Asahi Group Holdings H1 2026 Financial Results
- Revenue increased 7.7% YoY and declined 0.6% YoY on a constant currency basis.
- Core operating profit increased 1.5% YoY and declined 8.5% YoY on a constant currency basis.
- Total sales volume of our global brands grew, with Asahi Super Dry up 31% YoY and Peroni Nastro Azzurro up 7% YoY. *
- Sales unit price of beer, beer-like beverages and non-alcohol adult beverages (beer taste) categories rose 2.5% YoY, reflecting progress in premiumization.
- Forecast for the full year remains unchanged, with revenue forecast to increase 11.2% YoY (5.4% on a constant currency basis), and core operating profit forecast to increase 10.6% YoY (3.2% on a constant currency basis).
“The market environment in the first half of 2026 was challenging, with the lingering impact of the system disruption in Japan and softer demand across Europe and Asia-Pacific. Nevertheless, we performed ahead of plan through the continued execution of our premiumization strategy and earnings structure reforms, and achieved year-on-year increases in both revenue and core operating profit. Our global brands, Asahi Super Dry and Peroni Nastro Azzurro, continued to deliver strong growth.
Looking ahead to the second half, we remain committed to delivering our full-year plan. We will continue to drive business recovery by strengthening the beer category in Japan and leveraging opportunities arising from the upcoming Liquor Tax revision, while advancing our premiumization strategy and earnings structure reforms across all regions. We also expect to complete the acquisition of Diageo’s East African business, which will provide us with a new platform to support our medium- to long-term growth.”