Ambev
Ambev Accused Of Fraud By CervBrazil
The Brazilian Beer Industry Association (CervBrasil) has accused Ambev of carrying out fiscal maneuvers to avoid paying up to $5.7 billion in taxes. Ambev stock fell sharply after the announcement, despite the company denying the accusations.
Asahi
Asahi Reports Strong 2023 Financial Results
Asahi published its 2022 full year financial results, announcing 8 percent growth in revenue to hit $25.1 billion and 5.9 percent growth in core operating profit. The company attributes these positive growth numbers to the implementation of its premiumization strategy, strong performance of its international markets, and rigorous cost management. Asahi expects cost increases to continue to be affected by inflationary and geopolitical issues in 2023, predicting roughly a 15 percent increase in costs this year. To overcome these pressures, Asahi will focus on driving its premiumization strategy while also looking at strengthening its non-alcohol beverage business locally, such as the launch of a new green tea Sou in Japan.
Brands
Asahi Super Dry Debuts New Packaging For Chinese New Year
Asahi Super Dry launched limited edition Chinese and Japanese inspired packaging for Chinese New Year. Designed in conjunction with the Nippon Design Center, the packaging features a red geometric design that forms an origami rabbit mask. According to Asahi Super Dry Regional Head of Brand Mag Lai, stand-out packaging innovation is crucial to connect with consumers in the APAC region, especially during times of festivity. Consumers are increasingly looking to packaging to learn more about brand story as well as the product’s emotional and functional benefits.
Britvic
Flavored Sparkling Water Gains Traction In UK
Data analytics company Kantar reports that flavored sparkling water is on the rise in the UK. Its value is rising faster than other water types, having grown by 14.8 percent to hit take-home sales of £135 million in 2022. While units shrank by 4.4 percent, Kantar says flavored sparkling is attracting new shoppers who are prepared to pay more for a new healthy and refreshing drink. Branded sales have risen 17.8 percent to £65.2 million on volumes up 12.7 percent; own label flavored sparkling lines grew 12.2 percent to £69.5 milion, units fell by 8.7 percent.
Carlsberg
Carlsberg To Buy India and Nepal Partner’s 33.3% Stake
Carlsberg has announced it will buy Khetan Group’s stake in its India and Nepal joint venture. The buyout would follow a win against Khetan Group in June in an arbitration case in which Khetan had been seeking financial relief related to a long-standing dispute. The tribunal had awarded Carlsberg the right to call Khetan's 33.3 percent shares in the joint venture for $744 million.
Carlsberg Warns Of Lower Beer Sales In 2023
Carlsberg warned shareholders its profit growth in 2023 could drop amidst the slowdown of beer consumption in Europe caused by inflation. The company claims it would have to raise prices by a "high single-digit" percentage this year to cover rising costs. Carlsberg expects organic operating profit in 2023 to change by between minus 5 percent and plus 5 percent, compared with 12 percent growth last year.
Companies
Tango Launches New Flavor In Rotational Flavor Series
Britvic is launching a new Paradise Punch Sugar Free variant in its Tango Editions flavor series. The rotational flavor series was introduced in March 2022 to drive sales and attract younger shoppers. Tango Paradise Punch Sugar Free is available from this month with the launch set to be supported by POS materials and digital communications.
Carlsberg Announces 16.9 percent Revenue Growth In 2022
Carlsberg has announced its full-year results, reporting revenue growth of 16.9 percent and organic operating profit growth of 12.2 percent in 2022. The company credits this growth to its strong performance in Asia and the recovery of the on-trade in Western Europe. Meanwhile, the brewer believes it’s found a buyer for its business in Russia and signed an agreement by June. Carlsberg is seeking an option with the buyer to buy back the Russian business in future.
Varun Beverages Reports Higher Profits Than Expected
Varun Beverages has experienced profits higher than anticipated due to price increases and increased demand for its more expensive beverages. On average, analysts projected a profit of ₹593.40 million in Q4 2023. Profit for the fourth quarter that ended on December 31 more than doubled to ₹747.5 million from a year earlier, according to the company.
Suntory Invests $77 Million In Distillery Upgrades
The Suntory Group Group announced it will invest $77 million over two years in upgrades to its Yamazaki and Hakushu distilleries to further improve the quality of its whisky. Both locations will add space for "floor malting," a traditional process for preparing barley for brewing. At the Hakushu distillery, Suntory will cultivate yeast and update its facilities for visitors. The company plans to reopen both distilleries this fall.
Lotte
Lotte Chilsung shares Q4 2022 Results
Lotte Chilsung announced Q4 2022 sales of W669.0bn (+12 percent year-on-year) and an operating profit of W24.4bn (+29 percent). Operating profit is slightly lower than the market expectation due to expenditure hikes for the company’s new soju Chum-Churum Saero launch. Within the alcoholic beverage division, soju sales rose 26 percent, with Chum-Churum Saero showing rapid monthly sales growth.
Suntory
Jim Beam Launches Kentucky-Inspired RTD Cocktails
Beam Suntory’s Jim Beam brand has launched Kentucky Coolers, a line of ready-to-drink cocktails. The line is inspired by the Kentucky casual and welcoming drinking culture, with the goal to make bourbon more approachable and inviting to a wider variety of consumers. The beverage is described as a middle ground between hard seltzers and more traditional RTDs; it is less sweet than RTDs but with the refreshing taste and low calories of hard seltzer. The line includes Black Cherry Lemonade, Citrus Punch, Strawberry Punch and Sweet Tea Lemonade flavors. Jim Beam Kentucky Coolers rolls out in select markets now and is set to expand nationally next month.
Beam Suntory Reports Strong 2022 Results
Beam Suntory announced 2022 full year results, with net sales up 10.5 percent year on year, representing 24 percent growth versus the pre-pandemic year of 2019. Premium brands grew 15 percent in 2022, and now represent more than half of the company’s Full Bottle Spirits sales for the first time ever. Ready-to-drink brand sales grew 16 percent driven by strong performance in Japan, Australia, and the US.
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