Three months ended March 31, 2024

Consolidated First Quarter Earnings Report - Supplementary Information

Consolidated Results (Three months ended March 31, 2024)

  1. Consolidated Financial Highlights
  2. Major Sales and Sales Volume Data
  3. Condensed Consolidated Results Consolidated Statements of Income Consolidated Statements of Cash Flows
  4. Consolidated Statements of Income : Breakdown of Key Changes
  5. Segment Information
  6. Condensed Consolidated Balance Sheets

Consolidated Forecasts (Year ending December 31, 2024)

  1. Full-YearConsolidated Business Results estimate
  2. Full-YearConsolidated Statement of Income: Breakdown of Key Changes
  3. Full-YearConsolidated Segment information

May 2024

Securities Code: 2501

URL https://www.sapporoholdings.jp/en/

1. Financial Highlights

Consolidated Financial Highlights

(billions of yen, except percentages, ratios, per-share data, and exchange rates)

Three months

Three months

ended March 31,

ended March 31,

Change

Change(%)

2023

2024

Revenue

108.8

112.8

4.0

3.7%

（ref.）Excluding liquor tax

85.2

88.6

3.4

4.0%

Revenue growth rate

16.6%

3.7%

ー

ー

（ref.）Excluding liquor tax

18.2%

4.0%

ー

ー

Overseas revenue

25.9

28.5

2.6

10.2%

Overseas revenue growth rate

41.7%

10.2%

ー

ー

Core operating profit（*1）

(2.9)

(3.8)

▲ 0.9

ー

Core operating margin

(2.7%)

(3.4%)

ー

ー

Operating profit

(3.3)

(1.9)

1.3

ー

Profit attributable to owners of parent

(3.6)

(2.0)

1.6

ー

Total assets

620.5

667.5

47.1

7.6%

Total equity

163.0

188.2

25.2

15.4%

Balance of debt :Net （*2）

218.9

218.5

(0.4)

(0.2%)

Debt-to-equity ratio (times) :Net（*3）

1.3

1.2

ー

ー

Depreciation and amortization

5.0

5.1

0.1

2.6%

EBITDA（*4）

2.0

1.3

▲ 0.7

(35.9%)

Exchange rates (Yen) （*9）

US$

132.40

148.62

ー

ー

CAN$

97.93

110.18

ー

ー

SG$

99.37

110.86

ー

ー

Year ended

Year ending

December 31, 2024

Change

Change(%)

December 31, 2023

(Forecast)

Revenue

518.6

523.5

4.9

0.9%

（ref.）Excluding liquor tax

400.8

407.6

6.8

1.7%

Revenue growth rate

8.4%

0.9%

ー

ー

（ref.）Excluding liquor tax

10.0%

1.7%

ー

ー

Overseas revenue

119.6

124.4

4.8

4.0%

Overseas revenue growth rate

17.0%

4.0%

ー

ー

Core operating profit（*1）

15.6

19.0

3.4

21.5%

Core operating margin

3.0%

3.6%

ー

ー

Operating profit

11.8

17.6

5.8

48.9%

Profit attributable to owners of parent

8.7

10.0

1.3

14.6%

Total assets

663.6

Total equity

183.2

Balance of debt :Net （*2）

205.4

211.6

6.2

3.0%

Debt-to-equity ratio (times) :Net（*3）

1.1

1.1

ー

ー

Depreciation and amortization

20.4

21.7

1.3

6.3%

EBITDA（*4）

36.0

40.7

4.7

13.0%

EBITDA interest-bearing debt ratio(times) （*5)

5.7

5.2

ー

ー

Capital expenditure

Cash basis

28.9

38.0

9.1

31.4%

ＲＯＥ（％） （*6)

5.0%

5.5%

ー

ー

ＥＰＳ（yen sen）（*7)

111.99

128.37

ー

ー

ＤＯＥ（％） （*8)

2.1%

2.2%

ー

ー

Payout ratio（％）

42.0%

40.4%

ー

ー

Exchange rates (Yen) （*9）

US$

140.66

145.00

ー

ー

CAN$

104.25

110.00

ー

ー

SG$

104.70

110.00

ー

ー

*1: Core operating profit is calculated as Revenue - Cost of sales - SG&A expenses.

