Komori
Financial results presentation2587Suntory Beverage & Food LimitedFood

Briefing on results for the fiscal year ended December 2023

In fiscal 2023, revenue and operating profit reached record highs, driven by favorable foreign exchange movements, higher sales volume and price revisions. For fiscal 2024, the company forecasts revenue of ¥1,670.0 billion and operating profit of ¥149.0 billion, and presented targets under its new medium-term management plan for growth investment and shareholder returns.

Worth reading
70In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
1413
¥100 million
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationFiscal year ended December 202313 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥15,917 100 million+9.7%
Operating profit¥1,417 100 million+1.5%
Net income¥827 100 million+0.5%
Results for the three months of the current quarter
Revenue
¥3,983 100 million+7.9%
Operating profit
¥250 100 million+0.9%
Quarterly profit attributable to owners of the parent
¥156 100 million+8.9%
Full-year earnings forecast
Revenue
¥16,700 100 million
Operating profit
¥1,490 100 million
Operating profit on an existing-business basis
¥1,540 100 million
Profit for the period attributable to owners of the parent
¥845 100 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • 日本の売上収益¥549 100 million
  • 日本の原価¥-166 100 million
  • 日本の為替・原材料市況¥-220 100 million
  • 日本の販促費・広告宣伝費¥-61 100 million
  • 日本のその他¥-33 100 million
  • 日本の売上総利益¥384 100 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • 145 円、期中平均
    AssumptionsU.S. dollar exchange rate
  • 158 円、期中平均
    AssumptionsEuro exchange rate
  • 98 Year-on-year %
    Assumptions日本の飲料市場販売数量
  • 99 Year-on-year %
    AssumptionsSales volume in Japan
New initiatives
  • 2024-2026年の新中期経営計画の策定
  • 戦略的な設備投資の強化
  • 英国でのエナジーブランド『CELSIUS』販売開始
  • APACでのRTD販売開始準備
  • DEI推進協議会の創設と女性管理職比率30％目標
  • サステナブルボトルへの切り替え強化
Key KPIsA metric the company considers important as a management benchmark.
  • 日本の飲料市場販売数量100 Year-on-year %
    Year on year against the same period last yearEstimate
  • Sales volume in Japan102 Year-on-year %
    Year on year against the same period last yearYear-on-Year
  • 日本の販売数量合計454.3 million cases
    Year on year against the same period last year+2.0%
  • 過去最高シェアRecord high
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Sales volume in Japan102 Year-on-year %
  • 日本の販売数量合計454.3 million cases
  • Sales volume of key brandsブランド別に記載
Segment results
  • Japan
    Revenue¥7,081 100 million (YoY +8.4%)
    Segment profit¥405 100 million (YoY +21.0%)
  • APAC
    Revenue¥3,714 100 million (YoY +5.3%)
    Segment profit¥431 100 million (YoY -25.4%)
  • Europe
    Revenue¥3,393 100 million (YoY +13.4%)
    Segment profit¥517 100 million (YoY +22.8%)
  • Americas
    Revenue¥1,729 100 million (YoY +18.8%)
    Segment profit¥210 100 million (YoY +15.2%)
Medium-term management plan targets
Period2024-2026
Revenue growth rate平均年率1桁台半ば（為替中立）
Operating profit growth平均年率1桁台後半（為替中立）
Operating profit margin2026年迄に10％超
Free cash flow2026年に1,400億円強
Growth Investment3,000億円～6,000億円
Financial targets
最大ネットD/Eレシオ1倍（2021-2023年計画の投資上限目安）
Market Size / Share
  • 日本の飲料市場販売数量100 前年比％2023年、推定
  • Sales volume in Japan102 前年比％2023年
  • 2023-2026日本売上成長想定2 CAGR％
  • 2023-2026日本市場成長推定0～1
Number of employees
Number of Employees23,000 people
Capital expenditures
3,000 億円2024-2026年の設備投資計画
Annual Dividend
FY2023
Dividend per share¥80 per share
Total dividends¥247 per share
配当総額単位¥100 million
2024年度予想
Dividend per share¥110 per share
Total dividends¥340 per share
配当総額単位¥100 million
Payout ratio
FY202330 %
Fiscal 2024 target40 %
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFiscal year ended December 2023
Net Sales¥15,917 100 million (YoY +9.7%)
Operating profit¥1,417 100 million (YoY +1.5%)
Net income¥827 100 million (YoY +0.5%)
