KUALA LUMPUR: Carlsberg Brewery Malaysia Bhd
, which posted a 22% rise in net profit for the fourth quarter ended Dec 31, 2025 (4Q25), remains cautious amid macroeconomic uncertainties, external headwinds and subdued consumer sentiment.
“We are also mindful of the impact of the excise duty implemented since November 2025 and remain focused on improving our bottom-line in a disciplined manner to support long-term sustainability,” managing director Stefano Clini said in a statement.
Nevertheless, Carlsberg expects the upcoming Visit Malaysia 2026 campaign to support tourism activity and help stimulate domestic spending, which may, in turn, have a positive impact on consumer demand for its products.
The group will continue to exercise vigilance in its cost optimisation efforts to support investments in its brands, brewery and digital transformation, as it strengthens resilience and reinforces its commitment to long-term sustainable value creation.
In 4Q25, Carlsberg posted a net profit of RM96.1mil, or earnings per share of 31.45 sen, up from RM78.8mil, or 25.77 sen, a year earlier.
The brewer said the stronger earnings were mainly driven by value management initiatives and lower operating costs compared with the same quarter last year.
However, quarterly revenue fell to RM523.6mil from RM587.2mil previously, largely due to the later timing of Chinese New Year (CNY) in 2026 and lower distributor inventories at year-end.
For the financial year ended Dec 31, 2025 (FY25), net profit rose 11.4% to a record of RM375.6mil from RM337mil, while revenue declined to RM2.26bil from RM2.38bil in FY24.
Carlsberg attributed the lower annual revenue to unfavourable festive timing and subdued consumer sentiment across both markets, while higher earnings were supported by price increases, value management initiatives, cost optimisation efforts and one-off trade offer adjustments in its Singapore operations.
The board of directors recommends a final dividend of 43 sen per share, subject to the shareholders’ approval at the upcoming 56th Annual General Meeting.
Upon approval, this will bring the total declared dividend for FY25 to 111 sen per share.
“We’re pleased to have delivered record-high profit for the financial year ended 2025, despite lower sales due to the shorter CNY timing and subdued consumer sentiment.
