Supplementary Material on Consolidated Financial Results for the Fiscal Year Ended December 31, 2016

Transcription

1 Supplementary Material on Consolidated Financial Results for the Fiscal Year Ended <Results for the Fiscal Year Ended > 1. Summary of Consolidated Statements of Income, Indices, etc. 2. Sales Details 3. Profit Details 4. Summary of Consolidated Balance Sheets 5. Summary of Consolidated Statements of Cash Flows 6. Other Information <Earnings Forecast for the Fiscal Year Ending December 31, 2017> 1. Summary of Consolidated Statements of Income, Indices, etc. 2. Sales Details 3. Profit Details 4. Other Information Suntory Beverage & Food Limited February 13, 2017

2 <Results for the Fiscal Year Ended > 1. Summary of Consolidated Statements of Income, Indices, etc. (1) Summary of Consolidated Statements of Income (Billions of yen with fractional amounts rounded off) Ratio to net sales Ratio to net sales Net sales 1, % 1, % % Gross profit % % % Selling, general and administrative expenses % % % Operating income % % % Non-operating income % % (0.4) (13.1%) Non-operating expenses % % (7.3) (58.5%) Ordinary income % % % Extraordinary income % % (12.2) (72.6%) Extraordinary loss % % (7.5) (37.2%) Income before income taxes % % % Income taxes % % (4.0) (11.7%) Net income attributable to noncontrolling interests Net income attributable to owners of the parent % % % % % % (2) Other Indices Depreciation and amortization % Amortization of goodwill % Operating income before amortization of goodwill Net income before amortization of goodwill * % % EBITDA *2 EBITDA margin % % % *1 Net income before amortization of goodwill is Net income attributable to owners of the parent plus Amortization of goodwill. *2 EBITDA is Operating income plus Depreciation and amortization, and Amortization of goodwill

3 Before amortization of goodwill EPS (Yen) % Operating margin 8.6% 8.7% ROE 11.8% 13.2% Dividend payout ratio *3 30.2% 30.2% After amortization of goodwill EPS (Yen) % Operating margin 6.7% 6.6% ROE 7.2% 8.1% Dividend payout ratio *3 49.5% 49.0% *3 The Company calculated the Dividend payout ratio for each fiscal year by dividing the Total cash dividends of that year by Net income attributable to owners of the parent of that year. As of As of Total assets 1, ,366.0 (118.4) (8.0%) Total equity (24.4) (3.9%) Capital expenditures (3.4) (5.3%) D/E ratio (Times) * *4 D/E ratio: (Interest-bearing debt - Cash and deposits) / Total equity (3) Exchange Rates for the Consolidation of Profit or Loss of the Major Overseas Companies (Yen, average exchange rate) USD EUR GBP SGD VND NZD AUD

4 2. Sales Details Increase (decrease) currency neutral Japan % 10.3% Europe (24.8) (9.8%) 4.4% Asia (16.2) (9.0%) 3.5% Oceania (4.8) (10.6%) 0.4% Americas (7.5) (8.0%) 2.4% Overseas (53.4) (9.3%) 3.5% Reconciliations Consolidation total 1, , % 7.7% 3. Profit Details (1) EBITDA Increase (decrease) currency neutral Japan % 14.5% Europe (6.2) (11.6%) 3.4% Asia % 18.5% Oceania (0.8) (11.1%) (1.4%) Americas (1.2) (8.6%) 2.4% Overseas (7.8) (8.1%) 6.2% Reconciliations (1.5) *1 Consolidation total % 11.3% *1 The reconciliations of EBITDA represent a one-time adjustment owing to Japan Beverage Holdings Inc., etc. being newly included in the scope of consolidation

