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Presentation materials for financial results2502Asahi Group Holdings,Ltd.Food

Supplementary Financial Results Materials for the Fiscal Year Ending December 2025

In 2025, revenue, business profit and profit attributable to owners of the parent were lower than in the previous year. For 2026, revenue is forecast at ¥3,220 billion, business profit at ¥291 billion and profit attributable to owners of the parent at ¥194 billion, with a recovery from 2025 results expected.

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Supplementary materials to the earnings reportFull-year results for the fiscal year ended December 2025 and full-year earnings forecast for the fiscal year ending December 20267 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales28,947 Hundreds of millions of yen-1.5%
Operating profit1,859 Hundreds of millions of yen-30.9%
Ordinary income1,793 Hundreds of millions of yen-32.9%
Net income1,216 Hundreds of millions of yen-36.7%
Full-year earnings forecast
Revenue
32,200 Hundreds of millions of yen
Business profit
2,910 Hundreds of millions of yen
Operating profit
2,970 Hundreds of millions of yen
Profit before tax
2,740 Hundreds of millions of yen
Profit for the period
1,956 Hundreds of millions of yen
Profit for the period attributable to owners of the parent
1,940 Hundreds of millions of yen
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
2025 Operating Profit Adjustments
Adjustments from Business Profit
-771 Hundreds of millions of yen
Gains and losses on disposal and sale of non-current assets
-41 Hundreds of millions of yen
Business integration-related expenses
-151 Hundreds of millions of yen
Impairment loss
-276 Hundreds of millions of yen
Other
-303 Hundreds of millions of yen
Change in Business Profit by Segment, 2026 Forecast
Japan and East Asia
54 Hundreds of millions of yen
Europe
88 Hundreds of millions of yen
Asia Pacific
215 Hundreds of millions of yen
Other Businesses
-22 Hundreds of millions of yen
Adjustments
-17 Hundreds of millions of yen
Amortization of intangible assets
-37 Hundreds of millions of yen
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Euro
2026 Forecast Average¥184
Australian dollar
2026 Forecast Average¥110
US dollars
2026 Forecast Average¥157
Key KPIsA metric the company considers important as a management benchmark.
  • EBITDA
    20254,022 Hundreds of millions of yen
    Year-on-year (%)-4
  • EPS
    2025¥81.3
    Year on year against the same period last year-45.4%
  • ROIC
    20256.1 %
    Year-on-year_pt-0.8
  • ROE
    20254.3 %
    Year-on-year_pt-3.2
  • DOE
    20252.7 %
    Year-on-year_pt-0.2
  • Payout ratio
    202564 %
    Year-on-year_pt25.3
  • Net Debt/EBITDA
    20253.7 times
    Year on year against the same period last year+1.2%
  • Net debt-to-equity ratio
    20250.5 times
    Year on year against the same period last year+0.1%
  • Operating cash flow
    20251,048 Hundreds of millions of yen
    Year on year against the same period last year-2,989.0%
  • Free cash flow
    2025-434 Hundreds of millions of yen
    Year on year against the same period last year-3,495.0%
Segment results
Japan and East Asia
Revenue
13,272 Hundreds of millions of yen
Business profit
1,116 Hundreds of millions of yen
Revenue_yoy_pct-3.7
Business profit_yoy_pct-16.1
Europe
Revenue
7,682 Hundreds of millions of yen
Business profit
1,131 Hundreds of millions of yen
Revenue_yoy_pct0.7
Business profit_yoy_pct8.1
Asia Pacific
Revenue
7,832 Hundreds of millions of yen
Business profit
1,075 Hundreds of millions of yen
Revenue_yoy_pct0.1
Business profit_yoy_pct-1.4
Other Businesses
Revenue
267 Hundreds of millions of yen
Business profit
42 Hundreds of millions of yen
Revenue_yoy_pct0.7
Business profit_yoy_pct-0.1
Capital expenditures
1,434 Hundreds of millions of yen
Payout ratio
2026 forecast43.9 %
Acquisition of treasury shares
2025 actual
700 Hundreds of millions of yen
Contents of this document
ItemDetails
Document typeSupplementary materials to the earnings report
Fiscal Period CoveredFull-year results for the fiscal year ended December 2025 and full-year earnings forecast for the fiscal year ending December 2026
