Beer war that never was
Ng Wai Mun | 30 Mar 2018 00:30
Lehmann says over the course of 170 years, Carlsberg’s beer taste has been tweaked to cater for consumers’ changing taste
If investors were expecting a beer war of sorts in the near future between Heineken Malaysia Bhd and Carlsberg Brewery Malaysia Bhd, they may be in for a surprise.

Talk of a beer war intensified after the two breweries released their respective financial results for the financial year ended December 2017 on Feb 14. For Q4, Heineken recorded a 6% sales growth while rival Carlsberg’s sales declined by 1%.

Measured by total revenue, Carlsberg’s lower revenue growth in Q4 meant its market share had declined further to 41.2%. This would be the fourth consecutive year in which its share has fallen, based on Q4 revenue.

Carlsberg MD Lars Lehmann explains one would not get an accurate picture of the local beer market if he were to read Carlsberg’s overall revenue as a ratio of Heineken’s revenue.