CARLSBERG Brewery Malaysia Bhd published its Integrated Annual Report (IAR) for the financial year 2024, guided by the theme of ‘Brewing Transformation for a Better Today and Tomorrow’, highlighting a transformative year for the brewer, which delivered on key strategic initiatives that reflected innovation, growth and sustainable leadership.
Guided by the Value Reporting Foundation’s integrated reporting framework, the IAR 2024 reaffirms the group’s commitment to delivering a comprehensive and transparent account of its financial and non-financial performance, with greater value creation discussions and cross-referencing throughout the report.
Its non-financial disclosures encompass its Environmental, Social and Governance (ESG) performance, which is encapsulated in Carlsberg Group’s ESG programme, Together towards ZERO and Beyond (TTZAB).
Carlsberg Brewery Malaysia Bhd’s IAR 2024 discusses the first year of how the group’s refreshed strategy, Accelerate SAIL, paves the way for top- and bottom-line growth ambition as it sharpens its focus on 13 of its priorities and selected growth drivers within its portfolio and capabilities.
It is also improving supply chain efficiency, continuing well-embedded cost focus, developing a growth culture while maintaining its ESG commitments.
The sustainability scope in the IAR 2024 is aligned with Bursa Malaysia’s Sustainability Reporting Guide, 3rd Edition, and Illustrative Sustainability Report and showcases a performance data table.
In addition, it also reported its sustainability progress and achievements against the International
The group’s sustainability statement also provides insights on how the group addresses its 13 prioritised material matters impacting the business in detail and mitigated risks associated to them.
The featured 13 material matters are a result of a materiality review, following a materiality validation exercise conducted to ensure alignment with stakeholder needs and its TTZAB focus areas, resulting in a reduction to 13 from 19 prioritised material matters the year before.
The sustainability statement also covers the sustainability governance structure, the management of ESG risks and opportunities and stakeholder engagement and advocacy initiatives.
Most notably, the group raised the bar in its maiden attempt to transition from Task Force on Climate-related Financial Disclosures (TCFD) to International Financial Reporting Standards (IFRS) S2 (Climate-related Disclosures), in its effort to enhance on climate-related risks and opportunities disclosures with financial impacts.
The disclosures deep-dived into climate-related risks and opportunities based on the brewer’s operations, disclosing Scope 3 carbon emissions for three categories, namely for Category 5 (Waste Generated in Operations), Category 6 (Business Travel) and Category 7 (Employee Commuting).
Last year was also a year of celebration as the group launched two premium brands – 1664 and Sapporo, embedded a growth culture as part of its DNA and delivered higher revenue and profit, all while achieving significant brewery transformation milestones.
Carlsberg Malaysia managing director, Stefano Clini said, “Anchored by two key priorities — our ongoing Brewery Transformation and a sharpened focus on Premiumisation and Innovation — we are proud to have delivered higher top-line and record bottom-line performance for the 2024 financial year.”
With an investment of RM200mil in the past three years—the largest investment since its establishment in 1971—towards state-of-the-art upgrades at the brewery, these upgrades will ultimately future proof its operations for growth, with innovation and sustainable brewing at the core.
“This transformation is not merely an infrastructure upgrade and technology advancement; it embodies our commitment to operational excellence, environmental stewardship and workplace safety.
“Key TTZAB milestones included intensified efforts towards decarbonisation, with significant progress in reducing our carbon emissions and improving resource efficiency, taking a step closer towards our goal of achieving carbon neutrality at our brewery by 2030,” Clini added.
As part of its continuous commitment towards greater transparency and data integrity in the reporting process, the sustainability statement has also been reviewed by internal auditors, who have provided a Statement of Assurance.
It also maintained its FTSE4Good Bursa Malaysia Index (F4GBM) score of 3.6 out of 5 and Morgan Stanley Capital International (MSCI) ESG ratings of 6.3 out of 10 last year, further demonstrating its commitment to sustainability and continuous improvement in the depth and quality of its reporting disclosures.
Click here to access the interactive Carlsberg Brewery Malaysia Bhd’s 2024 Integrated Annual
