Annual Report 2024
We Are
Heineken
Our Purpose
We Brew the Joy of True Togetherness to Inspire a Better World
Our Values
-
Passion
for consumers & customers
-
Courage
to dream & pioneer
-
Care
for people &
planet
-
Enjoyment
of life
Our Chairman’s Message
Group Revenue
billion
Group Profit Before Tax
million
Group Net Profit
million
Dear Shareholders,
As we reflect on 2024, the year was marked by uncertainties stemming from ongoing geopolitical conflicts and escalating trade tensions, which affected prices and inflation rates. Currency fluctuations and rising living costs strained consumer sentiment and spending, adding to an already challenging economic landscape. Despite these headwinds, Malaysia demonstrated resilience by implementing key economic reforms to foster stability and growth. Against this backdrop, HEINEKEN Malaysia delivered a strong financial performance, achieving a record year and earning multiple accolades for its leadership in sustainability, digital transformation and responsible business practices.”
Dato’ Sri Idris Jala
Chairman
Group Revenue
billion
Group Profit Before Tax
million
Group Net Profit
million
Group Revenue
billion
Group Profit Before Tax
million
Group Net Profit
million
Management Discussion & Analysis
Group Revenue
billion
Group Profit Before Tax
million
Group Net Profit
million
As we reflect on the past year, I am proud of HEINEKEN Malaysia’s achievements. In 2024, we navigated a dynamic environment marked by political and economic shifts, including geopolitical tensions, currency fluctuations and illicit alcohol issues. Despite these challenges, we made significant strides in the areas of people, planet and performance. This success is made possible by the dedication of our employees, business partners, customers and consumers. Their unwavering support and trust have been integral to our journey, and we extend our deepest gratitude.”
Martijn Rene van Keulen
Managing Director
Performance Highlights
People
women in Board of Directors
women in Management Team
Total Employees
Employee Engagement Index Score
Performance Enablement Index Score
Channelled to support four NGOs to enhance community resilience
million
raised since 1994
million
raised for nine institutions via Tiger Sin Chew Chinese Education Charity Concert (Tiger Sin Chew CECC)
Planet
reduction in Scope 1 and Scope 2 emissions in production vs FY2022 baseline
improvement in water consumption since 2014
Renewable Electricity via Tenaga Nasional Berhad (TNB)'s Green Electricity Tariff (GET) programme since March 2022
Installed
mono-perc solar panels on the Sungei Way Brewery roof with a total capacity of 2,600 MWh
Balanced
of water used in our products in 2024
Fully recycled and upcycled
our production waste since 2017
Performance
Group Revenue
Group Net Profit
million
(FY2023: RM387 million)
Group Profit Before Tax (PBT)
(FY2023: RM511 million)
Single Tier Interim Dividend
per stock unit paid on 30 October 2024
Proposed Single Tier Final Dividend
per stock unit payable on 23 July 2025
in taxes contributed to the Government
ESG Review
GOVERNANCE
HEINEKEN Malaysia maintains a governance structure rooted in ethical conduct and accountability, fostering integrity across all levels of the organisation. These principles guide our daily operations, from frontline employees to senior leadership, ensuring operational excellence, ethical sourcing and supply chain integrity. Together, we build trust and encourage responsible corporate leadership which is essential for success in the competitive brewing industry.
Material Sustainability Matters
-
Regulatory Compliance
-
Corporate Governance and Anti-Corruption
-
Data Privacy and Cybersecurity
-
Risk Management
Key Highlights
ZERO
substantiated non-compliance incidents with applicable laws or regulations
ZERO
substantiated complaints concerning breaches of customer privacy and losses of customer data
employees underwent training on anti-bribery and anti-corruption
ENVIRONMENTAL SUSTAINABILITY
As a responsible corporate citizen, HEINEKEN Malaysia acknowledges the environmental risks posed by climate change and resource scarcity, including high energy and water consumption. In response, we adhere to the highest environmental responsibility standards, ensuring our sustainability claims are substantiated by credible and verifiable data. Our BaBW 2030 ambition guides our efforts with clear, measurable goals to reduce our environmental impact. Through this, we aim to brew responsibly and contribute to a more resilient future.
Material Sustainability Matters
-
Climate Resilience and Energy Efficiency
-
Water Stewardship
-
Waste and Effluent Management
-
Resource Use
ESG Pillars and Ambition Areas
- Reach Net Zero Carbon
- Maximise Circularity
- Towards Healthy Watersheds and Nature
Key Highlights
renewable electricity since March 2022 through TNB GET programme
improvement in water consumption vs 2014 baseline
mono-perc solar panels installed on roof of the Sungei Way Brewery
reduction in Scope 1 and Scope 2 emissions in production vs FY2022 baseline
Fully recycled and upcycled
our production waste since FY2017
water balanced via water stewardship projects
SOCIAL SUSTAINABILITY
Our social sustainability efforts focus on promoting Diversity, Equity and Inclusion (DEI), supporting local communities and ensuring the health and safety of employees and consumers. We strive to create a positive social impact through initiatives that enhance wellbeing, foster safe drinking and empower employees while contributing to societal development through partnerships and community engagement. We aim to align our business practices with global social sustainability standards, driving long-term value for both society and the company.
