Financial Highlights for the quarter ended 30 June 2022 (Q2FY22):

• The Group’s revenue grew by 64.4% to RM574.2 million (Q2FY21: RM349.2 million)
• Malaysia’s revenue growth of 76.1% at RM429.0 million (Q2FY21: RM243.6 million)
• Singapore’s revenue growth of 37.5% at RM145.2 million (Q2FY21: RM105.6 million)

• The Group’s profit from operations increased by 171.7% to RM125.5 million (Q2FY21: RM46.2 million)
• Malaysia’s profit from operations up 160.4% at RM99.1 million (Q2FY21: RM38.0 million)
• Singapore’s profit from operations increased 224.4% at RM26.4 million (Q2FY21: RM8.1 million)

• The Group’s net profit rose by 139.5% to RM88.9 million (Q2FY21: RM37.1 million)
• Sri Lankan-based associate company Lion Brewery (Ceylon) PLC registered a share of profits of RM1.4 million (Q2FY21: RM2.7 million) 

Financial Highlights for the first half ended 30 June 2022 (1HFY22):

• The Group’s revenue grew by 39.4% to RM1.2 billion (1HFY21: RM881.2 million)
• Malaysia’s revenue growth of 47.2% at RM883.2 million (1HFY21: RM600.2 million)
• Singapore’s revenue growth of 22.7% at RM344.9 million (1HFY21: RM281.0 million)

• The Group’s profit from operations increased by 85.2% to RM239.3 million (1HFY21: RM129.2 million)
• Malaysia’s profit from operations up 91.6% at RM191.9 million (1HFY21: RM100.1 million)
• Singapore’s profit from operations increased 63.0% at RM47.4 million (1HFY21: RM29.1 million)

• The Group’s net profit rose by 74.3% to RM180.5 million (1HFY21: RM103.6 million)
• Sri Lankan-based associate company Lion Brewery (Ceylon) PLC registered a share of profits of RM8.2 million (1HFY21: RM6.6 million)

SHAH ALAM, 19 August 2022 – Carlsberg Brewery Malaysia Berhad (the Group) reported a net profit of RM88.9 million in the second quarter of fiscal year 2022 (Q2FY21), an increase compared to the same period last year of 139.5%, on the back of a 64.4% revenue growth to RM574.2 million as sales recovered from the disruptions experienced last year when the Group’s Malaysia operations were suspended for 75 days from 12 May 2021 until 15 August 2021.

In the domestic market, the Group saw an increase in sales in June as customers increased their purchases ahead of the price adjustment from 1 July 2022. In Singapore, the lifting of dine-in restrictions, coupled with the easing of Singapore-Malaysia border restrictions on 1 April 2022  led to the recovery in on-trade consumption.

The Group’s associate company in Sri Lanka, Lion Brewery (Ceylon) PLC registered a lower share of profit of RM1.4 million in Q2FY22 as compared to a share of profit of RM2.7 million for Q2FY21 due to a one-off surcharge tax expense of RM3.7 million. In the current economic crisis and uncertainty, the Group will continue to closely monitor the developments in the country.

The Group’s earnings per share (EPS) for the quarter was 29.09 sen versus 12.15 sen in Q2FY21.

For the first half ended 30 June 2022 (1HFY22), the Group’s net profit increased by 74.3% to RM180.5 million as revenue grew  39.4% to RM1.2 billion against the same period last year. The solid results were a sign of stable recovery and sustained growth momentum, further amplified by our continuous focus on strategic initiatives, as well as strong value management initiatives to protect our margins.

The effects of the one-off prosperity tax (Cukai Makmur) announced in the 2022 Budget, which impacted the Group’s earnings in Q2FY22, will continue to be felt in the remaining quarters of this financial year.

The RM110 million capital expenditure (CapEX) for the upgrade works of its Shah Alam brewery is well on track. Following the completion of the upgrade, the production facility will contribute towards a lower climate footprint and deliver greater flexibility in packaging innovations. 

On the back of this satisfactory performance, the Board of Directors is pleased to announce a second interim dividend of 22 sen per share, bringing the total dividend for the year to 44 sen per share. Moving forward, the Board continues its approach of declaring dividends taking into consideration of the Group’s performance, the business environment and other circumstances.

Managing Director Stefano Clini said: “We are pleased to continue delivering a satisfactory top and bottomline growth for Q2FY22 in both Malaysia and Singapore operations across all brand portfolios of mainstream, premium and alcohol-free categories and this is a testament to the effectiveness of our strategy implementation.

In Malaysia, we built on the growth momentum of Carlsberg Smooth Draught with the “Real Spicy, Real Smooth” promotion in Peninsular Malaysia and “Raikan Kebanggaan Sabah and Sarawak” campaign in conjunction with the Harvest and Gawai Festival. Our investments behind premiumisation – the 1664 Blanc’s charming Bon Appétit-lah campaign, introduction of non-alcoholic sparkling fruit drink Somersby 0.0 and the nationwide rollout of Connor’s Stout Porter new glassware promotion drove trials and sales. In Singapore, we also intensified our efforts to accelerate premiumisation with the launch of 1664 Rosé’s Great Taste with a Twist campaign, the Asahi Super Dry’s Beyond Expected promotion and the Connor’s Stout Porter new glassware”, Clini said.

“Celebrating Carlsberg’s 30-year partnership with Liverpool FC, we have rewarded a total of 200 Malaysian and Singaporean consumers with tickets to pre-season matches, where Liverpool FC played against Manchester United FC in Thailand and against Crystal Palace FC in Singapore on 12 July and 15 July respectively. During the same week, Liverpool FC fans were treated to both the Legends Meet & Greet and First Team Players Meet & Greet events in Singapore. This month, Liverpool FC fans in Malaysia will also be invited to another Legends Meet & Greet session on 27 August”, Clini shared.

On prospects, Clini added that the Group remains cautious due to the ongoing disruptions in the global supply chain and escalating commodity prices, which have been further exacerbated by the Ukraine-Russia crisis. Clini also noted that the rising global inflationary pressures will affect consumer sentiment and their disposable income.

On 18 August 2022, Carlsberg Malaysia was awarded the ‘Company of the Year’ award for the Community Impact category within the F&B manufacturing industry. The Group remains as a counter of note within FTSE Russell’s FTSE4GOOD Bursa Malaysia (F4GBM) Index and achieved a Morgan Stanley Capital International (MSCI) ESG ratings of “AA”.