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Financial results presentation2502Asahi Group Holdings,Ltd.Food

Supplementary Materials for the Third-Quarter Financial Results for the Fiscal Year Ended December 2025

For the cumulative third quarter of 2025, revenue decreased 0.6% year on year, business profit fell 5.5% and operating profit declined 18.0%, resulting in lower revenue and earnings. Adjusting items, including impairment losses, weighed particularly on operating profit, while the full-year forecasts for revenue and business profit call for increases in both revenue and earnings.

Worth reading
45Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Deterioration
Direction inferred from the company’s description.
Scale
-348
¥100 million (year-on-year change in operating income)
Wording
Conditional
How definitive the wording is.

Contents of this document

Supplementary materials to the earnings report2025年12月期 第3四半期（2025年Q3累計）8 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥21,548 100 million-0.6%
Operating profit¥1,587 100 million-18.0%
Ordinary income¥1,518 100 million -20.5%pre-tax quarterly profit, IFRS
Net income¥1,028 100 million -26.2%profit for the quarter attributable to owners of the parent
Full-year earnings forecast
Revenue
¥29,500 100 million
Business profit
¥2,900 100 million
Operating profit
¥2,550 100 million
Profit before tax
¥2,420 100 million
Profit for the period
¥1,690 100 million
Profit for the period attributable to owners of the parent
¥1,675 100 million
Adjusted profit attributable to owners of the parent
¥1,775 100 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Adjustments from Business Profit
¥-230 100 million
Gains and losses on disposal and sale of non-current assets
¥8 100 million
Business integration-related expenses
¥77 100 million
Impairment loss
¥-237 100 million
Other
¥-78 100 million
Financial Income and Expenses
¥-39 100 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Euro
164 yen average
Australian dollar
94 yen average
US dollars
146 yen average
Key KPIsA metric the company considers important as a management benchmark.
  • EBITDA¥3,043 100 million
    Year on year against the same period last year-3.7%
  • 事業利益率（酒税込み）9.4 %
    Year on year against the same period last year-0.5%
  • 事業利益率（酒税抜き）11.8 %
    Year on year against the same period last year-0.6%
  • EBITDA比率（酒税込み）14.1 %
    Year on year against the same period last year-0.5%
  • EBITDA比率（酒税抜き）17.7 %
    Year on year against the same period last year-0.6%
Segment results
Japan and East Asia
Revenue
¥10,285 100 million+1.3%
Business profit
¥1,000 100 million-3.1%
Europe
Revenue
¥5,826 100 million-2.2%
Business profit
¥918 100 million+2.4%
Asia Pacific
Revenue
¥5,313 100 million-2.4%
Business profit
¥595 100 million-6.2%
Other Businesses
Revenue
¥201 100 million-1.2%
Business profit
¥39 100 million+2.6%
Financial targets
ROIC
2025年予想6.9 %
20246.9 %
ROE
2025年予想6.4 %
20247.5 %
Adjusted ROE
2025年予想10 %
202410.7 %
DOE
2025年予想3 %
20242.9 %
Net Debt/EBITDA
2025年予想3.11 times
20242.49 times
Net debt-to-equity ratio
2025年予想0.52 times
20240.37 times
Capital expenditures
780 億円2025年Q3累計
Payout ratio
46.1 %
Acquisition of treasury shares
Amount
¥700 100 million
Contents of this document
ItemDetails
Document typeSupplementary materials to the earnings report
Fiscal Period Covered2025年12月期 第3四半期（2025年Q3累計）
Net Sales¥21,548 100 million (YoY -0.6%)
Operating profit¥1,587 100 million (YoY -18.0%)
Ordinary income¥1,518 100 million (pre-tax quarterly profit, IFRS) (YoY -20.5%)
Net income¥1,028 100 million (profit for the quarter attributable to owners of the parent) (YoY -26.2%)
Full-year earnings forecastRevenue ¥29,500 100 million / Business profit ¥2,900 100 million / Operating profit ¥2,550 100 million / Profit before tax ¥2,420 100 million / Profit for the period ¥1,690 100 million / Profit for the period attributable to owners of the parent ¥1,675 100 million / Adjusted profit attributable to owners of the parent ¥1,775 100 million
Segment resultsJapan and East Asia Revenue ¥10,285 100 million (YoY +1.3%) / Business profit ¥1,000 100 million (YoY -3.1%) / Europe Revenue ¥5,826 100 million (YoY -2.2%) / Business profit ¥918 100 million (YoY +2.4%) / Asia Pacific Revenue ¥5,313 100 million (YoY -2.4%) / Business profit ¥595 100 million (YoY -6.2%) / Other Businesses Revenue ¥201 100 million (YoY -1.2%) / Business profit ¥39 100 million (YoY +2.6%)
Breakdown of Factors Affecting the ChangeAdjustments from Business Profit ¥-230 100 million / Gains and losses on disposal and sale of non-current assets ¥8 100 million / Business integration-related expenses ¥77 100 million / Impairment loss ¥-237 100 million / Other ¥-78 100 million / Financial Income and Expenses ¥-39 100 million
Key KPIsIndicator name EBITDA / Value ¥3,043 100 million / Year on year against the same period last year ¥-3.7 100 million, Indicator name 事業利益率（酒税込み） / Value 9.4 % / Year on year against the same period last year -0.5 %, Indicator name 事業利益率（酒税抜き） / Value 11.8 % / Year on year against the same period last year -0.6 %, Indicator name EBITDA比率（酒税込み） / Value 14.1 % / Year on year against the same period last year -0.5 %, Indicator name EBITDA比率（酒税抜き） / Value 17.7 % / Year on year against the same period last year -0.6 %
Assumptions Underlying the Business OutlookEuro 164 yen (average) / Australian dollar 94 yen (average) / US dollars 146 yen (average)
Financial targetsROIC 2025年予想 6.9 % / 2024 6.9 % / ROE 2025年予想 6.4 % / 2024 7.5 % / Adjusted ROE 2025年予想 10 % / 2024 10.7 % / DOE 2025年予想 3 % / 2024 2.9 % / Net Debt/EBITDA 2025年予想 3.11 times / 2024 2.49 times / Net debt-to-equity ratio 2025年予想 0.52 times / 2024 0.37 times
Payout ratio46.1 %
Acquisition of treasury sharesAmount ¥700 100 million / Period Not disclosed
Capital expenditures780 億円（2025年Q3累計）
Items this document does not state (16)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsAnnual DividendOrders received and order backlogMarket Size / ShareKey points of the Q&ANew initiatives

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

事業利益からの調整項目が前年同期比230億円悪化し、減損損失が253億円（前年同期16億円）発生した。また、金融収支が39億円悪化し、アジアパシフィックの事業利益も39億円減少した。

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Supplementary Materials for the Third-Quarter Financial Results for the Fiscal Year Ended December 2025 | Asahi Group Holdings,Ltd. (2502) timely disclosure | Komori