Asahi Group Holdings FY2023 Q1 Financial Results
Asahi Group Holdings, Ltd.
(Tokyo, Japan - May 12, 2023) – Asahi Group Holdings, Ltd. announced the financial results of the first quarter in 2023.
Key Highlights
- Revenue grew by +7.9% YoY in total driven by price realization in each region mainly through price revisions and premiumization. Also, revenue on actual currency basis grew by +12.0% YoY.
- Core operating profit grew by +24.3% YoY. The growth was due mainly to improved cost efficiencies as well as increased revenues achieved through price revisions and various mix improvements despite cost pressures. Core operating profit on actual currency basis also grew +31.0% YoY.
- All businesses achieved revenue growth, including a steady recovery in business performance in Japan, where in the first quarter, COVID-19 restrictions were lifted for the first time since 2020.
- Forecast for the full year 2023 remains unchanged.
Performance Overview
Atsushi Katsuki, President & CEO, commented:
“We made a good start to 2023, achieving strong first-quarter revenue and core operating profit growth despite significant ongoing cost pressures. We achieved this by advancing our “premium strategy” and by enhancing unit prices through the implementation of prudent pricing strategies. Although many uncertainties remain in the operating environment, especially in how global inflation may play out, we’re confident in the resilience and growth potential of our businesses.
We’re achieving a steady recovery in business performance in Japan, where in the first quarter, COVID-19 restrictions were lifted for the first time since 2020. In Europe and Oceania as well, demand is solid, particularly in the premium categories, and we achieved revenue growth in all regions.
Asahi Super Dry and Peroni Nastro Azzurro, the top priorities of our global brand portfolio, continue to grow as we enhance and expand their lineups and bolster marketing. The successful launch of the non-alcohol beer, Asahi Super Dry 0.0%, also contributed to the growth of the Asahi Super Dry brand. Asahi Super Dry is the Official Beer of Rugby World Cup France 2023, and we intend to continue engaging in such partnerships with the aim of showcasing the value of our brands to consumers worldwide.”
Quick Link
FY2023 Q1 Financial Results
FY2023 Q1 Supplementary Information
FY2023 Q1 Financial Results Presentation
Financial Results Briefing
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).