Asahi Group Holdings Ltd · TSE:2502

Asahi — European Business Strategy Briefing Session 2024

42 slides from Asahi's conference presentation, Jun 14, 2024

Slide 1: Asahi Europe & International European Business Strategy Briefing Session
Asahi Europe & International European Business Strategy Briefing Session 14th June 2024
Slide 3: Asahi Europe & International Overview
Asahi Europe & International Overview
Slide 4: AEI Leadership Team
AEI Leadership Team AEIリーダーシップチーム Catherine Sinclair Pavlína Kalousová David Bidau Paolo Lanzarotti Andrew Bailey Nathalie Pfaff Chief Human Chief Corporate Affairs Chief Supply Chain Chief Executive Officer Chief Financial Officer Chief Growth Officer Resources Officer Officer Officer Takefumi Taka
Slide 5: We're centred in Europe, but manage the complexity of global expansion
We’re centred in Europe, but manage the complexity of global expansion 欧州を中心としつつ、それ以外の様々な地域へグローバルに展開 19 production facilities in 8 countries 10,000+ people 2021 2022 2023 Volume 41.3mHL 42.2mHL 40.8mHL NPR €2.9b €3.4b €3.8b 90+ markets Ⓒ ASAHI EUROPE & INTERNATIONAL. All rights reserved. ※NPR=酒税抜き売上
Slide 6: Strategy Recap
Strategy Recap
Slide 7: Our overarching Purpose is clear, with a strategy based on four pillars
Our overarching Purpose is clear, with a strategy based on four pillars 包括的なパーパスの定義は明確であり、その上に４つの柱に基づいた戦略が存在する有意義なつながりを生み出す地球をポジティブにする力になるポジティブで包括的な経験を人や社会に提供する期待を超えるおいしさ、楽しい生活文化の創造挑戦と革新最高の品質感動の共有 Ⓒ ASAHI EUROPE & INTERNATIONAL. All rights reserved. 7
Slide 9: Macro data is starting to show less challenging conditions
Macro data is starting to show less challenging conditions マクロデータでは厳しい状況が緩和されつつある Inflation rate has been significantly GDP growth rate rebounding Retail sales value growing decreasing over past year since the end of 2023 at a moderate pace インフレ率は過去1年間で大幅に低下している GDP成長率は2023年末から回復傾向小売販売額は緩やかなペースで成長
Slide 10: Category development is under long term pressure
Category development is under long term pressure カテゴリー展開は長期的な圧力にさらされている Volume – AEI Europe region total Volume growth index (mil.hl) (2019=100) OFF trade ON trade 2020 2021 2022 2023 AEI – Europe reg. 92 93 98 93 total 94 91 96 95 83 88 98 94 95 94 96 89 2019 2020 2021 2022 2023 Ⓒ ASAHI EUROPE & IN
Slide 11: Despite pressure on consumer spending, we still see the trend to premiumisation
Despite pressure on consumer spending, we still see the trend to premiumisation at the regional level and across most markets 個人消費への圧力は続いているが、各地域におけるほとんどの市場においてプレミアム化の傾向が見られる AEI – Europe reg. total 36% 36% 35% 28% 28% 29% 12% 24% 25% 26% 12% 12% 8% 8% 8% Superpremium 9% 10% 10% 9% 10% 18% 18% 19% P
Slide 12: Premiumisation is generally holding in Q1 with continued pressure on Affordable
Premiumisation is generally holding in Q1 with continued pressure on Affordable 手ごろな価格帯への圧力が続く中、Q1のプレミアム化は概ね維持されている AEI – Europe reg. total 36% 35% 34% 7% 7% 7% Superpremium 27% 27% 27% 12% 12% 12% Premium 22% 23% 22% 9% 9% 9% 19% Mainstream 17% 17% 17% 17% 17% 9% 9% 9% Affordable 11% 23% 22% 10% 9%
Slide 13: The market is innovating – with the focus on premium segments
The market is innovating – with the focus on premium segments, and increasingly outside of the clear lager segment 市場は革新している - プレミアムセグメントを中心に、クリアラガーセグメント以外の製品が増えている In the last 12 months, we see the majority of new Innovation focus is outside of clear lager, with flavoured offerings being launched i
Slide 14: Our portfolio strategy is aligned to these category trends
Our portfolio strategy is aligned to these category trends ポートフォリオ戦略は、カテゴリートレンドに沿ったものであると確信しているグローバルブランドの規模拡大ローカルクラフトブランドの規模拡大 1 2 Scale our Global Scale local craft Brands brands 4 Expand NAB and win Build regional 3 Sustain health of local 5 leading share portfolio of hero brands “flavoured” bra
