth was driven by revenue growth as highlighted above as well as continued focus on driving the EverGreen strategy to deliver sustainable growth.

For the first half of 2022, Group revenue and net profit increased by 50% and 102% respectively versus the six months ended 30 June 2021, mainly driven by robust sales performance during the festive period in the first quarter and steady recovery for the on-trade business in the second quarter.

Commenting on the results, Roland Bala, Managing Director of HEINEKEN Malaysia, said, “We have performed commendably in the first half of 2022, in line with Malaysia’s easing of COVID-19 restrictions. The bold moves we took in the past two years to navigate the storm whilst building for a stronger future are showing results, enabling us to accelerate our recovery to surpass pre-pandemic levels.

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