Asahi Group Holdings FY2023 Q3 Financial Results
- Revenue grew +6.1% YoY as revenue increased in all regions, mainly attributed to unit sales price increases driven by price revisions and premiumization. Also, revenue on actual currency basis grew +9.4% YoY.
- Core operating profit grew +8.6% 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 +12.9% YoY.
- Unit sales price for beer-type beverages in each region improved +9.5% YoY in Japan, +15.6% YoY in Europe, and +3.1% YoY in Australia.
- Asahi Super Dry, a top priority of our global brand portfolio, grew +37%* YoY driven mainly by sales expansion in major markets in Asia, Europe and Oceania.
- Forecast for the full year 2023 remains unchanged.
- *Based on sales volumes excluding the home market (Japan)
“In our business performance from January to September, our revenue and core operating profit grew steadily, mainly attributed to sustained unit sales price increases driven by price revisions and premiumization. We continue to observe substantial unit sales price improvements in each region. In particular, our unit sales price for beer-type beverages improved +9.5% YoY in Japan, and grew +15.6% YoY in Europe. Although we are not optimistic about our business conditions amidst the backdrop of large cost increases and changes in consumer trends, the Asahi Group continues to invest in its brands to maintain and expand our competitive advantages in each region.
Excluding the home market, Asahi Super Dry saw a +37% YoY growth in sales volumes, mainly due to sales expansion in the major markets of Asia, Europe and Oceania. We will continue to accelerate the brand’s growth through sports partnerships and other initiatives on a global scale.”
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).