Slide 15: And in 2023 we saw strong performance in the Global Brands & NAB segments
And in 2023 we saw strong performance in the Global Brands & NAB segments 2023年は、グローバルブランド＆ノンアルコールビールのセグメントで好調な業績を達成したグローバルブランドの規模拡大 1 2 Scale our Global Scale local craft Brands brands 4 Expand NAB and win Build regional 3 Sustain health of local 5 leading share portfolio of hero brands “flavoured
Slide 16: These two segments outperformed total AEI volume growth
These two segments outperformed total AEI volume growth この2つのセグメントはAEI全体の販売量の伸びを上回った Total Peroni Asahi Total AEI Global Nastro Super NABs Brands Azzurro Dry -3% +4% -1% +35% +1% Ⓒ ASAHI EUROPE & INTERNATIONAL. All rights reserved. 16 Source: Volume performance vs 2022; Internal AEI data (volume out
Slide 17: We have invested in incredible partnerships for our two focus Global Brands
We have invested in incredible partnerships for our two focus Global Brands 2つの重点グローバルブランドのために素晴らしいパートナーシップに投資してきた Ⓒ ASAHI EUROPE & INTERNATIONAL. All rights reserved. 17
Slide 19: Most talked about brand partner in Formula One before the 2024 season
WE SET INDUSTRY BEST PRACTICE AND BECAME THE MOST TALKED ABOUT BRAND PARTNER IN FORMULA ONE™ BEFORE THE 2024 SEASON STARTED – OUR MOST SUCCESSFUL PIECE OF BRAND COMMUNICATIONS EVER…. We have invested in incredible partnerships for our two 業界のベストプラクティスを確立し、2024年のシーズンが始まる前にフォーミュラ・ワン™で最も話題となるブランドパートナーと
Slide 21: Key insights: accelerating brand fame through the biggest club in the world
WE CONTINUE TO ACCELERATE BRAND FAME THROUGH THE BIGGEST CLUB IN WORLD Asahi Super FOOTBALL Dry has been seen over times across KEY INSIGHTS サッカー界最大のフットボールクラブとのパートナーシップを活用しながら、引き続きASDのブランド認知度向上を加速させる social channels マンチェスターシティ・フットボールグループは世界のサッカークラブ界で過去2年において最大のファンベースを保持（フォロワー10億人）ソーシャルメディアを通じて、 AS
Slide 22: Our newest brewery, Octopi, provides a platform for growth in North America
And our newest brewey, Octopi, provides a platform for growth in North America 新たに加わったOctopiは北米における成長のためのプラットフォームを提供する Octopi Overview Strategic Rationale Background Asahi USA and Canada Brand Growth • New build brewery, packaging and • Transforms the economics and profitability of warehouse facilit
Slide 24: Input cost pressures continue to soften but still not back to pre-war levels
Input cost pressures continue to soften but still not back to pre-war levels インプットコスト圧力は引き続き軟化しているが、まだウクライナ侵攻前の水準には戻っていない Key inputs price indices Key reasons for slower price C19 = 100 recovery to pre-war levels 戦前の水準への価格回復が遅れている主な理由 BARLEY 麦芽 350 Barley • Supply disruption due to war in Ukraine ウク
Slide 25: Labor cost pressure expected to continue
Labor cost pressure expected to continue 賃上げ圧力は続く見込み Average wage indicators development, 2019-2023 cumulative 平均賃金指標の推移（2019～2023年累計） 60 Wage growth, % nominal 50 CPI, % Real wage growth, % 40 30 20 10 0 -10 EU19 CZE GER ITA POL Despite high nominal wage growth the real average wage has declined ov
Slide 26: A reminder of our strong Revenue Management principles
A reminder of our strong Revenue Management principles 強力なRevenue Managementの原則を再確認 • Our Revenue function is called Profitable Revenue Growth Management (‘PRGM’) to remind us that we need to consider profit and revenue 収益機能は、利益と売上収益の重要性を念頭に置くべく、 Profitable Revenue Growth Management（以下、PRGM）と呼ばれている
Slide 27: We demonstrated our ability to take price when we needed to
We demonstrated our ability to take price when we needed to. We are now returning to "normalised" environment 私たちは、必要なときに必要な価格を設定する能力を示した。今、「正常化」した環境に戻りつつある Retailers have largely chosen to pass our price moves to their shoppers 小売業者は、我々の値上げ幅を購買客に転嫁することを選択した Example of two Asahi brands in one of our
