KUALA LUMPUR: Heineken Malaysia Bhd posted positive revenue and profit for the year ended 31 December 2021 (FY21) as the brewer recovers following the reopening of the economy in Malaysia during the year.
Revenue increased by 12 per cent to RM1.98 billion from RM1.76 billion posted in FY20, mainly due to improved revenue management.
Net profit for FY21 increased by 59 per cent to RM246 million from RM154 million recorded in FY20.
The company undertook bold moves to right-size the organisation and cost base whilst driving revenue growth through effective commercial and marketing executions.
For the fourth quarter (Q4) ended 31 December 2021 (FY21), Heineken Malaysia's revenue increased by 33 per cent to RM692 million due to higher sales volume, driven by the Covid-19 restrictions' easing earlier festive sell-in for Chinese New Year 2022.
During Q4, price adjustment has been taken for specific products to compensate for rising input costs.
Managing director Roland Bala said the company would continue to navigate the crisis while building a sustainable future.
"We are driven by our purpose of brewing the joy of true togetherness to inspire a better world.
"Our courage to right-size our organisation and front-load our cost and value initiatives during the crisis has contributed significantly to our performance.
"Despite having to stop our operations for 11 weeks in 2021, which is four more than the seven weeks we paused for in 2020, the team pulled together various strategic initiatives to unlock efficiencies to help us overcome the many challenges, enabling us to end the year with a commendable set of results," he said in a statement today.
The board at Heineken Malaysia has proposed a single-tier final dividend of 66 sen per stock unit for the year ended 31 December 2021, subject to the shareholders' approval.
The single-tier dividend will be paid on 28 July 2022 to shareholders.
"Heineken Malaysia welcomes the stance taken by the government not to increase excise duties on beers and stouts in its Budget 2022, as any hike in excise rates will further fuel illicit alcohol demand.
"As it is, Malaysia's excise rate for beers and stouts ranks second highest in the world.
"Heineken Malaysia remains committed to support the government to stamp out illicit trade," Roland said.