Heineken Malaysia quarterly profit falls 38.74% as sales weaken
The brewer hopes the government will avoid further measures that raise business costs, citing pressure on affordability and consumer demand.
Heineken Malaysia Bhd’s net profit dropped to RM69.18 million for the quarter ended Sept 30, 2026, compared with RM112.95 million a year earlier. The 38.74% year-on-year decrease came alongside lower sales volume and operating profit.
The brewer’s bourse filing showed quarterly revenue of RM539.14 million, down 17.82% against RM656.05 million previously. Sales volumes were affected by weak consumer sentiment, an additional 10% excise duty introduced on Nov 1, 2025, and adjustments to inventories held by distributors and outlets. The company recommended no dividend for the quarter.
For the nine-month period to Sept 30, 2026, profit stood at RM224.17 million, a decline of 29.53% against RM318.10 million a year earlier. Revenue decreased to RM1.64 billion from RM1.96 billion, a fall of 16.4%.
Heineken Malaysia said trade inventory adjustments were largely finished and expected the process to end in the fourth quarter of 2026. It anticipated progressively more stable demand and business performance as inventories normalised, while maintaining a cautious outlook because of economic and market uncertainties.
The company said the excise duty increase under Budget 2026 had worsened affordability pressures against a backdrop of weak consumer sentiment. It expressed hope that the government would refrain from additional policies that could lift business costs and further weaken demand, potentially affecting both the industry and government revenue.
Heineken Malaysia’s closing share price was RM13.32, a loss of 10 sen or 0.75%, leaving its market capitalisation at RM4.02 billion.