Slide 28: Using technology to accelerate knowledge sharing and faster decision-making
We continue to used technology to accelerate knowledge sharing and facilitate faster, better decision-making for Promotional Effectiveness プロ―モーション効果のために、知識共有を加速させ、より迅速でより良い意思決定を促進するために、テクノロジーを活用し続けている • Automated Promotional Effectiveness Tool will be in 7 of our 8 EU brewing markets by end of the
Slide 29: Q1 results show good revenue gains, driven by pricing and share performance
Q1 results show good revenue gains, driven by pricing and good share performance across scale markets Q1は、プライシングと市場全体における良好なシェアが牽引し、順調に売上収益を伸ばした 40 30 20 10 0 -10 -20 AEI Czech Republic Poland Romania Hungary Netherlands Italy Volume Revenue Ⓒ ASAHI EUROPE & INTERNATIONAL. All rights reserved. 29 Nu
Slide 30: Strong share performance across our scale markets
Based on MAT share data we continue to see strong share performance across our scale markets 移動年平均のシェアデータに基づくと、当社の市場全体で引き続き力強いシェア実績を示している Position 1 1 1 1 1 3 3 #5 Change +170bps +10bps +100bps +210bps +70bps +50bps -20bps -20bps (MAT) Ⓒ ASAHI EUROPE & INTERNATIONAL. All rights reserved. 30 Off Trad
Slide 31: Strong focus on costs to unlock profit leverage
Strong focus on costs to unlock profit leverage 利益レバレッジを引き出すため、コストに強力に焦点を当てる Value Supply Chain Fixed costs Automation & engineering optimization efficiency Digitalization バリューエンジニアリングサプライチェーンの最適化固定費の効率化オートメーション＆デジタル化 • High level of scrutiny on COGS • RTM revision to unlock cost • Strong focus o
Slide 33: Our People Strategy has four pillars and we're making good progress
Our People Strategy has four pillars and we’re making good progress 人材戦略には四つの柱があり、すべての項目で順調に進んでいる A modern, diverse Build a learning consumer Support the Health & Accelerate the inclusive culture that focused organisation Wellbeing of all our growth of talent drive success 人材の成長を加速する消費者にフォーカスした学習型組
Slide 35: AEI Sustainability Journey: Carbon Neutral / Net Zero Across Our Value Chain
AEI SUSTAINABILITY JOURNEY 2040 CARBON NEUTRAL/ NET ZERO ACROSS OUR VALUE CHAIN バリューチェーン全体でカーボンニュートラル／ネットゼロを実現 2023 FOCUS ON RENEWABLE ELECTRICITY (Towards 2025 Target) 再生可能電力への注力(2025年目標に向けて) 2025 100% RENEWABLE RENEWABLE HEAT (Due-diligence & implementation towards ELECTRICITY 2030 Target) 100%再生
Slide 36: Legacy 2030 – Our Progress & Looking Forward
Legacy 2030 – Our Progress & Looking Forward Legacy 2030 - 私たちの歩みと未来への展望 Progress Active Participation & Thought • In the Netherlands, Poland 100% of electricity in our Leadership through Partnerships breweries now comes from renewable sources オランダ、ポーランドの醸造所で使用する電力の100％は再生可能エネルギーからなるパートナーシップを通じた積極的
Slide 38: We introduced our rediscovered Purpose in 2022
We introduced our rediscovered Purpose in 2022 2022年に再確認したパーパスを導入有意義なつながりを生み出す地球をポジティブにする力になる人と社会にとってポジティブで包括的な経験を提供する期待を超えるおいしさ、楽しい生活文化の創造挑戦と革新最高の品質感動の共有 Ⓒ ASAHI EUROPE & INTERNATIONAL. All rights reserved. 38
Slide 39: Our Purpose isn't just a story-line
Our Purpose isn‘t just a story-line 私たちのパーパスは単なるストーリーラインではない CZ - Radegast raised awareness of PL - Zubr works with partners to support CZ - For HOPS is linking experts water scarcity in nature with beer endangered species and contribute at using state-of-the-art brewed from humidity in the air esta
Slide 41: Despite the difficult economic climate, we remain cautiously optimistic for 2024
Despite the difficult economic climate, we remain cautiously optimistic for 2024 performance 厳しい経済情勢にもかかわらず、2024 年の業績について慎重ながらも前向きな見通しを維持している • No change to previous guidance on Revenue (+7.6%) and COP (+1.3%). 売上収益（YoY＋7.6％）、事業利益（YoY＋1.3％）のガイダンスについては変更なし • The outlook for consumers remains difficul
Slide 42: Questions & Answers
Questions & Answers 42