Net Sales28,947 Hundreds of millions of yen (YoY -1.5%)
Operating profit1,859 Hundreds of millions of yen (YoY -30.9%)
Ordinary income1,793 Hundreds of millions of yen (YoY -32.9%)
Net income1,216 Hundreds of millions of yen (YoY -36.7%)
Full-year earnings forecastRevenue 32,200 Hundreds of millions of yen / Business profit 2,910 Hundreds of millions of yen / Operating profit 2,970 Hundreds of millions of yen / Profit before tax 2,740 Hundreds of millions of yen / Profit for the period 1,956 Hundreds of millions of yen / Profit for the period attributable to owners of the parent 1,940 Hundreds of millions of yen
Segment resultsJapan and East Asia Revenue 13,272 Hundreds of millions of yen / Business profit 1,116 Hundreds of millions of yen / Revenue_yoy_pct -3.7 / Business profit_yoy_pct -16.1 / Europe Revenue 7,682 Hundreds of millions of yen / Business profit 1,131 Hundreds of millions of yen / Revenue_yoy_pct 0.7 / Business profit_yoy_pct 8.1 / Asia Pacific Revenue 7,832 Hundreds of millions of yen / Business profit 1,075 Hundreds of millions of yen / Revenue_yoy_pct 0.1 / Business profit_yoy_pct -1.4 / Other Businesses Revenue 267 Hundreds of millions of yen / Business profit 42 Hundreds of millions of yen / Revenue_yoy_pct 0.7 / Business profit_yoy_pct -0.1
Breakdown of Factors Affecting the Change2025 Operating Profit Adjustments Adjustments from Business Profit -771 Hundreds of millions of yen / Gains and losses on disposal and sale of non-current assets -41 Hundreds of millions of yen / Business integration-related expenses -151 Hundreds of millions of yen / Impairment loss -276 Hundreds of millions of yen / Other -303 Hundreds of millions of yen / Change in Business Profit by Segment, 2026 Forecast Japan and East Asia 54 Hundreds of millions of yen / Europe 88 Hundreds of millions of yen / Asia Pacific 215 Hundreds of millions of yen / Other Businesses -22 Hundreds of millions of yen / Adjustments -17 Hundreds of millions of yen / Amortization of intangible assets -37 Hundreds of millions of yen
Key KPIsIndicator name EBITDA / 2025 4,022 Hundreds of millions of yen / Year-on-year (%) -4, Indicator name EPS / 2025 ¥81.3 / Year on year against the same period last year -45.4, Indicator name ROIC / 2025 6.1 % / Year-on-year_pt -0.8, Indicator name ROE / 2025 4.3 % / Year-on-year_pt -3.2, Indicator name DOE / 2025 2.7 % / Year-on-year_pt -0.2, Indicator name Payout ratio / 2025 64 % / Year-on-year_pt 25.3, Indicator name Net Debt/EBITDA / 2025 3.7 times / Year on year against the same period last year 1.21, Indicator name Net debt-to-equity ratio / 2025 0.5 times / Year on year against the same period last year 0.12, Indicator name Operating cash flow / 2025 1,048 Hundreds of millions of yen / Year on year against the same period last year -2,989, Indicator name Free cash flow / 2025 -434 Hundreds of millions of yen / Year on year against the same period last year -3,495
Assumptions Underlying the Business OutlookEuro 2026 Forecast Average ¥184 / Australian dollar 2026 Forecast Average ¥110 / US dollars 2026 Forecast Average ¥157
Payout ratio2026 forecast 43.9 %
Acquisition of treasury shares2025 actual 700 Hundreds of millions of yen / 2026 forecast Not disclosed
Capital expenditures1,434 Hundreds of millions of yen
Items this document does not state (17)
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 targetsFinancial 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.

For 2025, revenue on a constant-currency basis declined 1.4% year on year, while business profit declined 7.8%. Factors contributing to the decline in operating profit included gains and losses on the disposal and sale of property, plant and equipment, business integration-related expenses, impairment losses and other adjustment items. For 2026, revenue is expected to increase 5.4% and business profit 3.2% on a constant-currency basis.

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Supplementary Financial Results Materials for the Fiscal Year Ending December 2025 | Asahi Group Holdings,Ltd. (2502) timely disclosure | Komori