Suntory Beverage & Food : Supplementary Information for Q1 2021

Supplementary Material on Consolidated Financial Results for the First

Three Months of the Year Ending December 31, 2021

1. Summary of Consolidated Statement of Profit or Loss, Indices, etc.
2. Revenue Details
3. Profit Details
4. Summary of Consolidated Statement of Financial Position
5. Summary of Consolidated Statements of Cash Flows
6. Other Information

Suntory Beverage & Food Limited

May 12, 2021

1. Summary of Consolidated Statement of Profit or Loss, Indices, etc.

(1) Summary of Consolidated Statement of Profit or Loss

					(Billions of yen with fractional amounts rounded off)
	Three months ended	Three months ended
	March 31, 2020	March 31, 2021	Increase (decrease)
		Ratio to revenue			Ratio to revenue
Revenue	277.2	100.0%	269.8		100.0%	(7.5)		(2.7)%
Gross profit	114.5	41.3%	111.2		41.2%	(3.2)		(2.8)%
Selling, general and administrative	94.3	34.0%	91.3		33.8%	(3.0)		(3.2)%
expenses
Gain on investments accounted for	0.0	0.0%	0.0		0.0%	0.0		35.7%
using the equity method
Other income	0.8	0.3%	0.5		0.2%	(0.3)		(33.1)%
Other expenses	1.2	0.4%	0.7		0.3%	(0.5)		(41.3)%
Operating income	19.8	7.2%	19.8		7.3%	(0.0)		(0.2)%
Finance income	0.6	0.2%	0.2		0.1%	(0.4)		(63.6)%
Finance costs	0.6	0.2%	0.5		0.2%	(0.2)		(26.0)%
Profit before tax for the period	19.8	7.1%	19.5		7.2%	(0.2)		(1.1)%
Income tax expense	4.1	1.5%	5.0		1.8%	0.9		21.2%
Profit for the period	15.6	5.6%	14.5		5.4%	(1.1)		(7.0)%
Profit for the period attributable to	2.9	1.1%	3.9		1.4%	1.0		33.0%
non-controlling interests
Profit for the period attributable to	12.7	4.6%	10.7		4.0%	(2.1)		(16.2)%
owners of the Company

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(2) Other Indices

									(Billions of yen)
		Three months ended	Three months ended		Increase (decrease)
		March 31, 2020		March 31, 2021
Depreciation				17.8			17.4	(0.4)	(2.4)%
Operating income	Operating margin	19.8		7.2%	19.8		7.3%	(0.0)	(0.2)%
EBITDA *1	EBITDA margin	38.0		13.7%	37.4		13.8%	(0.7)	(1.8)%

*1 EBITDA is calculated as operating income ± other income and expenditure aside from gain on investments accounted for using the equity method + depreciation.

				(Billions of yen)
	As at March 31, 2020	As at March 31, 2021	Increase (decrease)
Total assets	1,574.3	1,628.2	53.9	3.4%
Total equity	859.6	891.9	32.3	3.8%
D/E ratio (Times) *2	0.1	0.1

*2 D/E ratio is calculated as (interest-bearing debt - cash and cash equivalents ± valuation difference from adopting hedge accounting, etc.) / total equity.

(3) Exchange Rates for the Consolidation of Profit or Loss of the Major Overseas Companies

		(Yen, average exchange rate)
	Three months ended	Three months ended
	March 31, 2020	March 31, 2021
USD	108.9	107.2
EUR	120.1	128.5
GBP	139.3	148.6
SGD	78.6	80.3
THB	3.5	3.5
VND	0.0047	0.0047
NZD	69.1	77.0
AUD	71.6	82.8

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2. Revenue Details

					(Billions of yen)
	Three months ended	Three months ended			Increase
	Increase (decrease)	(decrease)	Reference
	March 31, 2020	March 31, 2021			currency
					neutral
Japan	146.8	134.2	(12.6)	(8.6)%	-
Asia Pacific	67.5	73.5	6.0	8.9%	6.2%
Europe	44.0	41.7	(2.3)	(5.3)%	(11.3)%
Americas	19.0	20.4	1.4	7.4%	9.0%
Reconciliations	-	-	-	-	-
Consolidation total	277.2	269.8	(7.5)	(2.7)%	(4.2)%

• Due to the organizational changes, the previous segments of "Asia" and "Oceania" were merged and are now presented as "Asia Pacific."

3. Profit Details

(1) EBITDA

					(Billions of yen)
					Increase
	Three months ended	Three months ended	Increase (decrease)	(decrease)	Reference
	March 31, 2020	March 31, 2021			currency
					neutral
Japan	16.8	13.1	(3.6)	(21.7)%	-
Asia Pacific	13.0	16.4	3.4	26.4%	24.8%	*1
Europe	7.8	7.0	(0.9)	(10.9)%	(16.7)%
Americas	2.4	3.0	0.6	26.8%	28.8%
Reconciliations	(1.9)	(2.1)	(0.2)	-	-	*2
Consolidation total	38.0	37.4	(0.7)	(1.8)%	(3.5)%

*1 Due to the organizational changes, the previous segments of "Asia" and "Oceania" were merged and are now presented as "Asia Pacific."

*2 "Reconciliations" to segment EBITDA represents overhead costs incurred by the Company to manage the Group's operations and is not allocated to each reportable segment.

(2) Segment Profit

					(Billions of yen)
					Increase
	Three months ended	Three months ended	Increase (decrease)	(decrease)	Reference
	March 31, 2020	March 31, 2021			currency
					neutral
Japan	7.1	4.0	(3.1)	(44.0)%	-
Asia Pacific	9.2	12.7	3.5	38.5%	36.0%	*1
Europe	4.8	4.0	(0.8)	(16.2)%	(21.6)%
Americas	1.5	2.0	0.5	36.3%	38.4%
Reconciliations	(2.7)	(2.9)	(0.2)	-	-	*2
Consolidation total	19.8	19.8	(0.0)	(0.2)%	(2.3)%

*1 Due to the organizational changes, the previous segments of "Asia" and "Oceania" were merged and are now presented as "Asia Pacific."

*2 "Reconciliations" to segment profit represents overhead costs incurred by the Company to manage the Group's operations and is not allocated to each reportable segment.

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(3) Breakdown of Increase (Decrease) in Segment Profit for Japan Business Segment

	(Billions of yen)
Segment profit for the three months ended March 31, 2020	7.1
Decrease in revenue	(12.6)
Decrease in cost of goods sold	6.2
Decrease in sales promotion and advertising costs	1.9
Decrease in other expenses	1.4
Segment profit for the three months ended March 31, 2021	4.0

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