Material Sustainability Matters
-
Employee Health, Safety and Wellbeing
-
Human Rights and Labour Standards
-
Supply Chain Management
-
Human Capital Development
-
Community Investment and Development
-
Diversity
List of Ambition Areas
- Embrace Inclusion and Diversity
- A Fair and Safe Workplace
- Positive Impact on our Communities
Key Highlights
of women in Board of Directors
of women in Management Team
of training provided to employees
ZERO
fatal accidents and serious injuries
social impact initiatives
RESPONSIBLE CONSUMPTION
We promote responsible consumption by empowering consumers to make informed choices. Our marketing practices align with social responsibility, emphasising moderation through clear messaging and initiatives that promote a balanced lifestyle.
Material Sustainability Matters
-
Product Safety, Quality and Hygiene
-
Responsible Marketing and Consumption
List of Ambition Areas
- Always a Choice
- Address Harmful Use
- Make Moderation Cool
Key Highlights
of Heineken® media spend on promoting responsible consumption
Distributed over
in Grab e-hailing promo codes for consumers through brand and corporate events
GOVERNANCE
HEINEKEN Malaysia maintains a governance structure rooted in ethical conduct and accountability, fostering integrity across all levels of the organisation. These principles guide our daily operations, from frontline employees to senior leadership, ensuring operational excellence, ethical sourcing and supply chain integrity. Together, we build trust and encourage responsible corporate leadership which is essential for success in the competitive brewing industry.
Material Sustainability Matters
-
Regulatory Compliance
-
Corporate Governance and Anti-Corruption
-
Data Privacy and Cybersecurity
-
Risk Management
Key Highlights
ZERO
substantiated non-compliance incidents with applicable laws or regulations
ZERO
substantiated complaints concerning breaches of customer privacy and losses of customer data
employees underwent training on anti-bribery and anti-corruption
ENVIRONMENTAL SUSTAINABILITY
As a responsible corporate citizen, HEINEKEN Malaysia acknowledges the environmental risks posed by climate change and resource scarcity, including high energy and water consumption. In response, we adhere to the highest environmental responsibility standards, ensuring our sustainability claims are substantiated by credible and verifiable data. Our BaBW 2030 ambition guides our efforts with clear, measurable goals to reduce our environmental impact. Through this, we aim to brew responsibly and contribute to a more resilient future.
Material Sustainability Matters
-
Climate Resilience and Energy Efficiency
-
Water Stewardship
-
Waste and Effluent Management
-
Resource Use
ESG Pillars and Ambition Areas
- Reach Net Zero Carbon
- Maximise Circularity
- Towards Healthy Watersheds and Nature
Key Highlights
renewable electricity since March 2022 through TNB GET programme
improvement in water consumption vs 2014 baseline
mono-perc solar panels installed on roof of the Sungei Way Brewery
reduction in Scope 1 and Scope 2 emissions in production vs FY2022 baseline
Fully recycled and upcycled
our production waste since FY2017
water balanced via water stewardship projects
SOCIAL SUSTAINABILITY
Our social sustainability efforts focus on promoting Diversity, Equity and Inclusion (DEI), supporting local communities and ensuring the health and safety of employees and consumers. We strive to create a positive social impact through initiatives that enhance wellbeing, foster safe drinking and empower employees while contributing to societal development through partnerships and community engagement. We aim to align our business practices with global social sustainability standards, driving long-term value for both society and the company.
Material Sustainability Matters
-
Employee Health, Safety and Wellbeing
-
Human Rights and Labour Standards
-
Supply Chain Management
-
Human Capital Development
-
Community Investment and Development
-
Diversity
List of Ambition Areas
- Embrace Inclusion and Diversity
- A Fair and Safe Workplace
- Positive Impact on our Communities
Key Highlights
of women in Board of Directors
of women in Management Team
of training provided to employees
ZERO
fatal accidents and serious injuries
social impact initiatives
RESPONSIBLE CONSUMPTION
We promote responsible consumption by empowering consumers to make informed choices. Our marketing practices align with social responsibility, emphasising moderation through clear messaging and initiatives that promote a balanced lifestyle.
Material Sustainability Matters
-
Product Safety, Quality and Hygiene
-
Responsible Marketing and Consumption
List of Ambition Areas
- Always a Choice
- Address Harmful Use
- Make Moderation Cool
Key Highlights
of Heineken® media spend on promoting responsible consumption
