12 May 2023
Asahi Group Holdings, Ltd.

(Tokyo, Japan - May 12, 2023) - Asahi Group Holdings, Ltd. announced the financial results of the first quarter in 2023.

Key Highlights
  • Revenue grew by +7.9% YoY in total driven by price realization in each region mainly through price revisions and premiumization. Also, revenue on actual currency basis grew by +12.0% YoY.
  • Core operating profit　grew by +24.3% YoY. The growth was due mainly to improved cost efficiencies as well as increased revenues achieved through price revisions and various mix improvements despite cost pressures. Core operating profit on actual currency basis also grew +31.0% YoY.
  • All businesses achieved revenue growth, including a steady recovery in business performance in Japan, where in the first quarter, COVID-19 restrictions were lifted for the first time since 2020.
  • Forecast for the full year 2023 remains unchanged.
Performance Overview Atsushi Katsuki, President & CEO, commented:

"We made a good start to 2023, achieving strong first-quarter revenue and core operating profit growth despite significant ongoing cost pressures. We achieved this by advancing our "premium strategy" and by enhancing unit prices through the implementation of prudent pricing strategies. Although many uncertainties remain in the operating environment, especially in how global inflation may play out, we're confident in the resilience and growth potential of our businesses.

We're achieving a steady recovery in business performance in Japan, where in the first quarter, COVID-19 restrictions were lifted for the first time since 2020. In Europe and Oceania as well, demand is solid, particularly in the premium categories, and we achieved revenue growth in all regions.

Asahi Super Dry and Peroni Nastro Azzurro, the top priorities of our global brand portfolio, continue to grow as we enhance and expand their lineups and bolster marketing. The successful launch of the non-alcohol beer, Asahi Super Dry 0.0%, also contributed to the growth of the Asahi Super Dry brand. Asahi Super Dry is the Official Beer of Rugby World Cup France 2023, and we intend to continue engaging in such partnerships with the aim of showcasing the value of our brands to consumers worldwide."

Quick Link

FY2023 Q1 Financial Results
FY2023 Q1 Supplementary Information
FY2023 Q1 Financial Results Presentation
Financial Results Briefing (to be uploaded later)

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Asahi Group Holdings Ltd. published this content on 12 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 May 2023 06:22:10 UTC.