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    2587   JP3336560002

SUNTORY BEVERAGE & FOOD LIMITED

(2587)
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Suntory Beverage & Food : Notification Concerning Content of Parent Company Financial as of December 31 2020

02/12/2021 | 03:10am EDT

Suntory Holdings Limited

SUMMARY OF CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2020 [IFRS] (English Translation, UNAUDITED)

Company Name:

Suntory Holdings Limited

(URL:https://www.suntory.com/)

Representative:

Takeshi Niinami, President

Contact:

Hiroshi Kato, Head of Public Relations

Public Relations Office:

Tel:+81(0)3 5579-1150

Tel:+81(0)6 6346-0835

1. Consolidated operating results and financial positions for the fiscal year (January 1, 2020 - December 31, 2020)

(1) Operating resultsFebruary 12, 2021

(Fractions of millions have been truncated)

(% figures represent change from the same period of the previous fiscal year)

Revenue (including excise taxes)

Revenue (excluding excise taxes)

Operating income

Profit before income taxes

Profit for the year

Profit attributable to owners of the Company

Fiscal year ended

December 31, 2020 December 31, 2019

¥million

%

2,367,632 (7.8) 2,569,230 2.1

¥million

%

2,108,316 (8.1) 2,294,704 2.0

¥million

%

217,032 (16.4) 259,646 3.5

¥million

%

201,042 (16.8) 241,505 3.9

¥million

%

129,670 (28.9) 182,435 0.6

¥million

%

100,408 (28.8) 140,940 0.6

Reference: Adjusted operating income for the fiscal year ending December 31,2020 217,987million (15.7) %Adjusted operating income for the fiscal year ending December 31, 2019 258,519million 3.0 %

Adjusted operating income was calculated as operating income excluding non-recurring items.

Basic earnings per share

Diluted earnings per share

Profit ratio to equity attributable to owners of the Company

Profit before income taxes ratio to total assets

Operating income ratio to revenue (excluding excise taxes)

Fiscal year ended

December 31, 2020 December 31, 2019

¥ 146 .42 205 .53

¥

% 7.1

10.6

% 4.4

5.4

% 10.3

11.3

(2) Financial positions

Total assets

Total equity

Equity attributable to owners of the Company

Equity attributable to owners of the Company ratio

Equity per share attributable to owners of the Company

Fiscal year ended

December 31, 2020 December 31, 2019

¥million 4,521,286 4,516,779

¥million 1,814,347 1,793,887

¥million 1,416,157 1,398,534

% 31.3 31.0

¥ 2,065.10 2,039.41

(3) Cash flows

Operating activities

Investing activities

Financing activities

Cash and cash equivalents at the end of the year

Fiscal year ended

December 31, 2020 December 31, 2019

¥million 231,397 321,613

¥million (133,948) (120,525)

¥million (10,612) (218,969)

¥million 338,259 255,302

2. Dividends

Dividends per share

(Annual)

Total cash dividends

(Annual)

Dividend payout ratio

(Consolidated)

Ratio of dividends to equity attributable to owner of the Company

Fiscal year ended

December 31, 2020 December 31, 2019

Yen 13 .00 13 .00

Millions of yen 8,914 8,914

% 8.9 6.3

% 0.6 0.7

3. Consolidated earnings forecast for the fiscal year ending December 31, 2021 (January 1, 2021 - December 31, 2021)

Revenue (including excise taxes)

Revenue (excluding excise taxes)

Operating income

Profit before income taxes

Profit attributable to owners of the Company

Basic earnings per share

Fiscal year ended December 31, 2021

¥million 2,538,000

% 7.2

¥million 2,258,000

% 7.1

¥million 221,000

% 1.8

¥million 206,000

% 2.5

¥million 104,000

% 3.6

¥ 151 .66

Reference:

Adjusted operating incomefor the fiscal year ending December 31, 2021

224,000million 2.8

SUMMARY OF NON-CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2020 (English Translation, UNAUDITED)

(1) Operating results

(% figures represent change from the same period of the previous fiscal year)

