Supplementary Material on Consolidated Financial Results for the First Nine Months of the Fiscal Year Ending December 31, 2017

Transcription

1 Supplementary Material on Consolidated Financial Results for the First Nine Months of the Fiscal Year Ending December 31, 2017 <Results for the First Nine Months of the Fiscal Year Ending December 31, 2017> 1. Summary of Consolidated Statements of Income, Indices, etc. 2. Sales Details 3. Profit Details 4. Summary of Consolidated Balance Sheets 5. 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 November 2, 2017

2 <Results for the First Nine Months of 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) Ratio to net sales Ratio to net sales Net sales 1, % 1, % % Gross profit % % % Selling, general and administrative expenses % % % Operating income % % % Non-operating income % % % Non-operating expenses % % % Ordinary income % % % Extraordinary income % % % Extraordinary loss % % (4.3) (47.7%) Income before income taxes % % % Income taxes % % % 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. Operating margin Before amortization of goodwill After amortization of goodwill 9.0% 9.0% 7.0% 7.0% As of December 31, 2016 As of Total assets 1, , % Total equity % D/E ratio (Times) * *3 D/E ratio: (Interest-bearing debt - Cash and deposits) / Total equity - 1 -

3 (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 Sales Details Japan % 1.5% Europe % 2.4% Asia % 5.2% Oceania % (1.6%) Americas % (0.2%) Reconciliations Consolidation total 1, , % 1.9% been changed to Japan business, Europe business, Asia business, Oceania business and Americas business. The sales details for the first nine months of 2016 have been restated to reflect the revised reportable segment classification. 3. Profit Details (1) EBITDA Japan % 2.8% Europe (1.0) (2.4%) (2.7%) Asia % 14.6% Oceania (0.1) (1.4%) (6.0%) Americas (0.1) (1.4%) (4.3%) Reconciliations (5.8) (6.2) (0.5) - - *1 Consolidation total % 1.8% *1 The reconciliations of EBITDA represent corporate expenses unallocated to each reportable segment. been changed to Japan business, Europe business, Asia business, Oceania business and Americas business. In addition, the Group administration costs that previously were allocated to each reportable segment are now recorded in reconciliations as corporate expenses. The profit details for the first nine months of 2016 have been restated to reflect the revised reportable segment classification and the method of calculating profit of reportable segments

4 (2) Segment Profit Japan % 5.1% Europe (1.5) (4.6%) (4.9%) Asia % 16.2% Oceania (0.2) (5.7%) (9.6%) Americas (0.4) (4.7%) (7.5%) Reconciliations (27.4) (28.2) (0.8) - - *2 Consolidation total % 2.1% *2 The reconciliations of segment profit represent amortization of goodwill and corporate expenses unallocated to each reportable segment. been changed to Japan business, Europe business, Asia business, Oceania business and Americas business. In addition, the Group administration costs that previously were allocated to each reportable segment are now recorded in reconciliations as corporate expenses. The profit details for the first nine months of 2016 have been restated to reflect the revised reportable segment classification and the method of calculating profit of reportable segments. (3) Ordinary Income and Net Income Attributable to Owners of the Parent Non-operating income % Non-operating expenses % Ordinary income % Extraordinary income % Extraordinary loss (4.3) (47.7%) *3 Income taxes % Net income attributable to noncontrolling interests Net income attributable to owners of the parent % % *3 The decrease is mainly due to decreases in losses from a natural disaster and restructuring cost. (4) Breakdown of (Decrease) in Segment Profit for Japan Business Segment Segment profit for the nine months ended 45.4 in sales volume 5.8 Change in product mix (3.1) Reduction in manufacturing costs 3.0 in sales promotion and advertising costs (1.5) in other expenses (1.8) Segment profit for the nine months ended

5 4. Summary of Consolidated Balance Sheets As of December 31, 2016 As of Cash and deposits Notes and accounts receivable trade *4 Inventories Other Current assets Property, plant and equipment (1.3) Goodwill (8.3) Trademarks Other (2.1) Intangible fixed assets (1.5) Investments and other assets Noncurrent assets (0.5) Deferred assets (0.0) Total 1, , Notes and accounts payable trade *4 Interest-bearing debt Other Current liabilities Interest-bearing debt (28.1) *5 Other Long-term liabilities (21.8) Total liabilities Shareholders equity Accumulated other comprehensive income *6 Noncontrolling interests Total equity Total 1, , *4 The increase is mainly due to seasonal fluctuations on December 31 and September 30. *5 The decrease is mainly due to the transfer from long-term liabilities (long-term debt) to current liabilities (current portion of long-term debt). *6 The increase is mainly due to an increase in foreign translation adjustments

