This flash report is unaudited and the translation of the Japanese language version.
Consolidated Financial Summary for
the Second Quarter Ended June 30, 2022 (IFRS)
August 10, 2022 | ||
Listed company name: Coca-Cola Bottlers Japan Holdings Inc. | Listed stock exchanges: Tokyo | |
Code number: 2579 | URL: https://en.ccbj-holdings.com/ | |
Delegate: | Title: Representative Director & President | Name: Calin Dragan |
Contact: | Title: Head of Controllers Senior Group Division, Finance, Name: Ishikawa Tatsuhiro Phone: +81-3-6896-1707 |
Expected date of quarterly report submission: August 12, 2022
Schedule for dividends payment: September 1,2022
Preparation of supplementary materials on quarterly financial results: Yes
Holding of quarterly financial results conference: Yes
(Fractions of one million yen are rounded off)
1. Consolidated financial results for the second quarter 2022 (from January 1, 2022 to June 30, 2022)
- Consolidated financial results (year-to-date)
(Percentages indicate changes over the same period in the prior fiscal year)
Net income (loss) | |||||||||||||||||||||||||||
Revenue | Business income (loss) Operating income | Net income (loss) | attributable to owners of Total comprehensive | ||||||||||||||||||||||||
the parent | income (loss) | ||||||||||||||||||||||||||
million yen | % | million yen | % | million yen | % | million yen | % | million yen | % | million yen | % | ||||||||||||||||
2nd Quarter, 2022 | 375,948 | 1.8 | (18,221) | - | (14,431) | - | (9,896) | - | (9,899) | - | (8,177) | - | |||||||||||||||
2nd Quarter, 2021 | 369,309 | (1.4) | (14,799) | - | (18,250) | - | (367) | - | (354) | - | 3,136 | - | |||||||||||||||
Earnings (Loss) per share | Diluted earnings per share | ||||||||||||||||||||||||||
yen | yen | ||||||||||||||||||||||||||
2nd Quarter, 2022 | (55.20) | - | |||||||||||||||||||||||||
2nd Quarter, 2021 | (1.98) | ||||||||||||||||||||||||||
- |
*1."Business Income" is a measure of our recurring business performance that is calculated as costs of goods and selling, general and administrative expenses are deducted from revenue, and other income and expenses which we believe are recurring in nature are added and subtracted accordingly.
2. Net income and Net income attributable to owners of parent for second quarter 2021 results is a total of continuing operation and discontinued operation results.
(2) Consolidated financial position
Total assets | Total equity | Equity attributable to parent owners | Ratio of equity attributable to | ||
parent owners | |||||
million yen | million yen | million yen | % | ||
Jun. 30, 2022 | 841,250 | 479,136 | 479,002 | 56.9 | |
Dec. 31, 2021 | 867,111 | 492,451 | 492,320 | 56.8 |
2. Dividends
Dividends per share | |||||
First quarter | Second quarter | Third quarter | Fiscal year | Total | |
yen | yen | yen | yen | yen | |
FY ended December, 2021 | - | 25.00 | - | 25.00 | 50.00 |
FY ending December, 2022 | - | 25.00 |
FY ending December 2022 | - | 25.00 | 50.00 | ||
(forecast) | |||||
Note: Revisions to the cash dividends forecasts most recently announced: None |
3. Forecast for consolidated financial results 2022 (With January 1, 2022 to December 31, 2022)
(Percentages indicate changes over the same period in the prior fiscal year)
Net income (loss) | Earnings per | |||||||||||||
Revenue | Business income (loss) | Operating income (loss) | Net income (loss) | attributable to owners of the | ||||||||||
parent | share | |||||||||||||
million yen | % | million | % | million yen | % | million yen | % | million yen | % | yen | ||||
yen | ||||||||||||||
Full-year of 2022 | 819,700 | 4.3 | (14,600) | - | (11,100) | - | (7,900) | - | (7,900) | - | (44.05) | |||
Note: Revisions to the forecasts of consolidated operating results most recently announced: None |
Notes | ||
(1) Changes in significant subsidiaries during the current period: | None | |
(2) Changes in accounting policies and changes in accounting estimates: | ||
1) | Changes in accounting policies as required by IFRS: | None |
2) | Changes other than the accounting policies in 1) above: | None |
3) | Changes in accounting estimates: | Yes |
- For details, please refer to "2. Condensed Consolidated Financial Statements and Notes (5) Notes to Condensed Consolidated Financial Statements (Changes in Accounting Estimates)" on page 14 of the attached materials.
