Carlsberg’s net profit in Malaysia & Singapore nearly tripled to MYR 76.4 million (USD 16.8 million) in Q3 2022.
The brewery attributed the growth to the full reopening of brewing and sales operations, in addition to the reopening of both countries’ international travel markets.
The earnings report also comes hot on the heels of Carlsberg committing MYR 110 million (USD 24.3 million) to upgrade their brewery in Shah Alam, Malaysia during a visit by global CEO Cees ‘t Hart.
The visit was also a dual commemoration of the brewing conglomerates’ 175th birthday and the 50th anniversary of the first Carlsberg Danish Pilsner brewed in Malaysia, Carlsberg’s first brewed outside of Denmark.
Back to the numbers, Carlsberg Malaysia’s quarterly revenue was up a significant 94.4% to RM421.7 million (USD 93.1 million), while Singapore’s revenue improvement was more muted, growing at 13.3% to RM149.9 million (USD 33.1 million).
Looking beyond the quarter three quarters of 2022, the net profit of Carlsberg’s combined Malaysia & Singapore operations rose by 98.3% to RM256.9 million (USD 56.7 million), while revenue increased by 46.3% to RM1.8 billion (USD 397.6 million) against the same period last year.
“We are pleased to continue delivering top and bottom line growth as our businesses recovered when Malaysia and Singapore lifted their COVID-19 restrictions,” shared Carlsberg’s Managing Director Stefano Clini.
“We celebrated Carlsberg’s 30-year partnership with Liverpool FC, rewarding our football lovers with the exclusive Carlsberg Liverpool FC Legends Edition 6-can pack, and hosted Liverpool FC Legends Meet & Greet parties in both Malaysia and Singapore.”
“On premiumisation, we increased investment behind the 1664 Michelin campaign and launched the Somersby Watermelon variant in Singapore, as well as rolled-out the Asahi Super Dry’s Sense Tokyo promotion in both Malaysia and Singapore.”
“We welcome the Malaysian Government’s decision of no increase for beer excise in the recently tabled National Budget 2023. This, together with more enforcement, will help to further curb the growth of illicit beer and augur well for the Government and the legitimate beer industry.”