Supplementary Material on Consolidated Financial Results for the First
Six Months of the Year Ending December 31, 2020
- Summary of Consolidated Statement of Profit or Loss, Indices, etc.
- Revenue Details
- Profit Details
- Summary of Consolidated Statement of Financial Position
- Summary of Consolidated Statements of Cash Flows
- Other Information
Suntory Beverage & Food Limited
August 5, 2020
1. Summary of Consolidated Statement of Profit or Loss, Indices, etc.
(1) Summary of Consolidated Statement of Profit or Loss
(Billions of yen with fractional amounts rounded off) | ||||||||
Six months ended | Six months ended | |||||||
June 30, 2019 | June 30, 2020 | Increase (decrease) | ||||||
Ratio to revenue | Ratio to revenue | |||||||
Revenue | 627.8 | 100.0% | 552.5 | 100.0% | (75.2) | (12.0)% | ||
Gross profit | 259.2 | 41.3% | 225.2 | 40.8% | (34.0) | (13.1)% | ||
Selling, general and administrative | 206.8 | 32.9% | 188.6 | 34.1% | (18.1) | (8.8)% | ||
expenses | ||||||||
Gain on investments accounted for | (0.0) | (0.0)% | (0.1) | (0.0)% | (0.1) | 979.6% | ||
using the equity method | ||||||||
Other income | 0.9 | 0.1% | 1.5 | 0.3% | 0.6 | 73.5% | ||
Other expenses | 2.4 | 0.4% | 2.3 | 0.4% | (0.1) | (3.6)% | ||
Operating income | 50.9 | 8.1% | 35.7 | 6.5% | (15.2) | (29.8)% | ||
Finance income | 0.7 | 0.1% | 0.6 | 0.1% | (0.2) | (20.4)% | ||
Finance costs | 1.7 | 0.3% | 1.2 | 0.2% | (0.5) | (30.9)% | ||
Profit before tax for the period | 49.9 | 8.0% | 35.1 | 6.4% | (14.8) | (29.7)% | ||
Income tax expense | 12.6 | 2.0% | 8.6 | 1.5% | (4.1) | (32.2)% | ||
Profit for the period | 37.3 | 5.9% | 26.6 | 4.8% | (10.7) | (28.8)% | ||
Profit for the period attributable to | 5.5 | 0.9% | 5.6 | 1.0% | 0.1 | 2.0% | ||
non-controlling interests | ||||||||
Profit for the period attributable to | 31.8 | 5.1% | 20.9 | 3.8% | (10.8) | (34.1)% | ||
owners of the Company | ||||||||
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(2) Other Indices
(Billions of yen) | |||||||||
Six months ended | Six months ended | Increase (decrease) | |||||||
June 30, 2019 | June 30, 2020 | ||||||||
Depreciation | 35.6 | 35.3 | (0.3) | (0.8)% | |||||
Operating income | Operating margin | 50.9 | 8.1% | 35.7 | 6.5% | (15.2) | (29.8)% | ||
EBITDA *1 | EBITDA margin | 88.0 | 14.0% | 71.8 | 13.0% | (16.2) | (18.4)% | ||
*1 EBITDA is calculated as operating income - other income + other expenses + depreciation.
(Billions of yen) | ||||
As at December 31, 2019 | As at June 30, 2020 | Increase (decrease) | ||
Total assets | 1,567.3 | 35.8 | 2.3% | |
1,603.1 | ||||
Total equity | 837.6 | 828.9 | (8.7) | (1.0)% |
D/E ratio (Times) *2 | 0.1 | 0.1 | ||
*2 D/E ratio is calculated as (interest-bearing debt - cash and cash equivalents ± valuation difference from adopting hedge accounting, etc.) / total equity.
