Asahi Group Holdings FY2022 Financial Results

Asahi Group Holdings, Ltd.

(Tokyo, Japan - February 14, 2022) – Asahi Group Holdings, Ltd. announces the financial results of fiscal year 2022.
 

Key Highlights

 
  • Revenue (constant currency basis) grew by +8.0% YoY in total mainly due to increase in sales volume in each region, as well as the positive effect of premiumization and price realization.
  • Core operating profit (constant currency basis) grew by +5.9% YoY mainly due to the increased revenue and various cost efficiencies despite more-than-expected variable costs.
  • Adjusted profit*1 excluding the loss of SCM restructuring was +7.0% YoY.
  • The five global brands grew by +8%*2 YoY in total driven mainly by the top priority brand growth of Asahi Super Dry (+15% YoY), along with Peroni Nastro Azzurro (+13% YoY).
  • Net Debt EBITDA　Ratio declined to 3.61x at December 31, 2022 compared to 4.24x at December 31, 2021. Aim to achieve a dividend payout ratio of 40% by 2025, staying on track for fiscal soundness and other financial measures.

*1 Calculated from profit attributable to owners of parent excluding one-off special factors including business portfolio restructuring and impairment loss.
*2 Based on sales volumes excluding the home markets
 

Overview Performance

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Atsushi Katsuki, President & CEO, commented:

“We delivered strong performance in 2022 through flexible pricing strategies, rigorous cost management, and promotion of our “premium strategy” despite a challenging business environment. This result makes us ever more confident in our businesses’ resilience and growth potential. All the regions achieved year-on-year sales growth through implementation of the premium strategy that includes unit price improvement and new value propositions mainly of our core brands, in addition to the recovery of our on-premise channels with the easing of COVID-19 restrictions. In particular, our five global brands, represented by Asahi Super Dry and Peroni Nastro Azzurro, are steadily keeping the trajectory of growth and driving our topline, with total sales volume growth of 8% outside their respective home markets. Although we expect the current uncertainty in the operating environment to persist, there is no change in our commitment to pursue bold strategic investments in line with our Medium-to Long-Term Management Policy.
In line with the Asahi Group’s corporate statement, “Cheer the Future”, we aim to achieve further business growth while also creating a more sustainable tomorrow.”


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About Asahi Group Holdings

Asahi Group Holdings, Ltd. is a global leader offering a diverse collection of brands centered on beer, alcohol and non-alcohol beverages, and food. Our mission is to deliver on our great taste promise and bring more fun to life. Established in Japan in 1889, the Group has always been committed to innovation and quality. This dedication has brought together iconic brands and the expertise of renowned breweries from around the world, including those with a rich heritage spanning over centuries. Our approach has culminated in a globally recognized portfolio of brands that includes premium beers such as Asahi Super Dry, Peroni Nastro Azzurro, Kozel, Pilsner Urquell, and Grolsch. “Make the world shine” articulates Asahi Group’s commitment to build connections among people, thereby paving the way for a sustainable future together. Through these connections, we can contribute to a brighter world, both today and in the future. With a global presence primarily in Japan, Europe, Oceania, and Southeast Asia, we provide over 10 billion liters of beverages to consumers worldwide and generate revenues of over JPY 2.7 trillion annually. Headquartered in Japan, Asahi Group Holdings is listed on the Tokyo Stock Exchange (Prime Market: 2502.T).

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