KUALA LUMPUR (Nov 11): Heineken Malaysia Bhd’s (KL:HEIM) third-quarter net profit fell 38.74% year-on-year, weighed by lower sales volume and operating profit.
Net profit for the three months ended Sept 30, 2026 came in at RM69.18 million compared with RM112.95 million a year earlier, a bourse filing showed.
Revenue for the quarter declined 17.82% to RM539.14 million from RM656.05 million, as sales volume was affected by subdued consumer sentiment, the additional 10% excise duty implemented on Nov 1, 2025, and inventory normalisation among distributors and outlets, which was largely completed in the quarter.
The brewer did not recommend any dividend for the quarter.
For the nine months ended Sept 30, 2026, net profit fell 29.53% to RM224.17 million from RM318.10 million in the corresponding period last year.
Revenue for the nine-month period declined 16.4% to RM1.64 billion from RM1.96 billion.
On its outlook, Heineken Malaysia said the inventory normalisation process was substantially completed, and is expected to conclude in the fourth quarter of this year.
As inventory levels normalise across the trade, the brewer expects demand patterns and business performance to progressively stabilise, although it remains cautious amid prevailing economic and market uncertainties.
“We remain disciplined in strengthening the business for the long term. As inventory normalisation nears completion, our focus is on sharpening commercial execution and driving greater operational efficiency,” said Heineken Malaysia managing director Martijn Rene van Keulen in a statement.
The brewer expressed concern over the continuing impact of the excise duty increase introduced under Budget 2026, which it said had compounded affordability pressures amid an already weak consumer sentiment.
It hoped the government would avoid further policy measures that could increase business costs and risk further dampening consumer demand, with potential implications for the industry and government revenue.
Shares of Heineken Malaysia ended 10 sen or 0.75% lower at RM13.32 on Wednesday, giving the company a market capitalisation of RM4.02 billion.