Operating revenue

Operating income

Ordinary income

Fiscal year ended

December 31, 2020 December 31, 2019

¥million 133,297 136,843

% 2.6 27.8

¥million 86,860 90,920

% 4.5 42.2

¥million 88,196 94,050

% 6.2 35.7

Net income

Basic net earnings per share

Fiscal year ended

December 31, 2020 December 31, 2019

¥million 83,999 89,297

% 5.9 36.0

¥ 122 .49 130 .22

(2) Financial positions

Total assets

Net assets

Ratio of equity to total assets

Total equity per share

As of

December 31, 2020 December 31, 2019

¥million 2,215,751 2,085,813

¥million 905,806 831,853

% 40.9 39.9

¥ 1,320.89 1,213.05

Operating Results

1. Overview of the Twelve-Month Period Ended December 31, 2020

The Suntory Group has actively expanded business in each of three segments, "Non-Alcoholic Beverages and Foods," "Alcoholic Beverages," and "Others," both in Japan and overseas. The fiscal year under review was affected by factors such as self-restraint in going out following the spread of novel coronavirus infectious disease (COVID-19). Revenue (excluding excise taxes) fell by 8.1% year on year to 2.1083 trillion yen, while revenue

(including excise taxes) came to 2.3676 trillion yen, a decrease of 7.8% year on year.

Operating income fell by 16.4% to 217 billion yen, and profit attributable to owners of the Company was 100.4 billion yen, down 28.8% year on year.

Suntory Beverage & Food Limited focused on strengthening brands and creating new demand with the aim of proposing unique, high-quality products that capture the customer's tastes and needs to further enrich customer lifestyles, as well as on improving product quality. The company also took steps to enhance profitability in each area. However, the business environment in major countries has been changed significantly by the impact of the

COVID-19 pandemic, and this has had a considerable effect on the business both in Japan and overseas.

In Japan, the company focused on strengthening core brands, mainly in the categories of water, coffee, and sugar-free tea, but although sales volume outperformed the soft drinks market as a whole, it fell compared to the previous year. In the Suntory Tennensui brand, due to factors such as an increase in demand for large volumes and the renewal of Suntory

Tennensui Sparkling Lemon, sales volume for the brand as a whole was flat year on year. In the BOSS brand, it launched the new BOSS Cafe Base and Craft BOSS Lemon Tea

products with the aim of stimulating the market, but sales volume for the brand as a whole recorded a year-on-year decline. In the Iyemon brand, the company carried out the most significant renewal since its launch, with the aim of creating a bottled green tea beverage that allows customers to enjoy "a green tea that tastes freshly brewed." As a result, sales volume for the brand as a whole increased considerably year on year. In the GREEN DAKARA brand, GREEN DAKARA Yasashii Mugicha maintained its favorable performance, and sales volume for the brand as a whole was the same as the previous year.

In Europe, sales volumes for core brands Orangina and Oasis fell below the previous year in France. In the United Kingdom, sales volume for the Lucozade brand declined year on year. Although the Lucozade Energy brand recorded a strong performance, self-restraint in

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Suntory Beverage & Food Limited published this content on 12 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 February 2021 08:09:06 UTC.


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Financials
Sales 2021 1 251 B 11 522 M 11 522 M
Net income 2021 62 420 M 575 M 575 M
Net cash 2021 31 006 M 285 M 285 M
P/E ratio 2021 18,6x
Yield 2021 2,08%
Capitalization 1 171 B 10 770 M 10 782 M
EV / Sales 2021 0,91x
EV / Sales 2022 0,84x
Nbr of Employees 24 102
Free-Float 40,3%
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Technical analysis trends SUNTORY BEVERAGE & FOOD LIMITED
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 4 650,00 JPY
Last Close Price 3 775,00 JPY
Spread / Highest target 56,3%
Spread / Average Target 23,2%
Spread / Lowest Target 3,31%
EPS Revisions
Managers and Directors
NameTitle
Kazuhiro Saito President & Representative Director
Saburo Kogo Chairman
Yukari Inoue Independent Outside Director
Harumichi Uchida Independent Outside Director
Mika Masuyama Independent Outside Director
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