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Asahi Group, Net Income Forecast for the Fiscal Year Revised Downward by 6%

Thu Aug 7, 2025 11:30 am JST Earnings

2502 Asahi Group Holdings,Ltd. 【IFRS】

Earnings Report

Asahi Group Holdings,Ltd. <2502> [TSE Prime] announced its financial results (based on IFRS) at noon (11:30) on August 7th. The consolidated net income for the cumulative second quarter of the fiscal year ending December 2025 (January to June) decreased 23.1% from the same period last year to 58.7 billion yen.

In addition, the full-year forecast for consolidated net income has decreased 5.6%, from the previous forecast of 177 billion yen to 167 billion yen (compared to 192 billion yen in the previous period), leading to an increase in the profit decline rate from 7.6% to 12.8%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the July to December period (second half) is expected to decrease 6.0% from the same period last year to 108 billion yen.

In the most recent three-month period, from April to June (2Q), the consolidated net income decreased to 37.2 billion yen, a 29.2% decrease compared to the same period last year. The operating profit margin worsened from 9.4% in the same period last year to 8.0%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Jun, 2023 1,253,000 96,072 92,503 65,798 43.3 38.2 Aug 9, 2023 IFRS
Jan - Jun, 2024 1,378,966 104,100 102,948 76,366 50.2 38.6 Aug 7, 2024 IFRS
Jan - Jun, 2025 1,359,551 92,269 87,421 58,725 39.1 36.1 Aug 7, 2025 IFRS
YoY -1.4% -11.4% -15.1% -23.1% -22.2%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan - Jun, 2025 Guidance ー ー ー ー － 26 Feb 14, 2025 IFRS
Jan - Jun, 2025 Results 1,359,551 92,269 87,421 58,725 39.1 26 Aug 7, 2025 IFRS
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2025 Prev 2,970,000 262,000 251,000 177,500 120.6 52 Feb 14, 2025 IFRS
Dec, 2025 New 2,950,000 255,000 242,000 167,500 113.8 52 Aug 7, 2025 IFRS
Revision Rate -0.7% -2.7% -3.6% -5.6% -5.6%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 1,560,456 164,952 164,042 115,714 76.3 27 Feb 14, 2025 IFRS
Jul - Dec, 2025 Guidance 1,590,449 162,731 154,579 108,775 73.9 26 Aug 7, 2025 IFRS
YoY +1.9% -1.3% -5.8% -6.0% -3.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2023 2,769,091 244,999 241,871 164,073 107.9 40.33 Feb 13, 2024 IFRS
Dec, 2024 2,939,422 269,052 266,990 192,080 126.7 49 Feb 14, 2025 IFRS
Dec, 2025 Guidance 2,950,000 255,000 242,000 167,500 113.8 52 Aug 7, 2025 IFRS
YoY +0.4% -5.2% -9.4% -12.8% -10.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Apr - Jun, 2024 762,352 71,542 71,468 52,536 34.6 9.4 Aug 7, 2024 IFRS
Jul - Sep, 2024 788,986 89,380 87,902 62,952 41.4 11.3 Nov 14, 2024 IFRS
Oct - Dec, 2024 771,470 75,572 76,140 52,762 34.8 9.8 Feb 14, 2025 IFRS
Jan - Mar, 2025 630,423 33,949 31,804 21,520 14.3 5.4 May 12, 2025 IFRS
Apr - Jun, 2025 729,128 58,320 55,617 37,205 24.8 8.0 Aug 7, 2025 IFRS
YoY -4.4% -18.5% -22.2% -29.2% -28.4%

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