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Asahi Group Holdings FY2023 Q3 Financial Results

10 Nov. 2023
Asahi Group Holdings, Ltd.

(Tokyo, Japan - November 10, 2023) – Asahi Group Holdings, Ltd. announced the financial results of the third quarter in 2023, for the period of January 1 to September 30.

Key Highlights

  • 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)

Performance Overview

Atsushi Katsuki, President & CEO, commented:

“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.”

Quick Link

FY2023 Q3 Financial Results
FY2023 Q3 Supplementary Information
FY2023 Q3 Financial Results Presentation
Financial Results Briefing