Heineken Malaysia Berhad (HEIM) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 rose 3.2% year-over-year to RM619.0 million, with profit before tax up 11.7% to RM128.8 million, driven by sales growth and effective cost management.

• For the nine months ended September 2024, revenue increased 3.4% to RM1.97 billion and profit before tax grew 8.2% to RM410.1 million, supported by strong campaign execution and commercial initiatives.

• Net profit for the nine months was RM325.9 million, up 13% year-over-year.

Financial highlights

• Q3 2024 net profit was RM112.3 million, a 29% increase year-over-year.

• Earnings per share for the nine months was 107.88 sen, up from 95.24 sen in the prior year period.

• Net cash from operating activities for the nine months was RM299.4 million, with cash and cash equivalents at RM7.3 million at period end.

• Dividends paid in the nine months totaled RM386.7 million, including a final dividend of 88 sen per share and an interim dividend of 40 sen per share.

Outlook and guidance

• Management remains optimistic for gradual improvement in consumer confidence, supported by stable macroeconomic conditions.

• Focus remains on sustaining growth momentum and cost optimisation, with preparations underway for the Chinese New Year 2025 campaign.

• No increase in excise duties on beer in Budget 2025 is viewed positively for market stability.