5 (2) Segment Profit Increase (decrease) currency neutral Japan % 17.1% Europe (5.6) (12.8%) 1.9% Asia % 24.8% Oceania (0.7) (12.0%) (2.8%) Americas (1.0) (9.2%) 1.9% Overseas (6.6) (8.9%) 5.6% Reconciliations (28.7) (28.7) *2 Consolidation total % 11.4% *2 The reconciliations of segment profit represent amortization of goodwill, etc. unallocated to each reportable segment. (3) Ordinary Income and Net Income Attributable to Owners of the Parent Non-operating income (0.4) (13.1%) Non-operating expenses (7.3) (58.5%) *3 Ordinary income % Extraordinary income (12.2) (72.6%) *4 Extraordinary loss (7.5) (37.2%) *5 Income taxes (4.0) (11.7%) Net income attributable to noncontrolling interests Net income attributable to owners of the parent *3 The decrease is mainly due to a decrease in equity in losses of affiliates. *4 The decrease is mainly due to a decrease in gain on step acquisitions. *5 The decrease is mainly due to a decrease in impairment loss % % (4) Breakdown of Increase (Decrease) in Segment Profit for Japan Segment Segment profit for the fiscal year ended 46.7 Increase in sales volume 2.8 Change in product mix 3.3 Reduction in manufacturing costs 5.5 Increase in sales promotion and advertising costs (3.5) Increase in other expenses (0.1) Segment profit for the fiscal year ended

6 4. Summary of Consolidated Balance Sheets As of As of Cash and deposits (13.6) Notes and accounts receivable trade , Inventories (7.9) Other Current assets (16.0) Property, plant and equipment (9.1) Goodwill (46.9) *6 Trademarks (37.7) *7 Other (4.5) Intangible fixed assets (89.1) Investments and other assets (4.0) Noncurrent assets 1, (102.2) Deferred assets (0.2) Total 1, ,366.0 (118.4) Notes and accounts payable trade (3.8) Interest-bearing debt (41.4) *8 Other Current liabilities (28.5) Interest-bearing debt (59.5) *9 Other (6.0) Long-term liabilities (65.5) Total liabilities (94.0) Shareholders equity Accumulated other comprehensive income (45.1) *10 Non-controlling interests Total equity (24.4) Total 1, ,366.0 (118.4) *6 The decrease is mainly due to the impact of amortization of goodwill and foreign currency translation related to overseas subsidiaries. *7 The decrease is mainly due to the impact of foreign currency translation related to overseas subsidiaries. *8 The decrease is mainly due to repayments of short-term borrowings. *9 The decrease is mainly due to the impact of the transfer from long-term liabilities (long-term debt) to current liabilities (current portion of long-term debt) and foreign currency translation. *10 The decrease is mainly due to a decrease in foreign currency translation adjustments

7 5. Summary of Consolidated Statements of Cash Flows Income before income taxes Depreciation and amortization Amortization of goodwill Other, net (17.2) (8.6) 8.6 Net cash provided by operating activities Capital expenditures (59.1) (51.8) 7.3 Purchases of investments in subsidiaries and other assets resulting in changes in scope of consolidation (134.3) Payments for transfer of business - (8.1) (8.1) Other, net (2.5) Net cash used in investing activities (188.8) (57.8) in interest-bearing debt 66.6 (78.6) (145.2) Cash dividends (24.2) (25.2) (1.0) Other, net (3.9) (11.7) (7.9) Net cash provided by (used in) financing activities 38.5 (115.5) (154.0) Foreign currency translation adjustments (3.2) (2.1) 1.1 Net decrease in cash and cash equivalents (7.8) (13.6) (5.8) 6. Other Information <Sales Volume in Japan by Product Category> (Million cases) Actual year-to-year Actual year-to-year Mineral water % % RTD coffee % % RTD tea (excl. RTD black tea) % % Cola drinks 26.8 (10%) 25.2 (6%) Carbonates (excl. cola drinks) % 48.7 (4%) Sports drinks, etc (15%) 17.2 (8%) Fruit juices 16.0 (11%) % RTD black tea 8.3 (7%) 7.4 (10%) Others 22.2 (2%) 20.4 (8%) Total % % * The portions of the sales volume by Japan Beverage Holdings Inc. and A-Star Co., Ltd. that were supplied from other soft drink manufacturers are not included in the above figures

8 <Sales Volume of Major Brands in Europe> (Million liters) Actual year-to-year Actual year-to-year Orangina (France) 152 (2%) 152 (0%) Oasis (France) 280 2% 268 (4%) Schweppes (Spain, Portugal) 129 8% 135 5% Lucozade (UK, Ireland) 383 (1%) 401 5% Ribena (UK, Ireland) 110 (10%) 111 1% - 7 -

