Heineken Malaysia Berhad (HEIM) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 declined 13% year-over-year to RM664.2 million, reflecting softer consumer sentiment and a deliberate reduction in sales ex-brewery to align with market dynamics.

• Net profit for the quarter was RM104.5 million, down 15% year-over-year, with profit before tax also decreasing 15% to RM137.6 million.

• Sequentially, revenue, profit before tax, and net profit fell 21%, 27%, and 26% respectively from Q4 2025, due to post-festive sales normalization and continued market challenges.

Financial highlights

• Operating profit for Q1 2026 was RM141.4 million, a 14% decrease year-over-year.

• Earnings per share (EPS) stood at 34.58 sen, compared to 40.44 sen in Q1 2025.

• Net assets per share increased to RM2.10 from RM1.76 at year-end 2025.

• Cash and cash equivalents rose to RM126.9 million from RM15.4 million at year-end 2025.

• No dividends were paid during the quarter.

Outlook and guidance

• Market outlook remains soft amid geopolitical uncertainty and subdued consumer sentiment, expected to continue weighing on demand and cost pressures.

• Exports are expected to commence in Q3 2026 following a supply model transition, supporting operational efficiency and the EverGreen 2030 strategy.