This was supported by a 44% increase in revenue to RM2.86 billion, which was above pre-pandemic levels, the company announced today.
Managing director Roland Bala attributed the group’s success to its preparedness to adapt to fast-changing realities.
“With the reopening of on-trade, entertainment channels and international borders, we adapted to the new market realities through various strategic initiatives in order to drive sustainable growth,” Bala said.
The reopening of its on-trade business saw the group record a revenue of RM792 million in the fourth quarter of the year (Q4 2022). This was a 10% quarter-on-quarter improvement.
The revenue growth was mainly driven by a boost in sales volume from increased on-trade consumption and earlier festive sell-in for Chinese New Year 2023.
The group profit before tax (PBT) rose 24% to RM154 million due to sustainable revenue growth as well as efficiency gains through cost and value initiatives.
Heineken Malaysia’s board has proposed a single tier final dividend of 98 sen per stock unit for the year ended Dec 31, 2022, subject to the approval of shareholders at the forthcoming annual general meeting.
The single tier dividend will be paid on July 20, 2023 to shareholders registered at the close of business on June 21, 2023.
The total dividend for the year ended Dec 31, 2022 is 138 sen. This comprises a single tier interim dividend of 40 sen per share which was paid on Nov 11, 2022 and a proposed single tier final dividend of 98 sen per share.
Bala further highlighted the group’s continued commitment towards net zero carbon emissions in production by 2030.
“We know that we can only thrive if our people, the planet and the communities around us thrive,” he said.
“Hence, we will also focus on our ‘Brew A Better World’ sustainability agenda, which includes making a positive impact in the environment and the communities where we operate,” he added.
The group, however, expects the business environment in 2023 to remain challenging given the continued pressure from global supply chain disruptions, recessionary pressures from leading economies, rising input costs, currency fluctuation and rising inflation that could impact consumer purchasing power.