Business Progress Update in View of Delayed FY2025 Q3 Results Announcement
Following the system disruption caused by a cyberattack on September 29, 2025, Asahi Group Holdings, Ltd. (the “Company”) delayed the announcement of its corporate results for the third quarter of fiscal 2025, originally scheduled for November 12, and the date on which those results will be formally announced is yet to be determined (refer to simultaneous disclosure of “Notice Regarding Postponement of Disclosure of Financial Results for the Fiscal Year Ending December 31, 2025” also dated November 27, 2025).
Since the impact of the above-mentioned disruption is confined to systems managed in Japan, the Company is providing this progress report for its Europe and Asia Pacific segments through the end of September 2025 that focuses primarily on revenue performance.
The fiscal 2025 third-quarter results, full-year results, and information relating to the impact of system disruption on overall corporate performance will be disclosed as soon as possible once the systems have been restored and the relevant data confirmed.
Progress Report and Full-year Outlook for Each Business Segment (Constant currency basis)
Europe
Revenue from the Europe segment contracted by 3.0% year on year in the first nine months of fiscal 2025 (January to September 2025). While unit sales prices increased moderately, overall revenue declined due to a sluggish consumption environment and unseasonable weather during the peak sales period in Central and Eastern Europe, which adversely impacted sales volumes in Poland, the Czech Republic, and other markets.
While the revenue result was lower than anticipated, Core Operating Profit is performing roughly to plan driven by an improved product and price mix and lower variable and fixed costs. The Company will continue to strategically invest in its brand portfolio and aim to achieve the planned level of full-year Core Operating Profit.
Furthermore, sales volume growth (approximate values including regions outside Europe) for the Company’s global brands outside their home markets is accelerating, with Asahi Super Dry sales volume increasing by approximately 13% year on year and Peroni Nastro Azzurro sales volume rising by roughly 5% year on year over the nine-month period.
Asia Pacific
Revenue from the Asia Pacific segment increased by 3.1% year on year in the nine months through September 2025.
Despite the fact that revenue from the Alcohol Beverages Business in Oceania declined mainly due to soft market conditions, overall revenue expanded following a year-on-year increase in revenue from the Non-alcohol Beverages Business in Oceania and Southeast Asia.
The overall revenue figure was slightly lower than planned mainly due to the delayed recovery in the broader market. However, Core Operating Profit performed largely to plan, driven by an improved product and price mix and lower raw materials costs. Looking ahead, the Company will aim to achieve its current full-year target for Core Operating Profit by executing appropriate marketing for the upcoming peak sales period to initiate a stronger recovery in demand and thus improve unit sales prices, while also pursuing greater cost efficiencies.
Japan and East Asia
The Company is unable to determine accurate revenue and Core Operating Profit data for the Japan & East Asia segment for the January through September 2025 period due to the system disruption experienced since September 29. However, an October overview for core Japanese operating companies (which also includes a general summary for the month of September) was published in the Asahi Group Sales Performance Overview for October 2025 dated November 13.
Reference: Sales Data for Three Core Operating Companies in Japan for the Month of October
・Asahi Group Foods : Over 70% of previous year’s total
■ Comment from Company President and Group CEO Atsushi Katsuki
I would first like to apologize for the inconvenience that the disruption to our systems has caused to many of our stakeholders.
Core Operating Profit from the Japan & East Asia segment is being negatively impacted by the system disruptions to a certain degree, while profit performance in the Europe and Asia Pacific segments remains largely in line with plan. We cannot avoid this short-term impact on our Japan operations, but we remain confident that our strong fundamentals, underpinned by a robust brand portfolio, are resilient and will prevail.
Furthermore, the reinstatement of various systems is progressing steadily, so we do not intend to amend our medium- to long-term management policy as a result of this system disruption. We remain determined to rigorously strengthen our business portfolio and are continuing to work on measures to improve capital efficiency, including the current share buybacks, as part of our ultimate aim to increase corporate value over the medium to long term.
We kindly ask for and sincerely appreciate your continued support.
Since the impact of the above-mentioned disruption is confined to systems managed in Japan, the Company is providing this progress report for its Europe and Asia Pacific segments through the end of September 2025 that focuses primarily on revenue performance.
The fiscal 2025 third-quarter results, full-year results, and information relating to the impact of system disruption on overall corporate performance will be disclosed as soon as possible once the systems have been restored and the relevant data confirmed.
Progress Report and Full-year Outlook for Each Business Segment (Constant currency basis)
Europe
Revenue from the Europe segment contracted by 3.0% year on year in the first nine months of fiscal 2025 (January to September 2025). While unit sales prices increased moderately, overall revenue declined due to a sluggish consumption environment and unseasonable weather during the peak sales period in Central and Eastern Europe, which adversely impacted sales volumes in Poland, the Czech Republic, and other markets.
While the revenue result was lower than anticipated, Core Operating Profit is performing roughly to plan driven by an improved product and price mix and lower variable and fixed costs. The Company will continue to strategically invest in its brand portfolio and aim to achieve the planned level of full-year Core Operating Profit.
Furthermore, sales volume growth (approximate values including regions outside Europe) for the Company’s global brands outside their home markets is accelerating, with Asahi Super Dry sales volume increasing by approximately 13% year on year and Peroni Nastro Azzurro sales volume rising by roughly 5% year on year over the nine-month period.
Asia Pacific
Revenue from the Asia Pacific segment increased by 3.1% year on year in the nine months through September 2025.
Despite the fact that revenue from the Alcohol Beverages Business in Oceania declined mainly due to soft market conditions, overall revenue expanded following a year-on-year increase in revenue from the Non-alcohol Beverages Business in Oceania and Southeast Asia.
The overall revenue figure was slightly lower than planned mainly due to the delayed recovery in the broader market. However, Core Operating Profit performed largely to plan, driven by an improved product and price mix and lower raw materials costs. Looking ahead, the Company will aim to achieve its current full-year target for Core Operating Profit by executing appropriate marketing for the upcoming peak sales period to initiate a stronger recovery in demand and thus improve unit sales prices, while also pursuing greater cost efficiencies.
Japan and East Asia
The Company is unable to determine accurate revenue and Core Operating Profit data for the Japan & East Asia segment for the January through September 2025 period due to the system disruption experienced since September 29. However, an October overview for core Japanese operating companies (which also includes a general summary for the month of September) was published in the Asahi Group Sales Performance Overview for October 2025 dated November 13.
Reference: Sales Data for Three Core Operating Companies in Japan for the Month of October
・Asahi Breweries : Over 90% of previous year’s total
・Asahi Soft Drinks : Roughly 60% of previous year’s total・Asahi Group Foods : Over 70% of previous year’s total
■ Comment from Company President and Group CEO Atsushi Katsuki
I would first like to apologize for the inconvenience that the disruption to our systems has caused to many of our stakeholders.
Core Operating Profit from the Japan & East Asia segment is being negatively impacted by the system disruptions to a certain degree, while profit performance in the Europe and Asia Pacific segments remains largely in line with plan. We cannot avoid this short-term impact on our Japan operations, but we remain confident that our strong fundamentals, underpinned by a robust brand portfolio, are resilient and will prevail.
Furthermore, the reinstatement of various systems is progressing steadily, so we do not intend to amend our medium- to long-term management policy as a result of this system disruption. We remain determined to rigorously strengthen our business portfolio and are continuing to work on measures to improve capital efficiency, including the current share buybacks, as part of our ultimate aim to increase corporate value over the medium to long term.
We kindly ask for and sincerely appreciate your continued support.
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