Asahi Group Holdings Ltd · TSE:2502
Asahi — Conference Presentation (2025)
33 slides from Asahi's conference presentation, 2025
Slide 1: Asahi Europe & International
Asahi “ GROUP ~ ASAHI EUROPE & INTERNATIONAL
Slide 2: Welcome to Birra Peroni
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Slide 3: Birra Peroni at a Glance
BIRRA PERONI AT A GLANCE +850 35,4% people Female HG17+ +12,2% vs. 2021 3 1 breweries maltery 醸造所 麦芽製造所 < +6,3mln 42,5% Share of hl of beer export 輸出割合
Slide 4: Market
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Slide 5: Market Overview
MARKET OVERVIEW 市場概況 PER CAPITA CONSUMPTION OF BEER 2023 (L) European AVG Italy CZ AT DE PL RO BG SLO HR IE UK NL HU SK FI PT ES SE CH CY GR 128 99 88 87 83 79 77 74 69 68 66 65 64 64 63 60 56 56 51 50 38 37 Source: The Brewers of Europe 2024 ITALIAN PER CAPITA CONSUMPTION 38 Italy is a low per capi
Slide 6: Market Overview
MARKET OVERVIEW 市場概況 58% 22% 20% TYPES OF CONSUMPTION OCCASIONS Meal-centric Socializing Relaxing/ me moment Source: AssoBirra On CHANNEL VOLUMES Off (HL MLN) 13,4 13,3 Beer is a social 11,9 12,9 12,8 13,0 lubricant, strongly bonded with food, and on premise has a 5,9 4,8 6,1 6,2 6,3 relevant share
Slide 7: Market Overview
MARKET OVERVIEW 市場概況 National (super) premium segments driving category growth, with International lager maintaining relevant share ナショナル（スーパー）プレミアムセグメントが成長を牽引しており、インターナショナルラガービールが一定のシェアを維持している SEGMENTS ASAHI WEIGHT ON VOL MS 52,8% 31,1% 16,2% MARKET 2024 2024 National International Lager Other Lage
Slide 8: Market Overview
MARKET OVERVIEW 市場概況 Main Brands by WAMP & Volume/ Source: Circana Total Market FY2023 LEADING LEADING COMPANY VOLUME MS SUPER/PREMIUM BRANDS MAIN-STREAM BRANDS (> 50k Hl) (> 50k Hl) 33,7% All 4 main global beer players are competing in the Italian market 2021 covering alone almost 18,3% 2024 70% of
Slide 9: Market Overview
MARKET OVERVIEW 市場概況 OFF PREMISE ON PREMISE OVERALL RANK OFF PREMISE Ranking %Vol MS Ranking %Vol MS %Vol MS NORTH WEST AEI Vol rank/share (%) HEINEKEN HEINEKEN #2 #3 INBEV INBEV ASAHI FORST CARLSBERG CARLSBERG FORST ASAHI ON PREMISE AEI Vol rank/share (%) NORTH EAST HEINEKEN HEINEKEN #3 INBEV FORST
Slide 10: Reset & Relaunch 2020-2024
2020-2024 RESET & RELAUNCH OUR TRANSFORMATION JOURNEY リセット＆リローンチ 私たちの変革の旅
Slide 11: Video Birra Peroni
VIDEO BIRRA PERONI
Slide 12: In the Last 5 Years
IN THE LAST 5 YEARS 過去５年間 FROM TO PEOPLE Siloed and hierarchical Empowering and inclusive 部門間で孤立し、階層的 能力が引き出され、インクルーシブ Unfocused and de- PLANET Committed and innovative emphasized 課題が明確化されず、重要視していない 課題として認識し、革新的に対応 PORTFOLIO Local and mainstream Global and premium ローカルとメインストリーム グローバルとプレミアム PROFIT Ta
Slide 13: A New Strategic Framework to Reflect Context and Learnings
A NEW STRATEGIC FRAMEWORK TO REFLECT CONTEXT AND LEARNINGS 状況の変化に対応し、教訓を反映させるための新たな戦略的な枠組み We connect with our consumers, customers, colleagues and communities ensuring these relationships are meaningful and valuable for both them and Birra Peroni. By doing this we will grow consumer preference, cus