*2: The balance of debt includes commercial paper but excludes the balance of lease obligations.

*3: Balance of debt:Net(excluding lease liabilities) ／Equity attributable to owners of parent

*4: EBITDA (IFRS)=Core operating profit + Depreciation and amortization

(excluding depreciation expense on leased assets which is charged on the rent of restaurants） *5: Balance of debt:Net (excluding lease liabilities)／EBITDA

*6: Profit attributable to owners of parent／Equity attributable to owners of parent

*7: Profit attributable to owners of parent／Average number of shares during the period

*8: Dividend／Equity attributable to owners of parent(Average)

*9: Revenues and expenses are translated into Japanese yen at the average exchange rate for the fiscal year.

1

2. Major Sales and Sales Volume

Sales Volume:Beer (Japan) *1

(10,000 cases)

Jan. 1 -

Jan. 1 -

YoY

YoY

Year ended

Full-year

YoY

YoY

December 31,

estimate for

Mar.31, 2023

Mar.31, 2024

Change

Change(%)

Change

Change(%)

2023

fiscal 2024

Sapporo Draft Beer Black Label (total)

ー

ー

ー

16.0%

1,556

1,752

196

12.6%

YEBISU (total)

ー

ー

ー

0.3%

634

672

38

6.1%

1

Beer (total)

ー

ー

ー

11.6%

2,917

3,144

227

7.8%

2 Happoshu (include New Genre)

ー

ー

ー

(18.4%)

1,088

825

(263)

(24.2%)

Beer-type beverages （total 1+2）

ー

ー

ー

1.9%

4,005

3,969

▲ 36

(0.9%)

RTD(*2)

305

307

3

0.9%

1,411

1,564

153

10.8%

Non-alcoholic beer and low alcohol beer taste beverage

14

11

(3)

(19.8%)

63

53

▲ 10

(16.0%)

*1:Following the agreement of the Brewers Association of Japan, there is no disclosure of the sales volume for the first quarter.

The sales volume for the first half and end of the fiscal year shall be disclosed.

*2:Only canned products, RTD 1 case = 250ml x 24 bottles

Sales Volume:Beer (International)

(10,000 cases)

Year ended

Full-year

Jan. 1 -

Jan. 1 -

YoY

YoY

YoY

YoY

December 31,

estimate for

Mar.31, 2023

Mar.31, 2024

Change

Change(%)

Change

Change(%)

2023

fiscal 2024

Overseas brand (SLEEMAN, Anchor, Stone, etc.)

349

327

(22)

(6.3%)

1,585

1,577

▲ 9

(0.5%)

Sapporo brand

100

107

7

7.2%

433

462

28

6.5%

North America

449

434

(15)

(3.3%)

2,019

2,038

19

1.0%

Sapporo brand

69

85

16

23.0%

282

348

65

23.0%

Other areas

69

85

16

23.0%

282

348

65

23.0%

Sapporo Brand (total)

169

192

23

13.7%

716

809

93

13.0%

Total

518

519

1

0.2%

2,301

2,386

85

3.7%

Sales:Beer (Japan) *including liquor tax *3

(billions of yen)

Jan. 1 -

Jan. 1 -

YoY

YoY

Year ended

Full-year

YoY

YoY

December 31,

estimate for

Mar.31, 2023

Mar.31, 2024

Change

Change(%)

Change

Change(%)

2023

fiscal 2024

Beer

30.1

32.7

2.6

8.6%

162.7

172.8

10.1

6.2%

Happoshu(include New Genre)

10.3

9.0

(1.2)

(11.7%)

43.6

35.2

(8.4)

(19.2%)

Subtotal

40.4

41.7

1.4

3.4%

206.3

208.1

1.7

0.8%

Rebate subtracted from sales(*3)

(2.2)

(2.4)

(0.1)

ー

(10.2)

ー

ー

ー

Total

38.1

39.4

1.3

3.3%

196.1

ー

ー

ー

*3:Full year estimate for rebate subtracted from sales is not disclosed.

