PETALING JAYA: Heineken Malaysia Bhd
’s revenue for the third quarter ended Sept 30, 2026 (3QFY26), stood at RM539.1mil, an 18% decrease compared with the same period last year.
In a statement, the company said the performance reflected lower sales volume mainly from subdued consumer sentiment, the impact of the additional 10% excise duty effected on Nov 1, 2025, and the ongoing inventory normalisation in distributors and outlets network which was largely completed in 3QFY26.
Profit before tax and net profit were RM91.2mil and RM69.2mil respectively, both 39% lower year-on-year.
“Lower operating expenses partially offset the impact of the reduced revenue base,” it said.
For the nine months ended Sept 30, 2026, group revenue amounted to RM1.64bil, 16% lower year-on-year, primarily due to lower sales volume.
“Profit before tax and net profit stood at RM295.4mil and RM224.2mil respectively, both 30% below the corresponding period in 2025,” said the company.
Commenting on the results, Heineken Malaysia managing director Martijn van Keulen said the group remains 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.
“Guided by EverGreen 2030, we will continue investing behind our brands and capabilities while staying agile and responsive to evolving market conditions.”
The board of directors did not recommend any dividend in respect of the quarter ended Sept 30, it said.
On the outlook, Heineken Malaysia said the inventory normalisation process is substantially completed and is expected to be concluded by the fourth quarter of 2026.
“As inventory levels normalise across the trade, the group expects demand patterns and business performance to progressively stabilise. Nevertheless, the group remains cautious given the prevailing economic and market uncertainties.
“While the operating environment remains challenging amid cautious consumer sentiment, the group is encouraged by the cost management actions taken to date and the substantial progress in inventory normalisation.”
Heineken Malaysia said it also remains concerned about the continuing impact of the excise duty increase introduced under Budget 2026, which has compounded affordability pressures amid already weak consumer sentiment.
“Against this backdrop, the group hopes that the Government will avoid further policy measures that could increase business costs and risk further dampening consumer demand, with potential implications for the Industry and Government revenue.”
