The firm recently announced its H1FY2026 financial results, reporting a 5.9% year-on-year growth in revenue to RM1.22bn (US$) and 3.1% year-on-year growth in net profits to Rm181.9m (US$).
More importantly, it saw growth return to all areas of its portfolio, where its mainstream sales grew 6%, premium products grew 5% and alcohol-free brews grew 45% - a stark difference to its performance in the first quarter of the year where negative sales performances were reported across the board.
Despite this, Carlsberg Malaysia managing director Stefano Clini stressed that caution is still the name of the game for the firm due to a combination of various challenging factors still looming.
“We are seeing early signs of the 10% increase in excise duty imposed [in Malaysia] last November, impacting [consumer] sentiment and discretionary spending, which remained cautious in the second quarter,” he said at a press event announcing the results.
“We also need to continue to monitor external developments closely, including potential supply chain risks arising from Middle East tensions, [and also] stay focused on disciplined value management, cost optimisation and prudent resource allocation.”
That said, Clini expressed encouragement for the firm’s first-half performance, highlighting plans to continue strategies and initiatives that have yielded positive results thus far.
“For instance, we launched Somersby Apple Light across Malaysia and Singapore in April to offer consumers a lighter, lower-calorie and lower-sugar cider option in line with the growing health and wellness trend,” he said.
“We have also seen strong double-digit growth coming from Sapporo Premium Beer, which has been supported by expansion into more outlets and strong consumer demand.”
Premiumisation push continues
Both Somersby and Sapporo fall under Carlsberg Malaysia’s premium portfolio, and its initiatives with both brands have been in line with the firm’s longstanding premiumisation strategy.
The firm’s chairman Tan Sri Dato’ Chor Chee Heung had recently reaffirmed Carlsberg Malaysia’s focus in this area to ensure ‘sustained return on investment’, and the recent results show that it is serving them well.
Clini also highlighted Sapporo as its best-performing premium brand, and how Carlsberg Malaysia has been directing investment into it.
“The goal has been to reinforce Sapporo’s role as a recognised Japanese lager brand associated with brewing excellence,” he said.
Sapporo recently marked 150 years as the ‘Iconic First Beer of Japan’.
“In Malaysia, consumers are increasingly drawn to premium brands that offer more than quality alone — brands with a strong identity, authentic story and experiences that feel meaningful,” Clini added.
The wider Carlsberg Group recently announced a strategic partnership with Sapporo across Asia, although this did has had no impact on Carlsberg Malaysia’s existing arrangements with the Japanese brand.
Singapore as a challenge
Despite its overall positive performance, the firm was pulled down by negative growth in Singapore where it saw a -4% year-on-year drop in revenue and -21.6% year-on-year decline in profits, cinching Singapore’s status as a challenging market for Carlsberg.
“Singapore reported lower revenue and profit [as any] growth in domestic sales amid weak consumer sentiment was outweighed by lower export sales and the strengthening of the Ringgit Malaysia against the Singapore Dollar,” he said.
In response to this, Carlsberg Malaysia has appointed its former marketing director Olga Pulyaeva as the new Carlsberg Singapore general manager to work specifically on this market.