Sales:Alcoholic Beverage (Japan) *4

(billions of yen)

Jan. 1 -

Jan. 1 -

YoY

YoY

Year ended

Full-year

YoY

YoY

estimate for

December 31,

Change

Change(%)

Mar.31, 2023

Mar.31, 2024

Change

Change(%)

2023

fiscal 2024

Domestic wines

0.8

0.6

(0.2)

(29.0%)

3.1

2.3

(0.8)

(25.4%)

Imported wines

1.4

1.3

(0.1)

(7.3%)

6.7

6.0

(0.7)

(10.5%)

Wine (total)

2.2

1.9

(0.3)

(15.4%)

9.8

8.3

(1.5)

(15.2%)

Spirits and Shochu (total)

7.0

7.1

0.0

0.7%

30.5

28.8

(1.7)

(5.5%)

RTD

5.8

5.9

0.0

0.4%

26.7

29.4

2.7

10.0%

Subtotal

15.1

14.8

(0.3)

(1.9%)

67.0

66.5

(0.5)

(0.7%)

Rebate subtracted from sales(*4)

(2.6)

(2.3)

0.3

ー

(10.7)

ー

ー

ー

Total

12.5

12.5

0.0

0.0%

56.3

ー

ー

ー

*4:Full year estimate for rebate subtracted from sales is not disclosed.

Sales:Food & Soft Drinks (Japan)

*5

(billions of yen)

Jan. 1 -

Jan. 1 -

YoY

YoY

Year ended

Full-year

YoY

YoY

December 31,

estimate for

Mar.31, 2023

Mar.31, 2024

Change

Change(%)

Change

Change(%)

2023

fiscal 2024

Soft Drinks

12.1

11.0

(1.1)

(9.2%)

56.9

58.1

1.2

2.2%

Food（Lemon・Soups・Plant milk）

7.4

6.6

(0.8)

(11.2%)

30.3

28.9

(1.4)

(4.6%)

*5:Only domestic sales(Before Rebate subtracted from sales)

Sales:Food & Soft Drinks (Overseas)

*6

(millions of SGD)

Jan. 1 -

Jan. 1 -

YoY

YoY

Year ended

Full-year

YoY

YoY

December 31,

estimate for

Mar.31, 2023

Mar.31, 2024

Change

Change(%)

Change

Change(%)

2023

fiscal 2024

Singapore

38

40

2

4.3%

154

157

3

2.0%

Malaysia

6

8

2

35.9%

24

29

4

17.2%

International

14

8

(6)

(41.0%)

49

52

3

6.8%

*6:Before sales deduction, exclude OEM sales

2

3. Consolidated Results (Three months ended March 31, 2024)

Consolidated Statements of Income

(billions of yen)

Three months

Three months

ended March 31,

ended March 31,

Change

Change(%)

2023

2024

Alcoholic Beverages

76.6

80.6

4.1

5.3%

Japanese

54.0

55.7

1.7

3.1%

Overseas

18.3

20.3

2.0

11.1%

Restaurants

4.3

4.6

0.4

8.3%

Food & Soft Drinks

26.8

26.6

(0.2)

(0.9%)

Japanese

20.2

19.7

(0.5)

(2.5%)

Overseas

6.6

6.8

0.3

3.9%

Real Estate

5.3

5.5

0.2

3.2%

Other

0.0

0.0

0.0

11.9%

Revenue

108.8

112.8

4.0

3.7%

Alcoholic Beverages

(0.5)

(0.2)

0.3

ー

Japanese

(0.2)

0.6

0.8

ー

Overseas

(0.4)

(1.0)

(0.5)

ー

Restaurants

0.1

0.2

0.1

62.6%

Food & Soft Drinks

(0.3)

(0.6)

(0.2)

ー

Japanese

(0.7)

(0.7)

(0.0)

