Sapporo Holdings Ltd. reported consolidated earnings results for the nine months ended September 30, 2018. For the nine months, the company reported net sales of JPY 381.0 billion compared to JPY 390.7 billion a year ago. Operating profit was JPY 6.8 billion compared to JPY 9.7 billion a year ago. Profit before tax was JPY 5.7 billion compared to JPY 8.8 billion a year ago. Profit attributable to owners of parent was JPY 4.2 billion compared to JPY 5.3 billion a year ago. EBITDA was JPY 26.2 billion compared to JPY 30.5 billion a year ago.

For the year ending December 31, 2018, the company expects net sales of JPY 537.8 billion, operating profit of JPY 16.1 billion, profit before tax of JPY 15.1 billion, profit attributable to owners of the parent of JPY 9.2 billion, EBITDA of JPY 43 billion, cash flow from operating activities of JPY 35.4 billion, negative free cash flow of JPY 0.4 billion, profit from operations before non-recurring items of JPY 18.6 billion, Capital expenditures (cash basis) of JPY 31.8 billion, depreciation and amortization of JPY 24.4 billion. ROE of 5.2% and EPS (after goodwill amortization) of JPY 118.11.