Slide 14: People
PEOPLE DRIVE AN ENGAGING, CHAMPION 'SAFETY AS A HORIZONTAL AND VALUE' AND WELLBEING INCLUSIVE CULTURE 魅力的であり、フラットでインクルーシブな企業文化を築く 「安全を価値として」ウェルビーイングを推進 • GES +4 pts (83pt) • Women HG17+ 35,4% • H&W in GES +7pts vs. 2023 • DE&I in GES +3 pts (81pt) • Integrated Well Being Plan • GENDER PARITY CERTIFI
Slide 15: People Key Highlight: Diversity, Equity & Inclusion
PEOPLE KEY HIGHLIGHT: DIVERSITY, EQUITY & INCLUSION DE&I STEERCO GENDER LGBTQ+ ATTRACT & • Equal short list INTAKE • STEMtoBEer program 集客 & 獲得 • ERG “BEpowER”: WoMentoring & DEVELOP & Shadowing; PowER talk; Bookclub; BEpowER Community GROW • Behavioural Etiquette launch and training 発達 & 成長 • Paren
Slide 16: People Key Highlight: Health & Safety
PEOPLE KEY HIGHLIGHT: HEALTH & SAFETY REINFORCE OUR CREATE OUR SPREAD THE SHARED FOUNDATIONS LEGACY MESSAGE RESPONSABILITY 基盤を強化する 我々のレガシーを築く メッセージを広める 責任の共有 DRIVE SAFETY H&S STANDARDS LEADERSHIP CARING COMMS TROUGH BEHAVIOUR 安全衛生基準 リーダーシップ ケアリング・コミュニケーション 安全は行動から • Work at height «Culture through S
Slide 17: Planet
PLANET SCOPE 1 & 2 SCOPE 3 (ASAHI (OUTSIDE ASAHI OPERATIONS) OPERATIONS) スコープ1&2（アサヒのオペレーション） スコープ3（アサヒ外のオペレーション） • -15% kgCO2eq/hl vs 2019 • DRS dedicated analysis • Campus Peroni ecosystem • + 99% waste is sent to • Peroni Malt Traceability, recovery Agronomic Support Systems • Water: -8% hl/hl vs
Slide 18: Planet Key Highlight: Scope & CO2, Water
PLANET KEY HIGHLIGHT: SCOPE 1 & 2 CO2 Emission Water Consumption Co2 排出量 水の使用量 -15% CO2/HL (2019-2024) -8% HL/HL (2019-2024) • Solar Thermal Bari Plant KEY • Artificial Intelligence KEY • Water cascading PROJECTS: applications PROJECTS: • Process automation • Climate City Contract with Rome and Padu
Slide 19: Planet Key Highlight: Campus Peroni
PLANET KEY HIGHLIGHT: CAMPUS PERONI ECOSYSTEM SCOPE KEY PROJECT エコシステム スコープ 主要プロジェクト TRACIABILITY IN BLOCKCHAIN Campus Peroni is our Center of ブロックチェーンにおけるトレーサビリティ Excellence to promote QUALITY, A full set of information, from INNOVATION AND SUSTAINABILITY in malt provenance to batch, are agricultur
Slide 20: Portfolio
PORTFOLIO PERONI NASTRO KOZEL AZZURRO • Sales 2024: 680khl • Sales 2024: 73khl • NPR 2024 (% Tot): 20% • NPR 2024 (% Tot): : 2% • NPR/HL 2024: +18% vs ‘22 • Val MS 2024: 0.4pp (flat vs ’23) • Val MS 2024: 3.2pp (+0.2pp vs • Brand Awareness 2024 ’23) average: 37,6% PERONI RAFFO • Sales 2024: 229khl •
Slide 21: Portfolio Key Highlight: Peroni Nastro Azzurro
PORTFOLIO KEY HIGHLIGHT: PERONI NASTRO AZZURRO 2022 2023 2024 • New positioning Live Every Moment • STILE CAPRI LAUNCH • House of PNA experience enlargement • Ferrari partnership launch • New TVC, digital coms (Rydercup, 6 Nation…) • Strengthening Experiential • House of PNA launch •「Live Every Mome
Slide 22: Portfolio Key Highlight: PNA 0.0%
PORTFOLIO KEY HIGHLIGHT: PNA 0.0% 2022 2024 • PNA 0.0% Launch • PNA 0.0%の発売 • Ferrari partnership launch • フェラーリとのパートナーシップ開始 • Leverage partnership with Aston Martin • Strengthening Experiential • 体験型サービスの強化 • アストンマーティンとのパートナーシップの活用 2024 Volume 2024 NPR/HL Main results 主な結果 26K HL (+ 48% vs 2023) +1
