Overview of 2015 Financial Results 2016 Business Strategy February 2016

Transcription

1 Overview of 2015 Financial Results 2016 Business Strategy February 2016

2 FY2015 Financial Results (consolidated) (Billions of yen) Summary of Statements of Income FY2015 FY2014 Inc./Dec. YoY Alcoholic Beverages Business % Soft Drinks Business % Foods Business % Overseas Business % Other business % Adjustmenet (corporate and elimination) (93.3) (86.2) (7.1) - Sales 1, , % Alcoholic Beverages Business % Soft Drinks Business (0.8) (3.1%) Foods Business % Overseas Business % Other business % Adjustmenet (corporate/elimination) (18.9) (15.0) (3.9) - Amortization of goodwill (16.3) (19.5) Operating income % Operating income (before goodwill amortization) 1

3 FY2015 Financial Results (Alcoholic Beverage) Asahi Breweries Co., Ltd. <Sales Figures > (Millions of cases) FY2015 FY2014 Inc./Dec. Beer (2.20) Growth rate (2.0%) Happoshu (0.30) Growth rate (1.8%) New Genre Growth rate 0.4% Beer-type beverages total (2.36) Growth rate (1.4%) < Summary of Statements of Income > (Billions of yen) Beer (10.6) Growth rate (1.8%) Happoshu (1.4) Growth rate (2.3%) New Genre Growth rate 0.4% Beer-type beverages total (11.5) Growth rate (1.5%) Other alcoholic beverages total Growth rate 12.4% Non-alcoholic beverages Growth rate 15.2% Other, contracted manufacture, etc Growth rate 3.4% Net Sales Growth rate 0.8% Beer-type - Decrease in sales volume - - (4.0) Beer -3.8, Happoshu -0.4, New genre 0.2 Change in Beer-type - - (0.2) Category mix -0.6, Container mix 0.4 Other alcoholic beverages - increase in sales volume Cost reduction in manufacturing Other alcohol beverages total 2.0 Raw materials 1.2, Utilities 1.1, etc. Cost increase in manufacturing - - (2.4) Raw materials -1.7, Transportation cost -0.3, etc. Increase in sales promotion expense (5.0) Promotion expense -4.7, Advertisement -0.3 Decrease in other expenses Operating Income Growth rate 1.4% 2

4 FY2015 Financial Results (Soft Drinks) Asahi Soft Drinks Co., Ltd. <Sales Figures > (Millions of cases) FY2015 FY2014 Inc./Dec. Carbonated (0.94) Growth rate (1.7%) Fruit juice (0.55) Growth rate (3.4%) Coffee Growth rate 7.4% Tea Growth rate 5.7% Functional Growth rate 5.8% Mineral water Growth rate 12.3% Other drinks (0.10) Growth rate (3.6%) Calpis Growth rate 4.4% Sales of other company's products Growth rate 43.2% Soft drinks beverages total Growth rate 4.6% < Summary of Statements of Income > (Billions of yen) Net Sales Growth rate 3.5% Increase in sales volume Change in production composition - - (1.8) Cost increase - - (2.2) Raw materials -2.2 etc. Cost reduction Raw materials 1.4, Package 0.7, Rate of operation In-house production 0.4 etc. Increase in sales promotion expenses - - (5.4) Promotion expense -5.6, Advertisement 0.3 Decrease in other expenses Expense of vending machine, personal expenses etc. Operating Income (2.2) Growth rate (9.3%) 3