ー

Overseas

0.4

0.2

(0.2)

(59.0%)

Real Estate

(0.0)

(0.2)

(0.2)

ー

Other・General corporate and

(2.1)

(2.8)

(0.7)

ー

intercompany eliminations

Core operating profit（*1）

(2.9)

(3.8)

(0.9)

ー

Other operating income

0.2

2.3

2.1

1,261.0%

Other operating expense

0.5

0.4

(0.1)

(16.3%)

Operating profit

(3.3)

(1.9)

1.3

ー

Financial income (expense)

(0.6)

0.4

1.0

ー

Equity in net income of affiliates

0.0

0.0

0.0

40.5%

Profit before tax

(3.8)

(1.5)

2.3

ー

Income taxes

(0.2)

0.5

0.7

ー

Profit

(3.6)

(2.0)

1.6

ー

Profit (loss) attributable to non-controlling interest

0.0

0.0

0.0

21.1%

Profit attributable to owners of parent

(3.6)

(2.0)

1.6

ー

（ref.）

ＥＢＩＴＤＡ

（*2）

2.0

1.3

(0.7)

(35.9%)

*1: Core operating profit is calculated as Revenue - Cost of sales - SG&A expenses.

*2: EBITDA (IFRS)=Core operating profit + Depreciation and amortization

(excluding depreciation expense on leased assets which is charged on the rent of restaurants）

Consolidated Statements of Cash Flows

(billions of yen)

Three months

Three months

ended March 31,

ended March 31,

Change

Change(%)

2023

2024

Increase (decrease) in cash and cash equivalents

(1.3)

0.1

1.4

ー

Cash flows from operating activities

13.5

1.7

(11.8)

(87.7%)

Profit (loss) before tax

(3.8)

(1.5)

2.3

ー

Depreciation and amortization

5.1

5.2

0.1

2.6%

Income tax payment (refundment)

(0.5)

(5.0)

(4.5)

ー

Others

12.8

2.9

(9.8)

(76.9%)

Cash flows from investing activities

(2.8)

(10.8)

(8.0)

ー

Purchase(Proceeds from sales ) of fixed assets

(2.7)

(3.9)

(1.2)

ー

Purchase(Proceeds from sales ) of

(2.7)

(10.8)

(8.1)

ー

investment property

Purchase(Proceeds from sales and redemption ) of

2.2

4.0

1.8

80.6%

investment securities

0.4

(0.1)

(0.5)

ー

Others

Free Cash flows

10.7

(9.1)

(19.8)

ー

Cash flows from financial activities

(13.3)

8.5

21.8

ー

Change in financial liabilities

(9.0)

13.1

22.0

ー

Others

(4.4)

(4.6)

(0.2)

ー

3

4. Consolidated Results (Three months ended March 31, 2024)

Breakdown of key income Changes(Year-on-year)

（１）Alcoholic Beverages

(billions of yen)

Change factor

Jan. 1 -

Jan. 1 -

Change

Details

Mar.31, 2023

Mar.31, 2024

Beer-type beverages increase (decrease) in volume

0.3

Product mix, Price revision, Manufacturing cost

1.2

RTD・Wine・Spirits・Shochu, other

0.3

Including Non-alcoholic

Advertising and promotion expenses（*1）

(0.4)

Personnel expenses, Facilities costs ,other

(0.4)

Domestic subsidiary,consolidation adjusting, other

(0.1)

Alcoholic Beverages in Japan

(0.2)

0.6

0.8

Alcoholic Beverages in Overseas

(0.4)

(1.0)

(0.5)

Restaurants

0.1

0.2

0.1

Segment adjustment

(0.0)

(0.0)

(0.0)

Alcoholic Beverages(Core operating profit)

(0.5)

(0.2)

0.3

（*1）Advertising and promotion expenses(2024) 6.1billions of

yen

（２）Food & Soft Drinks

(billions of yen)

Change factor

Jan. 1 -

Jan. 1 -

Change

Details

Mar.31, 2023

Mar.31, 2024

Increase (decrease) in volume

(0.7)