Results for the three months of the current quarterRevenue ¥3,983 100 million (YoY +7.9%) / Operating profit ¥250 100 million (YoY +0.9%) / Quarterly profit attributable to owners of the parent ¥156 100 million (YoY +8.9%)
Full-year earnings forecastRevenue ¥16,700 100 million / Operating profit ¥1,490 100 million / Operating profit on an existing-business basis ¥1,540 100 million / Profit for the period attributable to owners of the parent ¥845 100 million
Segment resultsSegment Japan / Revenue ¥7,081 100 million (YoY +8.4%) / Segment profit ¥405 100 million (YoY +21.0%), Segment APAC / Revenue ¥3,714 100 million (YoY +5.3%) / Segment profit ¥431 100 million (YoY -25.4%), Segment Europe / Revenue ¥3,393 100 million (YoY +13.4%) / Segment profit ¥517 100 million (YoY +22.8%), Segment Americas / Revenue ¥1,729 100 million (YoY +18.8%) / Segment profit ¥210 100 million (YoY +15.2%)
Breakdown of Factors Affecting the ChangeFactors 日本の売上収益 / Amount ¥549 100 million, Factors 日本の原価 / Amount ¥-166 100 million, Factors 日本の為替・原材料市況 / Amount ¥-220 100 million, Factors 日本の販促費・広告宣伝費 / Amount ¥-61 100 million, Factors 日本のその他 / Amount ¥-33 100 million, Factors 日本の売上総利益 / Amount ¥384 100 million
Key KPIsIndicator name 日本の飲料市場販売数量 / Value 100 Year-on-year % / Year on year against the same period last year Estimate, Indicator name Sales volume in Japan / Value 102 Year-on-year % / Year on year against the same period last year Year-on-Year, Indicator name 日本の販売数量合計 / Value 454.3 million cases / Year on year against the same period last year 2 million cases, Indicator name 過去最高シェア / Value Record high / Year on year against the same period last year Not disclosed
Unit price and quantity metricsIndicator name Sales volume in Japan / Value 102 Year-on-year %, Indicator name 日本の販売数量合計 / Value 454.3 million cases, Indicator name Sales volume of key brands / Value ブランド別に記載
Number of employeesNumber of Employees 23,000 people / Change during the period Not disclosed
Assumptions Underlying the Business OutlookAssumptions U.S. dollar exchange rate / Value 145 円、期中平均, Assumptions Euro exchange rate / Value 158 円、期中平均, Assumptions 日本の飲料市場販売数量 / Value 98 Year-on-year %, Assumptions Sales volume in Japan / Value 99 Year-on-year %
Medium-term management plan targetsPeriod 2024-2026 / Revenue growth rate 平均年率1桁台半ば（為替中立） / Operating profit growth 平均年率1桁台後半（為替中立） / Operating profit margin 2026年迄に10％超 / Free cash flow 2026年に1,400億円強 / Growth Investment 3,000億円～6,000億円
Financial targets最大ネットD/Eレシオ 1倍（2021-2023年計画の投資上限目安）
Annual DividendFY2023 Dividend per share ¥80 per share / Total dividends ¥247 per share / 配当総額単位 ¥100 million / 2024年度予想 Dividend per share ¥110 per share / Total dividends ¥340 per share / 配当総額単位 ¥100 million
Payout ratioFY2023 30 % / Fiscal 2024 target 40 %
Capital expenditures3,000 億円（2024-2026年の設備投資計画）
Market Size / ShareIndicator name 日本の飲料市場販売数量 / Value 100 前年比％（2023年、推定）, Indicator name Sales volume in Japan / Value 102 前年比％（2023年）, Indicator name 2023-2026日本売上成長想定 / Value 2 CAGR％, Indicator name 2023-2026日本市場成長推定 / Value 0～1
New initiatives2024-2026年の新中期経営計画の策定, 戦略的な設備投資の強化, 英国でのエナジーブランド『CELSIUS』販売開始, APACでのRTD販売開始準備, DEI推進協議会の創設と女性管理職比率30％目標, サステナブルボトルへの切り替え強化
Items this document does not state (11)
Ordinary incomeGross Profit MarginOperating profit marginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planNumber of stores and locationsRisk amount incorporated into the outlookAcquisition of treasury sharesOrders received and order backlogKey points of the Q&A

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.

コアブランドへの集中、販売数量の増加、価格改定、RGM活動、増収効果、コストマネジメントに加え、為替影響が業績に寄与した。APACでは需要減やインフレ・競争環境の影響が利益を押し下げた。

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.
Briefing on results for the fiscal year ended December 2023 | Suntory Beverage & Food Limited (2587) timely disclosure | Komori