- Number of outstanding shares (common shares)
1) The number of outstanding shares (including treasury shares):
2nd Quarter, June 2022: | 206,268,593 shares |
FY Ended December 2021: | 206,268,593 shares |
2) The number of treasury shares: | |
2nd Quarter, June 2022: | 26,926,550 shares |
FY Ended December 2021: | 26,924,631 shares |
3) The number of average shares outstanding: | |
2nd Quarter, June 2022: | 179,343,239 shares |
2nd Quarter, June 2021: | 179,347,011 shares |
- The consolidated financial summary is not subject to quarterly review procedures conducted by certified public accountant or audit firm.
- Explanation regarding appropriate use of the forecast, other special instructions
Figures in the above forecast are based on information available at the time of issuance of this report, and the actual results may be changed materially due to a number of inherent uncertainties in the forecast. Furthermore, please refer to "1. Qualitative Information on the Financial Summary for this Quarter (3) Qualitative Information on the Future Outlook, such as Forecast of Consolidated Financial Results" on page 5 for matters relating to performance forecasts.
Table of Contents | ||
1. Qualitative Information on the Financial Summary for this Quarter ..................................................................................................... | 2 | |
(1) | Qualitative Information on Consolidated Financial Results............................................................................................................. | 2 |
(2) | Qualitative Information on Consolidated Financial Position ........................................................................................................... | 5 |
(3) | Qualitative Information on the Future Outlook, such as Forecast of Consolidated Financial Results ............................................. | 5 |
2. Condensed Consolidated Financial Statements and Notes .................................................................................................................... | 6 | |
(1) | Condensed Consolidated Statement of Financial Position............................................................................................................... | 6 |
(2) | Condensed Consolidated Statements of Income and Comprehensive Income................................................................................. | 8 |
(3) | Condensed Consolidated Statements of Changes in Equity........................................................................................................... | 10 |
(4) | Condensed Consolidated Statements of Cash Flows...................................................................................................................... | 12 |
(5) | Notes to Condensed Consolidated Financial Statements ............................................................................................................... | 14 |
(Notes Relating to Going Concern Assumption) ............................................................................................................................. | 14 | |
(Changes in Accounting Estimates) ................................................................................................................................................. | 14 | |
(Segment Information) .................................................................................................................................................................... | 14 |
1
1. Qualitative Information on the Financial Summary for this Quarter
- Qualitative Information on Consolidated Financial Results
Coca-Cola Bottlers Japan Holdings Inc. ("CCBJH," the "Company," or "we") announced second quarter results for the fiscal year ending December 31, 2022 (January 1, 2022, to June 30, 2022).
In this year-to-date second quarter (January 1 to June 30, 2022, hereinafter referred to as "first half"), the domestic total nonalcoholic ready-to-drink (NARTD) beverage industry is estimated to have grown by about 4% compared to the previous year on volume basis. This was due to an increase in demand from the recovery in traffic since the late-March when various government measures to prevent the spread of COVID-19 were eased, with the addition of the effects of the early end to the rainy season and the heat wave in late-June. However, the business environment remains uncertain and challenging due to changes in consumer purchasing behavior, continued severe competition, rising global commodity prices, and the rapid yen depreciation.
