Heineken Malaysia Berhad Income Statement

Financials in millions MYR. Fiscal year is January - December.

Millions MYR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	2,798	2,797	2,638	2,855	1,979
Revenue Growth (YoY)	0.06%	6.03%	-7.61%	44.24%	12.31%
Cost of Revenue	2,180	1,852	1,759	1,889	1,379
Gross Profit	618.16	944.84	878.77	966.09	600.18
Selling, General & Admin	-	356.45	370.04	385.61	273.55
Other Operating Expenses	-	-7.34	-9.57	-15.74	2.71
Operating Expenses	-	349.11	360.46	369.87	276.26
Operating Income	618.16	595.73	518.31	596.22	323.93
Interest Expense	-10.44	-12.61	-8.59	-2.92	-4.06
Interest & Investment Income	-	1.18	1.15	1.19	1.56
EBT Excluding Unusual Items	607.72	584.3	510.88	594.5	321.43
Pretax Income	607.72	584.3	510.88	594.5	321.43
Income Tax Expense	148.37	117.55	124.08	181.68	75.75
Net Income	459.34	466.75	386.8	412.82	245.68
Net Income to Common	459.34	466.75	386.8	412.82	245.68
Net Income Growth	-1.59%	20.67%	-6.30%	68.03%	59.33%
Shares Outstanding (Basic)	302	302	302	302	302
Shares Outstanding (Diluted)	302	302	302	302	302
EPS (Basic)	1.52	1.55	1.28	1.37	0.81
EPS (Diluted)	1.52	1.55	1.28	1.37	0.81
EPS Growth	-1.59%	20.67%	-6.30%	68.03%	59.33%
Free Cash Flow	399.33	438.37	450.52	298.59	241.05
Free Cash Flow Per Share	1.32	1.45	1.49	0.99	0.80
Dividend Per Share	1.520	1.550	1.280	1.380	0.810
Dividend Growth	-1.93%	21.09%	-7.25%	70.37%	58.82%
Gross Margin	22.09%	33.78%	33.31%	33.84%	30.32%
Operating Margin	22.09%	21.30%	19.65%	20.88%	16.36%
Profit Margin	16.41%	16.69%	14.66%	14.46%	12.41%
Free Cash Flow Margin	14.27%	15.67%	17.08%	10.46%	12.18%
EBITDA	701.88	676	583.65	666.12	383.24
EBITDA Margin	25.08%	24.17%	22.13%	23.33%	19.36%
D&A For EBITDA	83.72	80.27	65.34	69.9	59.31
EBIT	618.16	595.73	518.31	596.22	323.93
EBIT Margin	22.09%	21.30%	19.65%	20.88%	16.36%
Effective Tax Rate	24.41%	20.12%	24.29%	30.56%	23.57%
Advertising Expenses	-	5.2	6.96	3.21	27.3

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.