Slide 23: Portfolio Key Highlight: Raffo
PORTFOLIO KEY HIGHLIGHT: RAFFO 2023 2024 • National Launch of Raffo Ricetta • Launch of Super-Premium variant - Originale in Q4 Raffo Lavorazione Grezza • Q4にRaffo Ricetta Originaleの全国発売 • スーパープレミアムモデルの発売- Raffo Lavorazione Grezza Brand repositioning from Economy to Premium ブランドの再定位：エコノミーからプレミアムへ 20
Slide 24: Portfolio Key Highlight: Peroni
PORTFOLIO KEY HIGHLIGHT: PERONI 2021 2023 2025 • Peroni Gran Riserva new pack and branding • Peroni New brand identity • Peroni Unfiltered Launch • Peroncino new pack and branding • Blockchain Traciability on label • Peroni Social Cause Launch • Peroni 新ブランドアイデンティティ •Peroni Unfiltered の発売 • Peroni G
Slide 25: Portfolio: We Are Changing Shape
PORTFOLIO WE ARE CHANGING SHAPE Premium & S. Premium Mainstream & Affordable 24% 26% 27% Total Hls Breakdown 33% 17% 17% 16% 14% 14% 14% 2021 2022 2023 2024 2025 2026 2027 Premium/S.Premium: Kozel, PNA family, Peroni Variants, PU, ASD, Grolsh, Raffo (from 24), Imported SP, Tourtel Legenda All the re
Slide 26: Profit
PROFIT PREMIUMIZATION CAPEX プレミアマイゼーション 設備投資 NPR/HL +28% vs 2019 *2019 – 2024 Domestic CASH FLOW Main investments: キャッシュフロー Breweries: • Packaging area renewed in Bari Average NWC • Mash filter, 2°mashing line & Improved €60+ mln vs. 2019 new wort kettle in Padova People: SUSTAINABLE • Rome &
Slide 27: Profit Key Highlight: Pricing & Premiumization
PROFIT KEY HIGHLIGHT: PRICING & PREMIUMIZATION WITH BP LEADING THE STRONG PRICING EFFECT Birra Peroniが牽引する 強靭な価格効果 CATEGORY VALUE GROWTH カテゴリー価値の成長 2024 vs 2022 NPR increase 2019-2024 Total PTC Pure Price Mix Beer Category +12,5% + 11,0% + 1,5% +28% Competitor 1 + 9,5% +10,5% -1,0% Competitor 1 +19,
Slide 28: Profit Key Highlight: PRGM Approach
PROFIT KEY HIGHLIGHT: PRGM APPROACH 2023 2024 Value Pool generation Full price architecture review: 価格体系 and accelerate Pursue specific - drive GM% growth -GM%成長の推進 の見直し Portfolio opportunities without - Stretch mix -ミックスの最適化 premiumization jeopardizing - Focus on low profitability SKUs バリュープール生成とプレ
Slide 29: Ready for the Next Phase
READY FOR THE NEXT PHASE 次のフェーズへ進む準備はできている
Slide 30: A New Strategic Phase: Reset & Scale & Impact
A NEW STRATEGIC PHASE 新たな戦略的フェーズ RESET & SCALE & IMPACT 2020 2025 2027 RELAUNCH
Slide 31: Our Ambition
OUR AMBITION 我々のアンビション CONSUMER SUSTAINABLE WELL-BEING CARBON PREFERENCE VALUE GENERATOR OF OUR PEOPLE NEUTRAL 20% 20% 85% 0 C02 emission Val. market share EBITA% Engagement score (scope 1 & 2)
Slide 32: Reset & Relaunch, Scale & Impact: People, Planet, Portfolio
2019 2020 2021 2022 2023 2024 2025 2026 2027 RESET & RELAUNCH SCALE & IMPACT • I Care • People Plan Purpose launch Org review • Sales Capabilities PEOPLE No HR plan • E-Comm DE&I; Pride, Flex work, new office, People Plan (Priorities: Capabilities, DE&I, Covid Plan • Digital Team capabilities ISC CW
Slide 33: Asahi Europe & International
Asahi “ GROUP ~ ASAHI EUROPE & INTERNATIONAL
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