Under these circumstances, we have positioned 2022 as the "year of building a foundation for sustainable growth" and have been working to build a foundation for steady and sustainable growth and to promote further transformation. For commercial activities, we worked to grow sales volume and sales revenue by launching new products, responding to diversifying consumer needs, and executing effective campaigns to capture the recovery in traffic. In addition, as part of our margin focused pricing strategy, in May we implemented the price revision for large PET. In manufacturing and supply chain fields, while faced with the rising commodity prices, we worked to build a supply chain network that will serve as a foundation for sustainable growth. In July, the Akashi Mega DC, one of the largest automated distribution centers by storage and shipping capacity in Japan, began its operation on a large scale. In addition, we have strengthened coordination between the sales and supply chain areas by revamping the S&OP (Sales and Operations Planning) process and have worked to build a supply chain that can respond agilely to sudden changes in demand.
Activities to realize ESG targets based on creating shared value with society includes our work towards the increased use of sustainable materials in PET bottles and expanding label-less products. In the second quarter, as part of our efforts to achieve the Coca-Cola system's "2030 Packaging Vision," we worked with local governments and partner companies to establish a steady packaging collection and recycling scheme. We are also working on the pilot sales of shrink labels attached PET bottle products made from recycled PET bottle materials through chemical recycling.
Details for the first half earnings are as follows. Please also refer to our earnings presentation material posted on the Company IR website (https://en.ccbj-holdings.com/ir/library/presentation.php) to be used in our earnings conference call on Friday, August 12, 2022 at 1:30 PM (JST). Which will include details of the first half results and full year outlook. The earnings presentation audio will be available live and on demand as an audio webcast on our company website.
2
Summary of Consolidated Financial Results
(Millions of yen, excluding sales volume)
First half (January 1 to June 30)
2021 | 2022 | Change | |
(%) | |||
Revenue | 369,309 | 375,948 | 1.8 |
Sales volume (million cases) | 217 | 224 | 4 |
Gross Profit | 163,269 | 163,138 | (0.1) |
Selling, General & Administrative Expenses | 177,295 | 181,275 | 2.2 |
Other income (Recurring) | 415 | 521 | 25.4 |
Other expenses (Recurring) | 1,055 | 666 | (36.9) |
Investment income (loss) on equity method | (133) | 61 | - |
Business Income (Loss) | (14,799) | (18,221) | - |
Other income (Non-recurring) | 4,601 | 6,658 | 44.7 |
Other expenses (Non-recurring) | 8,053 | 2,868 | (64.4) |
Operating Income (Loss) | (18,250) | (14,431) | - |
Net Income (Loss) Attributable to Owners of the Parent | (354) | (9,899) | - |
(Millions of yen, excluding sales volume) | |||
(For reference) Q2 (April 1 to June 30) | |||
2021 | 2022 | Change | |
(%) | |||
Revenue | 200,909 | 207,095 | 3.1 |
Sales volume (million cases) | 120 | 124 | 3 |
Gross Profit | 89,108 | 91,127 | 2.3 |
Selling, General & Administrative Expenses | 91,869 | 96,383 | 4.9 |
Other income (Recurring) | 216 | 223 | 3.2 |
Other expenses (Recurring) | 664 | 478 | (28.1) |
Investment income on equity method | 6 | 39 | 507.4 |
Business Income (Loss) | (3,202) | (5,472) | - |
Other income (Non-recurring) | 3,611 | 968 | (73.2) |
Other expenses (Non-recurring) | 3,516 | 257 | (92.7) |
Operating Income (Loss) | (3,107) | (4,761) | - |
Net Income (Loss) Attributable to Owners of the Parent | (1,670) | (3,331) | - |
Note: 1. "Business Income (Loss)" is a measure of our underlying or recurring business performance. Business Income (loss) deducts cost of sales and selling, general and administrative expenses from revenue, and includes other income and expenses which we believe are recurring in nature.
2. Net Income (Loss) Attributable to Owners of Parent in 2021 is a total of continuing operation and discontinued operation results.
3
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Coca-Cola Bottlers Japan Inc. published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2022 08:15:08 UTC.