5 FY2015 Financial Results (consolidated) (Billions of yen) Summary of Statements of Income FY2015 FY2014 Inc./Dec. YoY Non-operating income or expenses Income/expense on financing activities (0.9) (1.4) 0.5 Other income/expense, net [Equity in net income of unconsolidated subsidiaries] (Amortization of goodwil: ) [Others] (2.4) (1.8) (0.7) Ordinary income % Extraordinary income or loss (33.2) (4.0) (29.2) Impairment loss (19.9) (23.7) 3.8 Gain related to subsidiaries and affiliates Business integration expeses (8.0) (5.7) (2.4) Loss(gain) on sales and retirement of non current assets (4.1) 12.1 (16.1) Loss(gain) on sales and valuation of investment securities (1.7) 0.6 (2.3) Gain on settlemet package (17.0) Other extraordinary items (3.9) (4.3) 0.3 Income before taxes (16.4) (12.7%) Income taxes (37.6) (60.0) 22.3 Minority interests in net gain of consolidated subsidiaries 1.3 (0.1) 1.4 Net Income % 4

6 FY2016 Financial Targets (consolidated) (Billions of yen) Summary of Statements of Income FY2016 Est. FY2015 Inc./Dec. YoY Alcoholic Beverages Business 1, , % Soft Drinks Business % Foods Business (4.7) (4.0%) Overseas Business (1.5) (0.6%) Others % Adjustmenet (corporate and elimination) (93.1) (90.7) (2.4) - Sales 1, , % Alcoholic Beverages Business % Soft Drinks Business % Foods Business % Overseas Business % Others (0.5) (22.4%) Adjustmenet (corporate/elimination) (20.5) (18.5) (2.1) - Amortization of goodwil (15.0) (16.3) Operating Income % Operating income (before goodwill amortization) 5

7 FY2016 Financial Targets (Alcoholic Beverage) Asahi Breweries Co., Ltd. <Sales Figures > (Millions of cases) FY2016 Est. FY2015 Inc./Dec. Beer Growth rate 2.3% Happoshu (2.30) Growth rate (14.6%) New Genre Growth rate 1.3% Beer-type beverages total Growth rate 0.4% < Summary of Statements of Income > (Billions of yen) Beer Growth rate 2.2% Happoshu (9.0) Growth rate (14.7%) New Genre Growth rate 1.1% Beer-type beverages total Growth rate 0.7% Other alcoholic beverages total Growth rate 6.8% Non-alcoholic beverages Growth rate 2.8% Other, contracted manufacture, etc (3.3) Growth rate (14.3%) Net Sales Growth rate 1.3% Beer-type - Increase in sales volume Beer 4.2, Happoshu -2.9, New genre 0.7 Change in Beer-type Category mix -0.3, Container mix 1.4 Other alcoholic beverages - increase in sales volume Cost reduction in manufacturing Raw materials 0.9, Utilities 0.7, Other alcoholic beverages total 0.7 etc. Cost increase in manufacturing - - (1.8) Raw materials -1.1,Transportation cost -0.4 etc. Increase in sales promotion expense (1.7) Advertisement 1, Promotion expense -1.7 Decrease in other expenses - - (5.6) Operating Income * Growth rate 0.1% *1 Asahi Breweries includes Nikka, Sainte Neige, Satsumatsukasa and Enoteca, which were previously in Other/elimination in segment of Alcoholic beverages business. FY2016 figures includes new consolidation effect of Enoteca (January to March). 6

8 FY2016 Financial Targets (Soft Drinks) Asahi Soft Drinks Co., Ltd. <Sales Figures > (Millions of cases) FY2016 Est. FY2015 Inc./Dec. Carbonated Growth rate 2.1% Fruit juice Growth rate 0.2% Coffee Growth rate 1.1% Tea (0.08) Growth rate (0.2%) Functional Growth rate 3.1% Mineral water Growth rate 1.6% Other drinks (0.25) Growth rate (9.8%) Calpis Growth rate 1.0% Sales of other company's products (0.30) Growth rate (5.3%) Soft drinks beverages total Growth rate 0.9% < Summary of Statements of Income > (Billions of yen) Net Sales Growth rate 0.6% Increase in sales volume Change in production composition Cost increase - - (0.9) Raw materials -0.5, Package -0.4 etc. Cost reduction Raw materials 0.4, Package 0.4, Rate of operation In-house production 1.0 etc. Increase in sales promotion expenses - - (0.5) Promotion expense 0.4, Advertisement -0.9 Decrease in other expenses cost transfer relating integration etc. Operating Income * Growth rate 7.7% *2 Domestic manufacturing business and dairy products business of Calpis are integrated to Asahi Soft Drinks. 7