Asahi Group Holdings — European Business Strategy Briefing Session 2024 on 6ix

Asahi — European Business Strategy Briefing Session 2024

Slide 1: Asahi Europe & International European Business Strategy Briefing Session

Slide 2: Agenda

Slide 3: Asahi Europe & International Overview

Slide 4: AEI Leadership Team

Slide 5: We're centred in Europe, but manage the complexity of global expansion

Slide 6: Strategy Recap

Slide 7: Our overarching Purpose is clear, with a strategy based on four pillars

Slide 8: Ⓒ ASAHI EUROPE & INTERNATIONAL. All rights reserved.

Slide 9: Macro data is starting to show less challenging conditions

Slide 10: Category development is under long term pressure

Slide 11: Despite pressure on consumer spending, we still see the trend to premiumisation

Slide 12: Premiumisation is generally holding in Q1 with continued pressure on Affordable

Slide 13: The market is innovating – with the focus on premium segments

Slide 14: Our portfolio strategy is aligned to these category trends

Slide 15: And in 2023 we saw strong performance in the Global Brands & NAB segments

Slide 16: These two segments outperformed total AEI volume growth

Slide 17: We have invested in incredible partnerships for our two focus Global Brands

Slide 18: Peroni Nastro Azzurro 0.0% x Scuderia Ferrari

Slide 19: Most talked about brand partner in Formula One before the 2024 season

Slide 20: Ⓒ ASAHI EUROPE & INTERNATIONAL. All rights reserved.

Slide 21: Key insights: accelerating brand fame through the biggest club in the world

Slide 22: Our newest brewery, Octopi, provides a platform for growth in North America

Slide 23: Ⓒ ASAHI EUROPE & INTERNATIONAL. All rights reserved.

Slide 24: Input cost pressures continue to soften but still not back to pre-war levels

Slide 25: Labor cost pressure expected to continue

Slide 26: A reminder of our strong Revenue Management principles

Slide 27: We demonstrated our ability to take price when we needed to

Slide 28: Using technology to accelerate knowledge sharing and faster decision-making

Slide 29: Q1 results show good revenue gains, driven by pricing and share performance

Slide 30: Strong share performance across our scale markets

Slide 31: Strong focus on costs to unlock profit leverage

Slide 32: Ⓒ ASAHI EUROPE & INTERNATIONAL. All rights reserved.

Slide 33: Our People Strategy has four pillars and we're making good progress

Slide 34: Ⓒ ASAHI EUROPE & INTERNATIONAL. All rights reserved.

Slide 35: AEI Sustainability Journey: Carbon Neutral / Net Zero Across Our Value Chain

Slide 36: Legacy 2030 – Our Progress & Looking Forward

Slide 37: Purpose

Slide 38: We introduced our rediscovered Purpose in 2022

Slide 39: Our Purpose isn't just a story-line

Slide 40: Closing Remarks

Slide 41: Despite the difficult economic climate, we remain cautiously optimistic for 2024

Slide 42: Questions & Answers