Asahi Group Holdings FY2022 Financial Results

TOKYO , February 14, 2023 (press release) –

Asahi Group Holdings, Ltd. announces the financial results of fiscal year 2022. Core operating profit (constant currency basis) grew by +5.9% YoY. Net Debt EBITDA Ratio declined to 3.61x at December 31, 2022 compared to 4.24x at Dec. 31, 2021 . Aim to achieve a dividend payout ratio of 40% by 2025.

Key Highlights:

* Revenue grew by +8.0% YoY in total mainly due to increase in sales volume in each region, as well as the positive effect of premiumization and price realization.

* Total sales volume growth of 8% outside their respectively home markets.

Original Press Release:

Tokyo, Japan , Feb. 14 -- Asahi Group issued the following news release:

Asahi Group Holdings, Ltd. announces the financial results of fiscal year 2022.

Key Highlights



* Revenue (constant currency basis) grew by +8.0% YoY in total mainly due to increase in sales volume in each region, as well as the positive effect of premiumization and price realization.



* Core operating profit (constant currency basis) grew by +5.9% YoY mainly due to the increased revenue and various cost efficiencies despite more-than-expected variable costs.



* Adjusted profit[*1] excluding the loss of SCM restructuring was +7.0% YoY.



* The five global brands grew by +7%[*2] YoY in total driven mainly by the top priority brand growth of Asahi Super Dry (+15% YoY), along with Peroni Nastro Azzurro (+13% YoY).



* Net Debt EBITDA　Ratio declined to 3.61x at December 31, 2022 compared to 4.24x at December 31, 2021 . Aim to achieve a dividend payout ratio of 40% by 2025, staying on track for fiscal soundness and other financial measures.



Overview Performance

The Table can be viewed at: (https://www.asahigroup-holdings.com/en/pressroom/2023/0214.html)



Atsushi Katsuki , President & CEO, commented:



“We delivered strong performance in 2022 through flexible pricing strategies, rigorous cost management, and promotion of our “premium strategy” despite a challenging business environment. This result makes us ever more confident in our businesses’ resilience and growth potential. All the regions achieved year-on-year sales growth through implementation of the premium strategy that includes unit price improvement and new value propositions mainly of our core brands, in addition to the recovery of our on-premise channels with the easing of COVID-19 restrictions. In particular, our five global brands, represented by Asahi Super Dry and Peroni Nastro Azzurro, are steadily keeping the trajectory of growth and driving our topline, with total sales volume growth of 8% outside their respective home markets. Although we expect the current uncertainty in the operating environment to persist, there is no change in our commitment to pursue bold strategic investments in line with our Medium-to Long-Term Management Policy.



In line with the Asahi Group’s corporate statement, “Cheer the Future”, we aim to achieve further business growth while also creating a more sustainable tomorrow.”



Footnotes:

[*1] Calculated from profit attributable to owners of parent excluding one-off special factors including business portfolio restructuring and impairment loss.

[*2] Based on sales volumes excluding the home markets

Source: Asahi Group

[Category: Capital Refinance/Restructure, Financial Results]

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