6 5. Other Information <Sales Volume of Major Brands in Japan Business> (Million cases) Suntory Tennensui % % Boss % % Iyemon % % Suntory Oolong Tea 19.6 (5%) % Pepsi 19.5 (5%) 17.1 (12%) Orangina 9.1 (17%) 6.4 (29%) Green DAKARA % % FOSHU drinks % 20.0 (5%) Total % % * 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. <Sales Volume of Major Brands in Europe Business> (Million liters) Orangina (France) 120 (2%) 126 5% Oasis (France) 211 (5%) 215 2% Schweppes (Spain, Portugal) 104 6% 107 2% Lucozade (UK, Ireland) 305 4% 291 (5%) Ribena (UK, Ireland) 84 (1%) 81 (4%) - 5 -

7 <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 Ratio to net sales Revised Ratio to net sales (Billions of yen with fractional amounts rounded off) (February 13) Net sales 1, % 1, % % Gross profit % % % Selling, general and administrative expenses % % % Operating income % % % Non-operating income (loss) (2.3) 0.2% (5.0) 0.3% (2.5) (2.7) 121.5% Ordinary income % % (2.5) % Extraordinary income (loss) (8.1) 0.6% (5.5) 0.4% (32.0%) Income before income taxes % % % Income taxes % % % Net income attributable to noncontrolling interests % % % Net income attributable to owners of the parent % % % - 6 -

8 (2) Other Indices Revised (February 13) Depreciation and amortization (0.1) % 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. Before amortization of goodwill EPS (Yen) % Operating margin 8.7% 8.8% ROE 13.2% 13.3% Dividend payout ratio *3 30.2% 30.0% After amortization of goodwill EPS (Yen) % Operating margin 6.6% 6.8% ROE 8.1% 8.2% 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. (3) Exchange Rates for the Consolidation of Profit or Loss of the Major Overseas Companies Revised (Yen, average exchange rate) Previous (February 13) USD EUR GBP SGD VND NZD AUD

9 2. Sales Details Revised (August 7) Japan % 0.6% Europe % 1.3% Asia % 6.0% Oceania % (3.3%) Americas % (2.1%) Reconciliations Consolidation total 1, , % 1.0% been changed to Japan business, Europe business, Asia business, Oceania business and Americas business. In line with this change, the actual figures for the fiscal year ended December 31, 2016 have been restated to reflect the revised reportable segment classification. 3. Profit Details (1) EBITDA Revised (August 7) Japan (2.9) % 1.4% Europe % (1.5%) Asia % 18.2% Oceania % (1.0%) Americas (1.2) (0.6) (4.0%) (6.9%) Reconciliations (7.9) (9.4) (0.6) (1.5) - - *1 Consolidation total % 1.4% *1 The reconciliations of EBITDA represent corporate expenses unallocated to each segment. been changed to Japan business, Europe business, Asia business, Oceania business and Americas business. In addition, the Group administration costs that previously were allocated to each reportable segment are now recorded in reconciliations as corporate expenses. In line with this change, the actual figures for the fiscal year ended December 31, 2016 have been restated to reflect the revised reportable segment classification and the method of calculating profit of reportable segments

10 (2) Segment Profit Revised (August 7) Japan % 4.5% Europe % (2.4%) Asia % 21.7% Oceania (0.4) (0.3) (4.3%) (9.5%) Americas (1.1) (0.9) (9.0%) (11.7%) Reconciliations (36.7) (38.7) (1.7) (2.0) - - *2 Consolidation total % 2.5% *2 The reconciliations of segment profit represent amortization of goodwill and corporate expenses unallocated to each reportable segment. been changed to Japan business, Europe business, Asia business, Oceania business and Americas business. In addition, the Group administration costs that previously were allocated to each reportable segment are now recorded in reconciliations as corporate expenses. In line with this change, the actual figures for the fiscal year ended December 31, 2016 have been restated to reflect the revised reportable segment classification and the method of calculating profit of reportable segments. (3) Ordinary Income and Net Income Attributable to Owners of the Parent Revised (February 13) Non-operating income (loss) (2.3) (5.0) (2.5) (2.7) 121.5% Ordinary income (2.5) % Extraordinary income (loss) (8.1) (5.5) (32.0%) Income taxes % Net income attributable to noncontrolling interests Net income attributable to owners of the parent % % (4) Breakdown of (Decrease) in Segment Profit for Japan Segment Segment profit for the fiscal year ended (August 7) in sales volume Change in product mix (3.7) (4.2) Reduction in manufacturing costs in sales promotion and advertising costs (1.9) 0.1 in other expenses (1.9) (1.4) Segment profit for the fiscal year ending Forecast

11 4. Other Information <Sales Volume of Major Brands in Japan Business> December 31, 2016 December 31, 2017 Revised (Million cases) (February 13) Suntory Tennensui % % 2.0 Boss % % 2.0 Iyemon % % 0.2 Suntory Oolong Tea 25.8 (5%) % - Pepsi 25.2 (6%) 21.0 (17%) (3.1) Orangina 11.2 (15%) 8.0 (29%) (2.2) Green DAKARA % % 4.0 FOSHU drinks % 26.0 (7%) (2.4) Total % % 7.0 * 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