Asahi pledges premiumisation priority despite ‘challenging environment’

Asahi published its FY2022 full year financial results earlier this month, announcing an overall 8% growth in revenue to hit JPY2.51tn (US$25.1bn) and 5.9% growth in profits to hit JPY243.8bn (US$2.44bn) despite the firm’s earlier worries during its H1FY2022 financial results​ announcement regarding cost pressures.

These positive growth numbers were attributed by the firm to the implementation of its premiumisation strategy and performance of its international markets, further strengthening its resolve to continue along the premium path.

“We have delivered a strong performance in 2022 through flexible pricing strategies, rigorous cost management, and promotion of our ‘premium strategy’ despite a challenging business environment,”​ Asahi President and CEO Atsushi Katsuki said via a formal statement announcing the full year results.

“All the regions that we do business in [from Japan to Europe to Oceania to South East Asia] achieved year-on-year sales growth through implementation of the premium strategy [in addition] to the recovery of our on-premise channels with the easing of COVID-19 restrictions.

“In particular, our five global brands, represented by Asahi Super Dry and Peroni Nastro Azzurro, are steadily keeping the growth trajectory and driving our topline with a total sales volume growth of 8% outside their respective home markets.

“Therefore although we expect the current uncertainty in the operating environment to persist, there is no change in our commitment to pursue bold strategic investments [and] stay the course on premiumisation for sustainable growth despite continuation of [these] significant cost increases.”


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