(3) Exchange Rates for the Consolidation of Profit or Loss of the Major Overseas Companies
(Yen, average exchange rate) | |||
Six months ended | Six months ended | ||
June 30, 2019 | June 30, 2020 | ||
USD | 110.1 | ||
108.2 | |||
EUR | 124.3 | 119.3 | |
GBP | 142.5 | 136.4 | |
SGD | 81.0 | 77.4 | |
THB | 3.5 | 3.4 | |
VND | 0.0047 | 0.0046 | |
NZD | 74.0 | 67.8 | |
AUD | 77.8 | 71.2 | |
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2. Revenue Details
(Billions of yen) | |||||
Increase | |||||
Six months ended | Six months ended | Increase (decrease) | (decrease) | Reference | |
June 30, 2019 | June 30, 2020 | currency | |||
neutral |
Japan | 336.0 | 298.7 | (37.3) |
Europe | 111.1 | 87.7 | (23.5) |
Asia | 115.3 | 104.5 | (10.8) |
Oceania | 25.4 | 23.1 | (2.3) |
Americas | 39.9 | 38.6 | (1.3) |
Reconciliations | - | - | - |
Consolidation total | 627.8 | (75.2) | |
552.5 | |||
(11.1)% (11.1)%
(21.1)% (17.6)%
(9.3)% (7.6)%
(9.2)% (0.8)%
(3.4)% (1.7)%
--
(12.0)% (10.6)%
3. Profit Details
(1) EBITDA
(Billions of yen) | |||||
Increase | |||||
Six months ended | Six months ended | Increase (decrease) | (decrease) | Reference | |
June 30, 2019 | June 30, 2020 | currency | |||
neutral |
Japan | 42.4 | 30.7 | (11.6) |
Europe | 21.2 | 16.2 | (5.0) |
Asia | 18.6 | 20.4 | 1.8 |
Oceania | 4.2 | 3.5 | (0.7) |
Americas | 5.4 | 4.7 | (0.7) |
Reconciliations | (3.8) | (3.8) | 0.0 |
Consolidation total | 88.0 | (16.2) | |
71.8 | |||
(27.5)% (27.5)%
(23.6)% (20.3)%
9.5% 10.2%
(16.0)% (11.7)%
(12.9)% (11.4)%
-
- *1
(18.4)% (17.2)%
*1 "Reconciliations" to segment EBITDA represents overhead costs incurred by the Company to manage the Group's operations and is not allocated to each reportable segment.
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(2) Segment Profit
(Billions of yen) | |||||
Increase | |||||
Six months ended | Six months ended | Increase (decrease) | (decrease) | Reference | |
June 30, 2019 | June 30, 2020 | currency | |||
neutral |
Japan | 22.7 | 11.1 | (11.6) |
Europe | 14.7 | 10.5 | (4.1) |
Asia | 12.7 | 14.7 | 2.0 |
Oceania | 2.6 | 1.9 | (0.7) |
Americas | 3.8 | 2.9 | (0.8) |
Reconciliations | (5.5) | (5.4) | 0.1 |
Consolidation total | 50.9 | (15.2) | |
35.7 | |||
(51.2)% (51.2)%
(28.2)% (25.2)%
15.5% 17.3%
(25.4)% (21.7)%
(22.1)% (20.7)%
-
- *2
(29.8)% (28.5)%
*2 "Reconciliations" to segment profit represents overhead costs incurred by the Company to manage the Group's operations and is not allocated to each reportable segment.
(3) Breakdown of Increase (Decrease) in Segment Profit for Japan Business Segment
(Billions of yen) | |
Segment profit for the six months ended June 30, 2019 | 22.7 |
Decrease in revenue | (37.3) |
Decrease in cost of goods sold | 18.2 |
Decrease in sales promotion and advertising costs | 7.2 |
Decrease in other expenses | 0.4 |
Segment profit for the six months ended June 30, 2020 | 11.1 |
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4. Summary of Consolidated Statement of Financial Position
(Billions of yen) | |||||||
As at | As at | Increase (decrease) | Reference | ||||
December 31, 2019 | June 30, 2020 | ||||||
Cash and cash equivalents | 143.6 | 183.3 | 39.7 | ||||
Trade and other receivables | |||||||
191.2 | 201.5 | 10.3 | |||||
Other financial assets | |||||||
6.2 | 1.8 | (4.4) | |||||
Inventories | |||||||
84.9 | 93.8 | 8.9 | |||||
Other current assets | |||||||
20.3 | 25.3 | 5.0 | |||||
Subtotal | |||||||
446.2 | 505.7 | 59.5 | |||||
Assets held for sale | |||||||
0.1 | 0.0 | (0.1) | |||||
Current assets | 446.3 | 505.7 | 59.3 | ||||
Property, plant and equipment | 372.0 | 364.1 | (8.0) | ||||
Right-of-use assets | |||||||
47.4 | 49.2 | 1.7 | |||||
Goodwill | |||||||
247.9 | 245.0 | (2.8) | |||||
Intangible assets | |||||||
411.4 | 393.4 | (18.0) | |||||
Investments accounted | for using | the | |||||
1.1 | 0.9 | (0.2) | |||||
equity method | |||||||
Other financial assets | 17.2 | 17.0 | (0.2) | ||||
