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    2502   JP3116000005

ASAHI GROUP HOLDINGS, LTD.

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Asahi : Japan beermaker Asahi looks to halve debt after buying Australia assets

04/09/2021 | 01:01am EDT
FILE PHOTO: Asahi Super Dry beer cans are displayed at the Asahi Group Holdings headquarters in Tokyo

TOKYO (Reuters) - Japan's Asahi Group Holdings said it will aim to halve its debt and forego overseas investments after spending $11 billion to buy the Australian operations of Anheuser-Busch InBev.

"Basically, we are not considering any large-scale acquisitions," said Atsushi Katsuki, who became Asahi's new chief executive in March.

The owner of brands including Asahi Super Dry, Peroni and Pilsner Urquell will aim to reduce its debt to EBITDA (earnings before interest, taxes, depreciation and amortization) to three times from six at the end of December.

Asahi won regulatory approval last year to buy the Australian brands Carlton & United Breweries (CUB) after agreeing to sell other assets in the country. Katsuki previously led Asahi's operations in Australia and Oceania before becoming its chief financial officer in 2019.In mature markets like Japan and Europe, Katsuki told Reuters he wanted to "premiumize" products: selling drinks at higher prices as shrinking populations mean that high volume sales may no longer be possible.

In Japan, Asahi has been hit harder than rivals by the COVID-19 pandemic due to its dependence on keg sales to restaurants and bars - many of which have struggled amid the prolonged crisis. Even so, the company in February forecast its full-year operating profit will exceed levels seen in 2019.

(Reporting by Rocky Swift and Yuki Nitta in Tokyo; Editing by Ana Nicolaci da Costa)

By Yuki Nitta and Rocky Swift


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ANHEUSER-BUSCH INBEV -0.86% 61.42 Real-time Quote.8.67%
ASAHI GROUP HOLDINGS, LTD. 2.54% 5161 End-of-day quote.21.61%
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Financials
Sales 2021 2 276 B 20 871 M 20 871 M
Net income 2021 158 B 1 451 M 1 451 M
Net Debt 2021 1 620 B 14 851 M 14 851 M
P/E ratio 2021 16,2x
Yield 2021 2,17%
Capitalization 2 550 B 23 355 M 23 384 M
EV / Sales 2021 1,83x
EV / Sales 2022 1,72x
Nbr of Employees 29 850
Free-Float 93,4%
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Asahi Group Holdings, Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends ASAHI GROUP HOLDINGS, LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Average target price 5 530,00 JPY
Last Close Price 5 033,00 JPY
Spread / Highest target 27,2%
Spread / Average Target 9,87%
Spread / Lowest Target -5,62%
EPS Revisions
Managers and Directors
NameTitle
Atsushi Katsuki President, CEO & Representative Director
Akiyoshi Koji Chairman
Tatsuro Kosaka Independent Outside Director
Yasushi Shingai Independent Outside Director
Christina L Ahmadjian Independent Outside Director
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