English Translation
August 12, 2021
Summary of Consolidated Financial Results | |
for the First Six Months of the Year Ending December 31, 2021 | |
(UNAUDITED) | |
Company name: | Suntory Beverage & Food Limited |
Shares listed: | First Section, Tokyo Stock Exchange |
Securities code: | 2587 |
URL: | https://www.suntory.com/sbf/ |
Representative: | Kazuhiro Saito, Chief Executive Officer |
Inquiries: | Takayuki Sanno, Chief Financial Officer, Corporate Strategy Division |
TEL: +81-3-5579-1837 (from overseas) |
Scheduled date to file quarterly securities report: | August 13, 2021 |
Scheduled date to commence dividend payments: | September 9, 2021 |
Attachment of supplementary material on quarterly financial results: | Yes |
Holding of quarterly financial results briefing meeting (for institutional investors and analysts): | Yes |
(Millions of yen with fractional amounts discarded, unless otherwise noted)
1. Consolidated financial results for the first six months of the year ending December 31, 2021 (from January 1, 2021 to June 30, 2021)
(1) | Consolidated operating results | |||||||||
(Percentages indicate year-on-year changes) | ||||||||||
Revenue | Operating income | Profit before tax for the | Profit for the period | |||||||
period | ||||||||||
Six months ended | (Millions of yen) | (%) | (Millions of yen) | (%) | (Millions of yen) | (%) | (Millions of yen) | (%) | ||
June 30, 2021 | 603,835 | 9.3 | 60,401 | 69.1 | 59,343 | 69.0 | 40,508 | 52.5 | ||
June 30, 2020 | 552,529 | (12.0) | 35,712 | (29.8) | 35,113 | (29.7) | 26,558 | (28.8) | ||
Profit for the period | Comprehensive income | Basic earnings | Diluted earnings | |||||||
attributable to owners of | ||||||||||
for the period | per share | per share | ||||||||
the Company | ||||||||||
Six months ended | (Millions of yen) | (%) | (Millions of yen) | (%) | (Yen) | (Yen) | ||||
June 30, 2021 | 32,159 | 53.7 | 71,927 | - | 104.07 | - | ||||
June 30, 2020 | 20,922 | (34.1) | 5,666 | (75.3) | 67.71 | - | ||||
(2) | Consolidated financial position | |||||||||
Ratio of equity attributable | ||||||||||
Total assets | Total equity | Equity attributable to | to owners of | |||||||
owners of the Company | the Company | |||||||||
to total assets | ||||||||||
As at | (Millions of yen) | (Millions of yen) | (Millions of yen) | (%) | ||||||
June 30, 2021 | 1,672,330 | 915,749 | 830,012 | 49.6 | ||||||
December 31, 2020 | 1,574,251 | 859,556 | 781,755 | 49.7 | ||||||
(3) Consolidated cash flows
Net cash inflow (outflow) | Net cash inflow (outflow) | Net cash inflow (outflow) | Cash and cash equivalents | |
from operating activities | from investing activities | from financing activities | at the end of the period | |
Six months ended | (Millions of yen) | (Millions of yen) | (Millions of yen) | (Millions of yen) |
June 30, 2021 | 88,976 | (24,168) | (72,559) | 162,280 |
June 30, 2020 | 43,897 | (30,662) | 28,869 | 183,288 |
2. Dividends
Annual cash dividends | ||||||
First quarter-end | Second quarter-end | Third quarter-end | Year-end | Total | ||
(Yen) | (Yen) | (Yen) | (Yen) | (Yen) | ||
Year ended | - | 39.00 | - | 39.00 | 78.00 | |
December 31, 2020 | ||||||
Year ending | - | 39.00 | ||||
December 31, 2021 | ||||||
Year ending | ||||||
December 31, 2021 | - | 39.00 | 78.00 | |||
(Forecast) | ||||||
Note: | Revisions to the forecast of dividends most recently announced: None |
3. Consolidated earnings forecast for the year ending December 31, 2021 (from January 1, 2021 to December 31, 2021)
(Percentages indicate year-on-year changes)
Profit for the year | ||||||||||||
Revenue | Operating income | Profit before tax | Profit for the year | attributable to | Basic earnings | |||||||
owners of | per share | |||||||||||
the Company | ||||||||||||
(Millions of | (%) | (Millions of | (%) | (Millions of | (%) | (Millions of | (%) | (Millions of | (%) | (Yen) | ||
yen) | yen) | yen) | yen) | yen) | ||||||||
Year ending | 1,260,000 | 6.9 | 105,000 | 9.2 | 103,500 | 9.9 | 73,500 | 14.3 | 60,500 | 15.9 | 195.79 | |
December 31, 2021 | ||||||||||||
Note: | Revisions to the earnings forecast most recently announced: None |
* Notes
- Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
- Changes in accounting policies and changes in accounting estimates
a. | Changes in accounting policies required by IFRS: | None |
b. | Changes in accounting policies due to other reasons: | None |
c. | Changes in accounting estimates: | None |
- Number of issued shares (ordinary shares)
a. Total number of issued shares at the end of the period (including treasury shares)
As at June 30, 2021 | 309,000,000 shares |
As at December 31, 2020 | 309,000,000 shares |
- Number of treasury shares at the end of the period
As at June 30, 2021 | 3 shares |
As at December 31, 2020 | 3 shares |
- Average number of outstanding shares during the period (cumulative from the beginning of the year)
Six months ended June 30, 2021 | 308,999,997 shares |
Six months ended June 30, 2020 | 308,999,997 shares |
- Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
- Proper use of earnings forecast, and other special matters
The earnings forecast contained in these materials are based on our judgment attributable to information available to the Company and the Group as of the date of announcement of these materials, and include certain risks and uncertainties. These statements are not intended as a promise by the Company to achieve such results. Actual business results may differ substantially due to various factors such as economic situation surrounding the Company and the Group, market trend, exchange rates and other factors.
