Heineken Malaysia Berhad (HEIM) Q3 2026 earnings summary

Executive summary

• Q3 2026 revenue fell 18% YoY to RM539.1m; operating profit declined 37% to RM94.8m and net profit fell 39% to RM69.2m.

• 9M revenue decreased 16% to RM1,638.1m; operating profit fell 29% to RM304.3m and net profit declined 30% to RM224.2m.

• Q3 improved QoQ: revenue rose 24% to RM539.1m, while PBT and net profit each increased 37%.

Financial highlights

• Q3 PBT was RM91.2m, down 39% YoY; 9M PBT was RM295.4m, down 30% YoY.

• Q3 basic EPS was 22.90 sen versus 37.39 sen YoY; 9M basic EPS was 74.21 sen versus 105.30 sen.

• 9M net cash from operating activities was RM222.6m versus RM320.2m in 9M 2025.

Outlook and guidance

• Inventory normalisation is substantially complete and expected to conclude by Q4 2026; demand patterns and business performance are expected to progressively stabilise.

• Cautious outlook amid consumer sentiment and economic and market uncertainties; priorities include disciplined commercial execution, productivity and stronger operations under EverGreen 2030.