Product mix, Price revision, Manufacturing cost

0.3

Advertising and promotion expenses

0.4

Personnel expenses, Facilities costs ,other

0.1

Domestic subsidiary,consolidation adjusting, other

(0.1)

Japanese Food & Soft Drinks

(0.0)

Overseas Soft Drinks

(0.2)

Food & Soft Drinks(Core operating profit)

(0.3)

(0.6)

(0.2)

（３）Real Estate

(billions of yen)

Change factor

Jan. 1 -

Jan. 1 -

Change

Details

Mar.31, 2023

Mar.31, 2024

Yebisu Garden Place, etc.

0.1

Other area & other operations

(0.1)

Sapporo

(0.1)

Others

(0.1)

Real Estate(Core operating profit)

(0.0)

(0.2)

(0.2)

4

5. Consolidated Results (Three months ended March 31, 2024)

Segment Information

(billions of yen)

Alcoholic

Food & Soft

Corporate

Consolidated

Real Estate

Other

and

Beverages

Drinks

eliminations

total

Revenue

Jan. 1 - Mar.31, 2024

80.6

26.6

5.5

0.0

ー

112.8

Jan. 1 - Mar.31, 2023

76.6

26.8

5.3

0.0

ー

108.8

Change

4.1

(0.2)

0.2

0.0

ー

4.0

Core operating profit (*1)

Jan. 1 - Mar.31, 2024

(0.2)

(0.6)

(0.2)

0.0

(2.9)

(3.8)

Jan. 1 - Mar.31, 2023

(0.5)

(0.3)

(0.0)

0.0

(2.1)

(2.9)

Change

0.3

(0.2)

(0.2)

0.0

(0.8)

(0.9)

Operating profit

Jan. 1 - Mar.31, 2024

(0.3)

1.5

(0.3)

0.0

(2.8)

(1.9)

Jan. 1 - Mar.31, 2023

(0.8)

(0.3)

(0.1)

0.0

(2.1)

(3.3)

Change

0.5

1.8

(0.2)

0.0

(0.7)

1.3

Depreciation and amortization

Jan. 1 - Mar.31, 2024

2.6

0.7

1.5

ー

0.4

5.1

Jan. 1 - Mar.31, 2023

2.6

0.7

1.3

ー

0.4

5.0

Change

(0.0)

0.0

0.1

ー

(0.0)

0.1

ＥＢＩＴＤＡ（*2）

Jan. 1 - Mar.31, 2024

2.4

0.2

1.3

0.0

(2.5)

1.3

Jan. 1 - Mar.31, 2023

2.1

0.4

1.3

0.0

(1.7)

2.0

Change

0.3

(0.2)

(0.0)

0.0

(0.8)

(0.7)

Capital expenditures (cash basis)

Jan. 1 - Mar.31, 2024

4.5

0.5

11.0

ー

0.5

16.6

Jan. 1 - Mar.31, 2023

1.7

0.4

2.7

ー

0.6

5.4

Change

2.8

0.1

8.3

ー

(0.0)

11.2

*1: Core operating profit is calculated as Revenue - Cost of sales - SG&A expenses.

*2: EBITDA (IFRS)=Profit from operations before non-recurring items+ Depreciation and amortization (excluding depreciation expense on leased assets which is charged on the rent of restaurants）

5

6. Consolidated Results (Three months ended March 31, 2024)

Condensed Consolidated Balance Sheets

(billions of yen)

Year ended

Three months

December 31,

ended March 31,

Change

Details

2023

2024

Current assets

176.4

156.4

(19.9)

Cash and cash equivalents

17.2

17.2

(0.0)

Trade and other receivables

98.0

77.5

(20.5)

Seasonal factors

Inventories

47.6

49.2

1.6

Other

13.6

12.6

(1.0)

Non-current assets

487.2

511.1

23.9

Fixed assets

152.7

160.2

7.5

Investment property

211.2

219.7

8.6

Goodwill

35.1

36.2

1.1

Other

88.3

95.0

6.7

Total assets

663.6

667.5

4.0

Current liabilities

191.2

187.6

(3.6)

