Kirin Holdings Company, Limited

2503

JP3258000003

Brewers

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-05-10 am EDT			5-day change	1st Jan Change
2,297 ^JPY	+2.29%		+0.35%	+11.18%

May. 10	Kirin Holdings' Attributable Profit Surges 363% in Fiscal Q1	MT
May. 08	Kirin Holdings Company, Limited and National Institute of Infectious Diseases Jointly Conducts Studies to Investigate the Protective Efficacy of LC-Plasma-Based Vaccine Research Selected for SCARDA Project	CI

Kirin : Financial Results as of June 30, 2023

August 08, 2023 at 03:11 am EDT

KIRIN HOLDINGS COMPANY, LIMITED

SUMMARY OF CONSOLIDATED FINANCIAL RESULTS

FOR THE SIX MONTHS ENDED JUNE 30, 2023 (UNDER IFRS)

(UNAUDITED)

August 8, 2023

(English Translation)

Fiscal year ending December 31, 2023

KIRIN HOLDINGS COMPANY, LIMITED

NAKANO CENTRAL PARK SOUTH, 10-2, Nakano 4-chome,Nakano-ku, Tokyo, Japan (URL https://www.kirinholdings.com/en/)

Code No.:	2503
Shares Listed:	Tokyo, Nagoya, Sapporo and Fukuoka
Representative:	Mr. Yoshinori Isozaki, President and CEO
For further information, please contact:	Mr. Nobuhiko Hori,
	General Manager of Corporate Communications Department
	Telephone: +81-3-6837-7015 from overseas

Submission date of quarterly securities report scheduled:	August 9, 2023
Commencement date of dividend distribution scheduled:	September 5, 2023
Preparation of supplementary documents to the financial results:	Yes
Holding of financial results presentation (for institutional investors and analysts):	Yes

1. Consolidated business results and financial position for the first six months of the current fiscal year (January 1, 2023 - June 30, 2023)

	[Unit: Japanese yen (¥)]
(1) Results of operations (cumulative):	(Amounts are rounded to the nearest ¥1 million)

(Percentage change compares current results with those of the same period of the previous year)

	Revenue	Percentage		Normalized	Percentage	Profit	Percentage
		change	operating profit	change	before tax	change
	(¥ millions)	(%)		(¥ millions)	(%)	(¥ millions)	(%)

Six months ended
June 30, 2023	970,232	5.8	75,171	4.3	57,074	(40.1)
June 30, 2022	917,048	6.1	72,080	0.2	95,247	68.6


	Profit	Percentage	Profit attributable to	Percentage	Total	Percentage
	comprehensive
		change	owners of the Company	change	change
		income
	(¥ millions)	(%)		(¥ millions)	(%)	(%)
		(¥ millions)


Six months ended
June 30, 2023	41,799	(48.4)	31,990	(42.2)	134,652	(20.4)
June 30, 2022	81,039	115.8	55,350	133.1	169,065	126.1


	Basic earnings	Diluted earnings
	per share	per share
	(¥)	(¥)

Six months ended
June 30, 2023	39.50	39.49
June 30, 2022	66.60	66.59

Reference: Operating profit		Six months ended June 30, 2023	¥36,922 million	(51.5%)
		Six months ended June 30, 2022	¥76,137 million	82.0%

Normalized operating profit is a profit indicator for measuring recurring performance which is calculated by deducting cost of sales and selling, general and administrative expenses from revenue.

―i―

(2) Financial position:

	Total assets	Total equity	Equity	Equity ratio
			attributable to	attributable to
			owners of the	owners of the
			Company	Company
	(¥ millions)	(¥ millions)	(¥ millions)	(%)
As of
June 30, 2023	2,597,576	1,332,258	1,059,426	40.8
December 31, 2022	2,542,263	1,253,203	980,022	38.5

2. Dividends

				Annual dividends

		First quarter	Second quarter	Third quarter	Year-end	Total
		(¥)	(¥)	(¥)	(¥)	(¥)

Fiscal year ended December 31, 2022	－	32.50	－	36.50	69.00

Fiscal year ending December 31, 2023	－	34.50

Fiscal year ending December 31, 2023			－	34.50	69.00
(Forecast)


Note:	Revision of the forecast from recently announced figures: None

3. Forecast consolidated business results for the current fiscal year (January 1, 2023 - December 31, 2023)

(Percentage change compares forecast results with actual results of the previous year)

		Revenue	Percentage	Normalized	Percentage	Profit		Percentage
			change	operating profit	change	before tax		change
		(¥ millions)	(%)	(¥ millions)	(%)	(¥ millions)	(%)
Fiscal year ending	2,115,000	6.3	192,000	0.4	196,000	2.4
December 31, 2023



		Profit	Percentage	Profit attributable to	Percentage	Basic earnings
		owners of the
			change	change	per share
			Company
		(¥ millions)	(%)	(%)	(¥)
		(¥ millions)

Fiscal year ending	148,500	3.3	113,000	1.8	139.54
December 31, 2023

Note:	Revision of the forecast from recently announced figures: None
Reference:	Operating profit		Fiscal year ending December 31, 2023	¥169,000 million	45.7%

―ii―

* Notes

(1)	Changes in significant subsidiaries for the six months ended June 30, 2023:	None
	(Changes in specified subsidiaries accompanying change in scope of consolidation)
	Newly included: －	Excluded: －
(2)	Changes in accounting policies and changes in accounting estimates
	i. Changes in accounting policies required by IFRS:		Yes
	ii. Changes in accounting policies due to other reasons:		None
	iii. Changes in accounting estimates:		None

Note: For details, please see "NOTES TO CONDENSED QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS (CHANGES IN ACCOUNTING POLICIES)" on page 10.

