Asahi Group Holdings FY2024 Q3 Financial Results
- Revenue grew +2.2% YoY as revenue increased mainly in Europe and Oceania. This is largely the result of strategic price revisions and our focus on premiumization, both of which are significant factors that contributed to the rise in unit sales prices. Also, revenue on actual currency basis grew +7.2% YoY.
- Core operating profit grew +2.3% YoY. The growth was mainly driven by increased profits in Japan and Europe, counterbalancing decreased profits in Oceania due to lower beer sales volume and higher variable costs. Core operating profit on actual currency basis also grew +7.3% YoY.
- Unit sales price for beer-type beverages and non-alcohol beer categories continued to improve +3.0% YoY in total across three regions in Japan, Europe, and Oceania.
- Total sales volume* of all five global brands grew +8% YoY. Particularly, Asahi Super Dry, a top priority of our global brand portfolio, grew +14% YoY driven mainly by sales expansion in major markets, including South Korea and the UK.
- Forecast for the full year 2024 remains unchanged.
In Japan, the shift in demand towards the beer category following liquor tax revisions continued to contribute to higher earnings. Additionally, increased sales in the ready-to-drink (RTD) alcohol beverage and non-alcohol beer categories also played a significant role. In Europe, the premium category, including non-alcohol beer, acted as a growth driver, and we are continuing to maintain and bolster our competitive advantage in major markets.
Asahi Super Dry, a top priority in our global brand portfolio, saw sales volume growth of +14% YoY outside Japan, as strong sales are maintained in South Korea, the UK, and other markets. Global brands, along with Beer Adjacent Categories, particularly RTD and non-alcohol beer, are progressing on a steady trajectory, in line with the Asahi Group’s business portfolio strategy.
Going forward, we will continue taking steps to achieve our annual financial targets while monitoring market and industry trends across each region. At the same time, we plan to channel investments into our brands and innovation to solidify our core business foundations.”
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).