9 <Earnings Forecast for the Fiscal Year Ending December 31, 2017> 1. Summary of Consolidated Statements of Income, Indices, etc. (1) Summary of Consolidated Statements of Income (Billions of yen with fractional amounts rounded off), Actual December 31, 2017, Forecast Ratio to net sales Ratio to net sales Net sales 1, % 1, % % Gross profit % % % Selling, general and administrative expenses % % % Operating income % % % Non-operating income (loss) (2.3) 0.2% (2.5) 0.2% (0.2) 10.7% Ordinary income % % % Extraordinary income (loss) (8.1) 0.6% (8.0) 0.6% 0.1 (1.1%) Income before income taxes % % % Income taxes % % % Net income attributable to noncontrolling interests Net income attributable to owners of the parent % % % % % % (2) Other Indices, Actual December 31, 2017, Forecast Depreciation and amortization % Amortization of goodwill (0.5) (1.7%) Operating income before amortization of goodwill Net income before amortization of goodwill * % % EBITDA *2 EBITDA margin % % % *1 Net income before amortization of goodwill is Net income attributable to owners of the parent plus Amortization of goodwill. *2 EBITDA is Operating income plus Depreciation and amortization, and Amortization of goodwill. Before amortization of goodwill EPS (Yen) % Operating margin 8.7% 8.8% ROE 13.2% 13.6% Dividend payout ratio *3 30.2% 30.4% - 8 -

10 After amortization of goodwill EPS (Yen) % Operating margin 6.6% 6.9% ROE 8.1% 8.5% Dividend payout ratio *3 49.0% 48.7% *3 The Company calculated the Dividend payout ratio for each fiscal year by dividing the Total cash dividends of that year by Net income attributable to owners of the parent of that year. As of, Actual As of December 31, 2017, Forecast Total assets 1, ,300.0 (66.0) (4.8%) Total equity % Capital expenditures % D/E ratio (Times) * *4 D/E ratio: (Interest-bearing debt - Cash and deposits) / Total equity (3) Exchange Rates for the Consolidation of Profit or Loss of the Major Overseas Companies (Yen, average exchange rate), Actual December 31, 2017, Forecast USD EUR GBP SGD VND NZD AUD Sales Details, Actual December 31, 2017, Forecast Increase (decrease) currency neutral Japan % 0.6% Europe (4.4) (1.9%) 3.8% Asia % 10.1% Oceania % 1.4% Americas % (0.2%) Overseas % 5.0% Reconciliations Consolidation total 1, , % 2.2% - 9 -

11 3. Profit Details (1) EBITDA, Actual December 31, 2017, Forecast Increase (decrease) currency neutral Japan % 3.9% Europe (2.4) (5.1%) 0.9% Asia % 14.2% Oceania % 4.6% Americas % 2.7% Overseas % 4.9% Reconciliations Consolidation total % 4.4% (2) Segment Profit, Actual December 31, 2017, Forecast Increase (decrease) currency neutral Japan % 4.1% Europe (1.9) (4.9%) 1.1% Asia % 22.6% Oceania % 2.0% Americas % 0.1% Overseas % 5.8% Reconciliations (28.7) (28.2) * Consolidation total % 6.4% * The reconciliations of segment profit represent amortization of goodwill unallocated to each reportable segment

12 (3) Ordinary Income and Net Income Attributable to Owners of the Parent, Actual December 31, 2017, Forecast Non-operating income (loss) (2.3) (2.5) (0.2) 10.7% Ordinary income % Extraordinary income (loss) (8.1) (8.0) 0.1 (1.1%) Income taxes % Net income attributable to noncontrolling interests Net income attributable to owners of the parent % % (4) Breakdown of Increase (Decrease) in Segment Profit for Japan Segment Segment profit for the fiscal year ended, Actual 54.7 Increase in sales volume 1.6 Change in product mix 0.5 Reduction in manufacturing costs 3.0 Increase in sales promotion and advertising costs (2.0) Increase in other expenses (0.8) Segment profit for the fiscal year ending December 31, 2017, Forecast Other Information <Sales Volume of Major Brands in Japan> (Million cases) December 31, 2017 Actual Forecast Suntory Tennensui % % Boss % % Iyemon % % Suntory Oolong Tea 25.8 (5%) % Pepsi 25.2 (6%) 24.1 (4%) Orangina 11.2 (15%) 10.2 (9%) Green DAKARA % % FOSHU drinks * % % Total % % *1 FOSHU is the abbreviated form of Food for Specified Health Uses. *2 The portions of the sales volume by Japan Beverage Holdings Inc., etc. that were supplied from other soft drink manufacturers are not included in the above figures