9 FY2016 Financial Targets (consolidated) (Billions of yen) Summary of Statements of Income FY2016 Est. FY2015 Inc./Dec. YoY Non-operating income or expenses (9.8) Income/expense on financing activities (1.4) (0.9) (0.5) Other income/expense, net (9.3) [Equity in net income of unconsolidated subsidiaries] (9.4) (Amortization of goodwil: ) [Others] (2.4) (2.4) 0.1 Ordinary Income (7.9) (5.4%) Extraordinary income (12.0) (33.2) 21.2 Loss(gain) on sales and valuation of investment securities - (1.7) 1.7 Gain on sales of subsidiaries and affiliates' stocks (4.5) Loss(gain) on sales and retirement of non current assets (5.0) (4.1) (0.9) Business integration expeses - (8.0) 8.0 Impairment loss - (19.9) 19.9 Other extraordinary items (7.0) (3.9) (3.1) Income before taxes % Income taxes (46.0) (37.6) (8.4) Minority interests in net gain of consolidated subsidiaries (1.3) Net Income % *The figures are based on the effect of business integration in January 1,

10 中期経営計画 2015 の総括 Summary of the impact of IFRS introduction (estimate) FY2016 Est. IFRS IFRS adjustment FY2015 J GAAP impact estimate J GAAP Inc./Dec. (Billions of yen) Sales 1,870.0 (160.0) ~ (180.0) ~ ,857.4 (147.4) ~ (167.4) Amortization of goodwill total (consolidated subsidiaries) (15.0) 9.5 (5.5) (16.3) 10.8 Alcoholic Beverages Business (1.3) 1.1 (0.2) (0.9) 0.7 Soft Drinks Business (3.2) 1.3 (1.8) (3.2) 1.3 including sales deductions of promotion expenses etc. Foods Business (0.4) (0.4) 0.4 Non-amortization of goodwill Overseas Business (10.1) 6.6 (3.4) (11.8) 8.3 Oceania Business total (7.1) 4.6 (2.6) (8.2) 5.7 Southeast Asia Business total (3.0) 2.1 (0.9) (3.6) 2.7 Adjustment of depreciation (50.0) (1.0) (51.0) (46.6) (4.4) Difference between J GAAP and IFRS Operating Income * Amortization of goodwill total (unconsolidated subsidiaries) (3.5) (3.5) 3.5 Non-amortization of goodwill Net Income *1 The figures are calculated by adding main impacts of IFRS (amortization of goodwill and depreciation) to J GAAP EPS (in yen) ROE 8.8% 1.9% 10.7% 8.8% 1.9% 9

11 Summary of the impact of IFRS introduction (estimate) <Net Sales> 1 including liquor tax 2 excluding sales promotion incentive <Operating Income> 1 Non-Operating Income or Expenses (excluding Financial Account Balance) and Etraordinary Income or Losses are treated as Operating expenses 2 Gain (loss) on sales or valuation of investment securities are recorded as Other Comprehensive Income 3 Goodwill is not amortized and Tradmark right is armotized continuously <Share of profit (loss) of entitties accounted for using equity method> 1 displayed after Operating Income 10

12 Information in this material is not intended to solicit sale or purchase of shares in Asahi Group Holdings. The views, estimates and other information expressed in this document are based on the company's judgment at the time of publication, and no guarantees are provided regarding the accuracy of such information. This information is subject to change without notice. The company and its officers and representatives accept no responsibility or liability for any damage or inconvenience that may be caused by or in conjunction with any part of these materials.