Trade and other payables

38.7

35.5

(3.2)

Short-term financial liabilities

39.7

56.2

16.5

Other

112.8

96.0

(16.9)

Decrease in liquor tax payable

Non-current liabilities

289.1

291.7

2.6

Long-term financial liabilities

182.9

179.5

(3.4)

Retirement benefit liability

3.4

3.4

(0.0)

Other

102.8

108.8

6.1

Total liabilities

480.3

479.4

(1.0)

Equity attributable to owners of parent

182.3

187.2

4.9

Equity attributable to non-controlling interests

0.9

1.0

0.0

Total equity

183.2

188.2

4.9

Total liabilities and equity

663.6

667.5

4.0

6

7. Consolidated Forecasts (Year ending December 31, 2024)

Condensed Consolidated Statements of Income

(billions of yen)

Year ended

Year ending

December 31,

December 31,

Change

Change(%)

2023

2024 (Forecast)

Alcoholic Beverages

376.9

380.0

3.1

0.8%

Japanese

268.3

270.0

1.7

0.6%

Overseas

88.6

90.0

1.4

1.6%

Restaurants

20.0

20.0

0.0

0.2%

Food & Soft Drinks

119.9

120.0

0.1

0.1%

Japanese

93.5

92.0

(1.5)

(1.6%)

Overseas

26.4

28.0

1.6

5.9%

Real Estate

21.7

23.5

1.8

8.3%

Other

0.1

0.0

(0.1)

(86.3%)

Revenue

518.6

523.5

4.9

0.9%

Alcoholic Beverages

16.0

18.3

2.3

14.3%

Japanese

14.2

15.5

1.3

9.3%

Overseas

(0.3)

1.0

1.3

ー

Restaurants

2.1

1.8

(0.3)

(16.6%)

Food & Soft Drinks

1.6

3.5

1.9

114.2%

Japanese

2.2

2.2

0.0

1.7%

Overseas

(0.6)

1.3

1.9

ー

Real Estate

5.8

5.8

0.0

0.3%

Other ・General corporate and

(7.8)

(8.5)

(0.7)

ー

intercompany eliminations

Core operating profit (*1)

15.6

19.0

3.4

21.5%

Other operating income (expense)

(3.8)

(1.4)

2.4

ー

Operating profit

11.8

17.6

5.8

48.9%

Financial income (expense)

0.3

(1.9)

(2.1)

ー

Equity in net income (loss) of affiliates

0.1

0.1

0.0

0.0%

Profit before tax

12.1

15.8

3.7

30.5%

Income taxes

3.4

5.8

2.4

71.8%

Profit (loss)

8.8

10.0

1.3

14.5%

Profit (loss) attributable to non-controlling interest

0.0

0.0

(0.0)

(10.4%)

Profit (loss) attributable to owners of parent

8.7

10.0

1.3

14.6%

（ref.）

ＥＢＩＴＤＡ

（*2）

36.0

40.7

4.7

13.0%

*1: Core operating profit is calculated as Revenue - Cost of sales - SG&A expenses.

*2: EBITDA=Core operating profit + Depreciation and amortization (excluding depreciation expense on leased assets which is charged on the rent of restaurants）

Condensed Consolidated Statements of Cash Flows

(billions of yen)

Year ended

Year ending

December 31,

December 31,

Change

Change(%)

2023

2024 (Forecast)

Cash flows from operating activities

45.4

35.4

(10.1)

(22.2%)

Cash flows from investing activities

(16.4)

(20.4)

(4.0)

ー

Free Cash flows

29.0

14.9

(14.1)

(48.5%)

7

8. Consolidated Forecasts ( Year ending December 31, 2024)

Breakdown of key income Changes (Year-on-year)

（１）Alcoholic Beverages

(billions of yen)

Year ended

Year ending

December 31,

Change factor

December 31,

Change

Details

2023

2024

(Forecast)

Beer-type beverages increase (decrease) in volume

(0.8)

