KUALA LUMPUR (Feb 12): Carlsberg Brewery Malaysia Bhd (KL:CARLSBG) proposed a 35 sen per share final dividend for the quarter ended Dec 31, 2024 (4QFY2024), after recording RM78.8 million in net profit during the quarter.

This takes the full year dividend declared by the local brewery with operations in Malaysia, Singapore and an associate stake in Lion Brewery (Ceylon) PLC (LBCP) in Sri Lanka to RM1 per share, the highest in five years.

For the fourth quarter ended Dec 31, 2024 (4QFY2024), net profit rose 0.97% to RM78.8 million from RM78.03 million a year earlier, as revenue edged up 1.15% to RM587.23 million from RM580.53 million.

Earnings per share improved to 25.77 sen from 25.52 sen, according to its filing with Bursa Malaysia on Wednesday.

The marginal increase in its 4QFY2024 revenue and net profit was driven by higher trade loading in Malaysia and stronger contribution from LBCP, the group said.

Carlsberg Malaysia said its Malaysian revenue grew 6.5% year-on-year (y-o-y), supported by higher sales in December 2024 ahead of the earlier Chinese New Year (CNY) celebrations in January 2025.

However, revenue from its Singaporean operations fell 11.4% y-o-y due to weaker premium sales following the transition from the Asahi brand to Sapporo.

Note that Carlsberg Malaysia and Asahi Group Holdings Ltd ended their 10-year distribution agreement in June 2023. Carlsberg Malaysia then partnered with Sapporo Breweries Ltd in December of the same year.

The company’s share of profit from LBCP surged to RM10.8 million from RM4.5 million, as last year’s figure was impacted by a RM3.3 million deferred tax liability on foreign withholding tax.

For the full FY2024, the company’s net profit increased 3% to RM337.08 million from RM327.26 million, while revenue climbed 5.11% to RM2.38 billion from RM2.26 billion.

Looking ahead, the brewery company said it is laying the groundwork to navigate a challenging macroeconomic environment shaped by inflationary pressures, high interest rates and cautious consumer sentiment.

“In 2025, we will be negatively impacted by the CNY timing, as we have already benefitted in December 2024 from the early CNY in 2025 and given the 2026 CNY timing (17 Feb 2026) the trade loading performed this year is likely to be lower in December 2025.

“In Singapore, intense competition on price and across channels is likely to persist, requiring continued agility,” said the company’s managing director Stefano Clini in a statement.

Guided by its Accelerate SAIL strategic priorities, Carlsberg remains committed to sustain growth and create long-term value for stakeholders by enhancing its premium portfolio, continuing to execute its brewery transformation and focusing on cost optimisation initiatives, he added.

Shares of Carlsberg gained six sen or 0.30% to close at RM20.26 on Wednesday, giving the company a market capitalisation of RM6.18 billion.

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