Asahi Group Holdings FY2023 Q2 Financial Results

Asahi Group Holdings, Ltd.

　(Tokyo, Japan - August 9, 2023) – Asahi Group Holdings, Ltd. announced the financial results of the second quarter in 2023, for the period of January 1 to June 30.

Key Highlights

• Revenue grew by +5.8% YoY as revenue increased in all regions, mainly attributed to unit price increases driven by premiumization and price revisions. Also, revenue on actual currency basis grew by +8.8% YoY.
• Core operating profit grew by +9.0% YoY. The growth was due mainly to increased revenues and enhanced cost management despite cost pressures. Core operating profit on actual currency basis also grew +13.2% YoY.
• Especially in the Japan Business, its business performance is recovering, and its core operating profit grew by +23.7% YoY owing to the expansion of on-premise and the growth of core brands.
• Asahi Super Dry, a top priority of our global brand portfolio, grew by +24%* YoY driven mainly by sales expansion in major markets in Asia, Europe and Oceania.
• For the full year forecast of 2023, core operating profit, operating profit and profit attributable to owners of parent are upwardly revised mainly due to the strong performance in alcohol beverage business in Japan. Core operating profit is expected to grow by +3.2% YoY against the initial forecast at the beginning of the year. On actual currency basis, core operating profit is also set to rise by +4.2% YoY.

*Based on sales volumes excluding the home market in Japan

Performance Overview

Atsushi Katsuki, President & CEO, commented:

“In the first half of the year, we made a steady growth of revenue and core operating profit, mainly attributed to enhanced average selling prices through the implementation of prudent pricing strategies and our premium strategy. Even in this environment of severe cost pressures, the Asahi Group continues to maintain and expand its competitive advantage in each region, as well as increase profitability.
Especially in Japan, business performance is recovering owing to the expansion of on-premise sales and the growth of core brands. Fueled by the liquor tax revisions in October this year, we will accelerate the growth of the beer category, including the launch of new products.
Furthermore, excluding the home market, Asahi Super Dry, a top priority of our global brand portfolio, saw a +24% YoY growth in sales volume, mainly due to sales expansion in major markets in Asia, Europe and Oceania. Rugby World Cup 2023 France will finally begin in September. Asahi Super Dry is the Official Beer, and we hope this will be an opportunity to showcase the brand’s value to consumers worldwide and share the excitement.”

Quick Link

FY2023 Q2 Financial Results
FY2023 Q2 Supplementary Information
FY2023 Q2 Financial Results Presentation
Financial Results Briefing