Product mix, Price revision, Manufacturing cost

3.1

RTD・Wine・Spirits・Shochu, other

1.8

Including Non-alcoholic

Advertising and promotion expenses

(3.3)

Personnel expenses, Facilities costs ,other

0.3

Domestic subsidiary,consolidation adjusting, other

0.2

Alcoholic Beverages in Japan

14.2

15.5

1.3

Alcoholic Beverages in Overseas

(0.3)

1.0

1.3

Restaurants

2.1

1.8

(0.3)

Segment adjustment

0

0

0

Alcoholic Beverages(Core operating profit)

16.0

18.3

2.3

（２）Food & Soft Drinks

(billions of yen)

Year ended

Year ending

December 31,

Change factor

December 31,

Change

Details

2023

2024

(Forecast)

Increase (decrease) in volume

(0.3)

Product mix, Price revision, Manufacturing cost

1.1

Advertising and promotion expenses

(0.2)

Personnel expenses, Facilities costs ,other

(0.2)

Domestic subsidiary,consolidation adjusting, other

(0.4)

Japanese Food & Soft Drinks

2.2

2.2

0.0

Overseas Soft Drinks

(0.6)

1.3

1.9

Food & Soft Drinks(Core operating profit)

1.6

3.5

1.9

（３）Real Estate

(billions of yen)

Year ended

Year ending

December 31,

Change factor

December 31,

Change

Details

2023

2024

(Forecast)

Yebisu Garden Place, etc.

0.0

Other area & other operations

(0.0)

Hokkaido

(0.2)

Others

0.2

Real

Estate(Core operating profit)

5.8

5.8

0.0

8

9. Consolidated Forecasts (Year ending December 31, 2024)

Segment Information

(billions of yen)

Alcoholic

Food & Soft

Corporate

Consolidated

Real Estate

Other

and

total

Beverages

Drinks

eliminations

Revenue

Year ending December 31, 2024(Forecast)

380.0

120.0

23.5

0.0

ー

523.5

Year ended December 31, 2023

376.9

119.9

21.7

0.1

ー

518.6

Change

3.1

0.1

1.8

(0.1)

ー

4.9

Core operating profit (*1)

Year ending December 31, 2024(Forecast)

18.3

3.5

5.8

0.0

(8.5)

19.0

Year ended December 31, 2023

16.0

1.6

5.8

0.0

(7.8)

15.6

Change

2.3

1.9

0.0

(0.0)

(0.7)

3.4

Operating profit

Year ending December 31, 2024(Forecast)

17.0

5.8

5.4

0.0

(10.6)

17.6

Year ended December 31, 2023

9.0

1.7

8.9

0.0

(7.7)

11.8

Change

8.1

4.1

(3.5)

(0.0)

(2.8)

5.8

Depreciation and amortization

Year ending December 31, 2024(Forecast)

10.3

3.0

6.1

ー

2.4

21.7

Year ended December 31, 2023

10.6

2.8

5.5

ー

1.5

20.4

Change

(0.3)

0.2

0.6

ー

0.8

1.3

ＥＢＩＴＤＡ（*2）

Year ending December 31, 2024(Forecast)

28.5

6.5

11.9

0.0

(6.2)

40.7

Year ended December 31, 2023

26.6

4.4

11.3

0.0

(6.3)

36.0

Change

1.9

2.0

0.6

(0.0)

0.1

4.7

Capital expenditures (cash basis)

Year ending December 31, 2024(Forecast)

14.0

3.9

19.1

ー

1.0

38.0

Year ended December 31, 2023

12.2

3.4

11.9

ー

1.4

28.9

Change

1.8

0.5

7.3

ー

(0.4)

9.1

*1: Core operating profit is calculated as Revenue - Cost of sales - SG&A expenses.

*2: EBITDA (IFRS)=Core operating profit + Depreciation and amortization

(excluding depreciation expense on leased assets which is charged on the rent of restaurants）

9

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Sapporo Holdings Limited published this content on 14 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 May 2024 06:21:39 UTC.