Deferred tax assets | |||||||
14.4 | 17.2 | 2.7 | |||||
Other non-current assets | |||||||
9.6 | 10.7 | 1.1 | |||||
Non-current assets | 1,121.0 | 1,097.5 | (23.5) | ||||
Total assets | 1,567.3 | 1,603.1 | 35.8 | ||||
Bonds and borrowings | 74.7 | 108.5 | 33.9 | *1 | |||
Trade and other payables | |||||||
322.5 | 319.3 | (3.1) | |||||
Other financial liabilities | |||||||
38.4 | 41.1 | 2.6 | |||||
Accrued income taxes | |||||||
18.8 | 16.3 | (2.5) | |||||
Provisions | |||||||
1.5 | 1.7 | 0.2 | |||||
Other current liabilities | |||||||
6.0 | 7.6 | 1.6 | |||||
Current liabilities | 461.9 | 494.5 | 32.6 | ||||
Bonds and borrowings | 132.7 | 144.1 | 11.4 | *2 | |||
Other financial liabilities | |||||||
45.8 | 48.1 | 2.3 | |||||
Post-employment benefit liabilities | |||||||
15.4 | 15.8 | 0.4 | |||||
Provisions | |||||||
2.6 | 2.2 | (0.3) | |||||
Deferred tax liabilities | |||||||
65.8 | 64.0 | (1.8) | |||||
Other non-current liabilities | 5.6 | ||||||
5.5 | (0.0) | ||||||
Non-current liabilities | 267.8 | 279.8 | 11.9 | ||||
Total liabilities | 729.7 | 774.3 | 44.5 | ||||
Total equity attributable to | owners of | the | 756.6 | 746.4 | (10.1) | ||
Company | |||||||
Non-controlling interests | 81.0 | 82.4 | 1.4 | ||||
Total equity | 837.6 | 828.9 | (8.7) | ||||
Total liabilities and equity | 1,567.3 | 35.8 | |||||
1,603.1 | |||||||
*1 The increase is mainly due to the impact of an increase in commercial papers.
*2 The increase is mainly due to the impact of an increase in long-term borrowings.
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5. Summary of Consolidated Statements of Cash Flows
(Billions of yen) | ||||
Six months ended | Six months ended | Increase (decrease) | ||
June 30, 2019 | June 30, 2020 | |||
Profit before tax for the period | 49.9 | 35.1 | (14.8) | |
Depreciation and amortization | ||||
35.6 | 35.3 | (0.3) | ||
Other | ||||
(33.7) | (26.5) | 7.1 | ||
Cash flows from operating activities | 51.9 | 43.9 | (8.0) | |
Payments for capital expenditures | (29.8) | (31.1) | (1.3) | |
Other | ||||
(1.1) | 0.5 | 1.6 | ||
Cash flows from investing activities | (30.9) | (30.7) | 0.2 | |
Increase (decrease) in interest-bearing debt | (48.9) | 43.9 | 92.8 | |
Dividends paid to owners of the Company | ||||
(12.1) | (12.1) | 0.0 | ||
Dividends paid to non-controlling interests | ||||
(2.8) | (3.0) | (0.2) | ||
Other | (0.1) | - | 0.1 | |
Cash flows from financing activities | (63.9) | 28.9 | 92.8 | |
Net increase (decrease) in cash and cash equivalents | (42.9) | 42.1 | 85.0 | |
Effects of exchange rate changes | (0.3) | (2.4) | (2.1) | |
- 6 -
6. Other Information
* On the basis of shipment volumes(Million cases) | |||||
Six months ended June 30, 2019 | Six months ended June 30, 2020 | ||||
Actual | Increase (decrease) | Actual | Increase (decrease) | ||
Suntory Tennensui | 53.2 | (2)% | |||
52.7 | (1)% | ||||
Boss | 53.8 | 5% | 49.5 | (8)% | |
Iyemon | 24.8 | (3)% | 25.1 | 1% | |
Suntory Oolong Tea | 11.7 | (7)% | 9.5 | (18)% | |
Pepsi | 9.8 | 2% | 7.9 | (20)% | |
Green DAKARA | 17.6 | 19% | 18.3 | 4% | |
FOSHU drinks and functional beverages | 11.3 | (1)% | 10.6 | (6)% | |
Total | 215.8 | 1% | 198.8 | (8)% | |
- The portions of the sales volume supplied from other soft drink manufacturers such as Japan Beverage Holdings Inc. are not included in the above figures.
(Million liters) | |||||
Six months ended June 30, 2019 | Six months ended June 30, 2020 | ||||
Actual | Increase (decrease) | Actual | Increase (decrease) | ||
Orangina (France) | 85 | (1)% | |||
74 | (12)% | ||||
Oasis (France) | 139 | (7)% | 124 | (11)% | |
Schweppes (Spain, Portugal) | 60 | 1% | 44 | (27)% | |
Lucozade (UK, Ireland) | 200 | 9% | 181 | (10)% | |
Ribena (UK, Ireland) | 44 | (16)% | 36 | (17)% | |
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Disclaimer
Suntory Beverage & Food Limited published this content on 05 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2020 06:06:12 UTC