Attached Materials
Index
1. | Qualitative Information Regarding Settlement of Accounts for the First Six Months..................... | 2 |
(1) | Operating results .............................................................................................................................. | 2 |
(2) | Financial position............................................................................................................................. | 3 |
(3) | Analysis of cash flows ..................................................................................................................... | 4 |
(4) | Consolidated earnings forecast and other forward-looking statements ........................................... | 4 |
2. Condensed Quarterly Consolidated Financial Statements and Significant Notes Thereto
(Unaudited).................................................................................................................................................. | 5 | |
(1) | Condensed quarterly consolidated statement of financial position.................................................. | 5 |
(2) | Condensed quarterly consolidated statement of profit or loss ......................................................... | 7 |
(3) | Condensed quarterly consolidated statement of comprehensive income......................................... | 8 |
(4) | Condensed quarterly consolidated statement of changes in equity.................................................. | 9 |
(5) | Condensed quarterly consolidated statement of cash flows........................................................... | 10 |
(6) | Notes to condensed quarterly consolidated financial statements ................................................... | 11 |
(Going concern) ............................................................................................................................. | 11 |
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1. Qualitative Information Regarding Settlement of Accounts for the First Six Months
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Operating results
Suntory Beverage & Food Limited Group (the Group), based on the philosophy of enriching consumers' lives by proposing premium and unique products that match the tastes and needs of consumers, put effort into brand reinforcement and new demand creation, and worked to improve the quality of products. In addition, the Group worked to strengthen profitability in each area.
Since March, the Group's business continued to be on a powerful recovery trend, despite the pace of recovery in the market environment differing depending on the country. As a result of continuing efforts in all segments to concentrate on core brands, carry out cost reduction activities and improve efficiency in the use of sales promotion and advertising costs, we achieved progress beyond our expectations for both revenue and operating income in the second quarter of the year ending December 31, 2021, which continued from the first three months.
For the operating results of the first six months of the year ending December 31, 2021, the Group reported consolidated revenue of ¥603.8 billion, up 9.3% year on year. Consolidated operating income was ¥60.4 billion, up 69.1% year on year. Furthermore, profit for the period attributable to owners of the Company was ¥32.2 billion, up 53.7% year on year.
Results by segment are described below.
< Japan business >
Performance of the overall beverage market remained almost flat year on year (presumably by the Company) due mainly to effects of restrictions imposed on human activity as a result of the government's intermittent announcements of state of emergency declarations. The Company increased its sales volume year on year as a result of the contribution of initiatives to strengthen its core brands with a focus on the water, coffee, and sugar-free tea categories, sales of new products and marketing activities, leading the Company to increase market share.
The sales volume for the Suntory Tennensui brand as a whole rose year on year, exceeding the previous corresponding period, which had grown substantially due to an increase in demand for large formats. Sales of the Suntory Tennensui Sparkling series increased substantially as a result of contribution of THE STRONG, which was newly released in June. For the BOSS brand, the overall sales volume of the brand increased year on year. In addition to growth in the Craft BOSS series, which was renewed in March, new products in the tea series also contributed to the increase. In the sugar-free tea category, the Iyemon brand continued to grow in the second quarter of the year ending December 31, 2021, due to renewal of the brand, and overall sales volume of the brand greatly exceeded that of the same period of the previous year due to contribution of Iyemon Kyoto Blend, which was newly released in April.
In terms of profit, despite continuing to experience a negative impact from changes in the channel mix, improvements in the product mix were realized through growth of small-size (500 ml PET) products. In addition, cost reduction activities and ongoing initiatives to improve efficiency in the use of promotion and advertising costs provided significant positive impacts.
As a result, the Japan business reported revenue of ¥298.0 billion, down 0.2% year on year, and segment profit of ¥17.6 billion, up 58.7% year on year.
< Asia Pacific business >
In Asia, the beverage markets suffered negative impacts from intermittent restrictions imposed on human activity due to COVID-19 in some regions from the beginning of the year and from a clamping down on restrictions due to a resurgence in the number of infected persons from mid-May onward. The Group has increased its share of the beverage markets in Vietnam and Thailand due to its efforts to concentrate on the core brands of its business. The health supplement business also increased substantially in the second quarter of the year ending December 31, 2021. By brand, strong
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Suntory Beverage & Food Limited published this content on 12 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2021 06:10:07 UTC.