(3) Number of shares outstanding (ordinary shares)
i. Number of shares outstanding at the end of the period (including treasury shares)
As of June 30, 2023	914,000,000 shares
As of December 31, 2022	914,000,000 shares
ii. Number of treasury shares at the end of the period
As of June 30, 2023	104,121,539 shares
As of December 31, 2022	104,171,578 shares
iii. Average number of shares during the period (cumulative from the beginning of the fiscal year)
For the six months ended June 30, 2023	809,834,061 shares
For the six months ended June 30, 2022	831,023,498 shares

Note: Number of treasury shares at the end of the period includes shares held in the BIP (Board Incentive Plan) Trust (1,911,065 shares at June 30, 2023 and 1,965,900 shares at December 31, 2022).

These shares are excluded in calculation of the average number of shares during the period.

The summary of quarterly consolidated financial results is not subject to a quarterly review by certified public accountants or an audit corporation.
Information about proper usage of forecast business results, and other special instructions
1. The statements concerning future performance that are presented in this document are based on judgments using information available to Kirin Holdings and the Kirin Group as of the release date of this material. Certain risks and uncertainties could cause the results of Kirin Holdings and the Kirin Group to differ materially from any projections presented herein. These risks and uncertainties include, but are not limited to, the economic circumstances surrounding the Company's businesses, market trends, and exchange rates.
2. The Company will post the Supplementary Documents to the Financial Results today, Tuesday, August 8, and will post the presentation materials from the financial results presentation to be held on Wednesday, August 9, the presentation content (video) and the main Q&A at the meeting as soon as possible on the Company's website.
  (URL of the Company's website) https://www.kirinholdings.com/en/investors/

―iii―

ATTACHED MATERIALS

INDEX

1. CONDENSED QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS	2
(1) CONDENSED QUARTERLY CONSOLIDATED STATEMENT OF FINANCIAL POSITION	2
(2) CONDENSED QUARTERLY CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND COMPREHENSIVE INCOME… 4
(3) CONDENSED QUARTERLY CONSOLIDATED STATEMENT OF CHANGES IN EQUITY	6
(4) CONDENSED QUARTERLY CONSOLIDATED STATEMENT OF CASH FLOWS	8
(5) NOTES TO CONDENSED QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS	10
(GOING CONCERN ASSUMPTION)	10
(CHANGES IN ACCOUNTING POLICIES)…	10

―1―

1. CONDENSED QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS

CONDENSED QUARTERLY CONSOLIDATED STATEMENT OF FINANCIAL POSITION

		(¥ millions)

	At December 31, 2022	At June 30, 2023

Assets
Non-current assets
Property, plant and equipment	560,642	583,138
Goodwill	289,526	307,477
Intangible assets	200,900	201,338
Equity-accounted investees	361,764	361,964
Other financial assets	103,380	103,833
Other non-current assets	27,700	28,303
Deferred tax assets	111,330	117,264

Total non-current assets	1,655,242	1,703,318
Current assets
Inventories	290,171	333,036
Trade and other receivables	409,168	356,892
Other financial assets	8,376	21,291
Other current assets	41,128	38,855
Cash and cash equivalents	88,060	139,988

(Sub-total)	836,903	890,062

Assets held for sale	50,117	4,196

Total current assets	887,021	894,258

Total assets	2,542,263	2,597,576

―2―

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Disclaimer

Kirin Holdings Company Limited published this content on 08 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 August 2023 07:10:11 UTC.

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Company Profile

Kirin Holdings Company, Limited is a holding company organized around 3 areas of activity: - production of beverages (61.6% of net sales): beers, wines and liqueurs (brands Budweiser, Guinness, Heineken, Franzia, Frontera, etc.), carbonated beverages (brands Kirin Lemon), fruit juices (Kirin Tropicana), mineral water (Volvic and Kirin Alkali-Ion-no-Mizu), coffees (Kirin Fire), teas (Kirin Gogo-no-kocha), dairy products etc.; - manufacturing of pharmaceutical products (19.3%): especially for anemia and allergies treatment; - other (19.1%) : mainly manufacturing of food products (seasonings, food additives, etc.). Net sales break down geographically as follows: Japan (64.1%), Oceania (9.6%), America (17.5%) and other (8.8%).

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Brewers

Calendar

2024-06-26 - Ex-dividend day for dividende intermédiaire

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Ratings for Kirin Holdings Company, Limited

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ESG Refinitiv

B+

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Sell

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Mean consensus

HOLD

Number of Analysts

Last Close Price

2,297 JPY

Average target price

2,288 JPY

Spread / Average Target

-0.41%

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Kirin Holdings Company, Limited

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2503

JP3258000003

Brewers

Kirin : Financial Results as of June 30, 2023

EPS Revisions