Asahi
Asahi Group Posts Strong Q1 2023 Results
Asahi Group’s CEO ascribed its Q1 2023 performance to price revisions and cost management, explaining the 7.9 percent revenue growth and 24.3 percent hike in core operating profit. Each unit posted revenue growth, even in its domestic market, which saw the first improvement since COVID-19 restrictions were lifted. Demand was also solid in Europe and Oceania, especially for premium brands like Asahi Super Dry and Peroni Nastro Azzurro. The Asahi Super Dry 0.0% launch also contributed.
Britvic
Britvic Posts 10% Revenue Growth In First Half Of 2023
Britvic PLC’s first half results for 2023, to end-March 2023, included a 10.4 percent revenue growth (7.9 percent adjusted for exchange rates) and 21.2 percent improvement in adjusted profit after tax. CEO Simon Litherland highlighted a focus on lower calorie, healthier drinks, driving performances for Pepsi MAX and Tango in Great Britain, Ballygowan 'Hint of Fruit' in Ireland. He said the worst of the inflationary environment had been “successfully mitigated” and pointed to “exciting marketing and innovation campaigns” in Summer 2023, including a Pepsi Max partnership for the UEFA Champions League final. The company also announced a £75 million share buyback over the coming 12 months.
Companies
Convenience Stores Showing Strong Potential For Soft Drink Sales, Says Britvic
The 2023 Britvic Soft Drinks Review says c-stores can generate an additional £8,400 per store by exploiting market opportunities. Energy drinks stood out last year with 28 percent of soft drinks’ growth, leading cola and plain water. Ben Parker, Britvic’s GB retail commercial director at Britvic, said soft drinks were in 22 percent of c-store baskets last year, even as impulse categories saw sales declines. Limited-edition flavors are also catching consumers’ attention in impulse sales. As on-the-go sales recover from the pandemic, formats are evolving too, with single serve sales outperforming take-home across all channels. Another trend is pairing carbonates and juice drinks with food in meal deals. The report also highlighted the contribution from delivery for retailers, which accounts for almost 7 percent of convenience occasions.
London Fields Leaves The Carlsberg Stable, Heads To North London
Carlsberg Marstons Brewing Company has sold London Fields Brewery to Grace Land Group for an undisclosed sum. Grace Land Group owns six pubs in north London, and it will relaunch the brewery under the name “Saint Monday”. London Fields Brewery was founded over a decade ago and acquired by Carlsberg in 2017.
No-Alcohol Asahi Super Dry Launches In Australia
Asahi’s no-alcohol version of Japan’s top-selling beer has launched in Australia. Asahi Super Dry 0.0% was introduced in the market with an above the line campaign on TV, video on demand, out of home, digital and social channels. Kym Bonollo, Asahi Beverages Head of International & Craft, said Asahi was responding to growing demand for alcohol-free alternatives for adult beverages that don’t compromise on quality or taste. It’s being sold nationally in liquor stores and on-premise venues, and cans be bought at Dan Murphy’s and BWS.
Innovations
Asahi Trials New CO2-Absorbing Vending Machines For Soft Drinks In Japan
Asahi Soft Drinks has launched a trial of vending machines in the Japanese market that can absorb CO2 from the atmosphere. The CO2 collected will be used for industrial raw material for items such as fertilizers and concrete. The trial starts within around 30 units in the Kanto and Kansai regions, and Asahi is planning for full operation in a couple of years’ time. Each machine can offset some 20 percent of the CO2 emissions from the production of the electricity needed to run them, but it wants to develop carbon-neutral machines.
Lotte
Analyst Comments On Lotte Chilsung’s Q1 2023 Results
Younghoon Joo, an analyst from NH Investment & Securities, said marketing expenses contributed to Lotte Chilsung missing its Q1 2023 consensus estimates but that there were positive signs from a steady increase in sales volume. Its soju market share exceeded 20 percent and it remains focused on soju marketing in the first half of the year. The analysts also pointed to the potential consolidation of the Philippine subsidiary as positive. Q1 2023 sales were up 9 percent on Q1 2022, but operating profit was down 1 percent. Beverage sales were up 9 percent, driven partly by zero-calorie beverages, and liquor 7 percent.
RJ Corp
Varun Beverages Sees Massive Jump In Quarterly Profits
India-based Pepsi bottler Varun Beverages posted a near 70 percent rise in quarterly profits, driven by price increases and steady demand. Varun Beverages is PepsiCo's second-largest franchisee outside the US. Consolidated revenue from operations rose almost 38 percent, boosted by demand for cold drinks as temperatures in India soared and out-of-home sales continue to recover after the pandemic. Sales growth was strong across all regions, but rural growth was stronger than in urban areas. The company also briefly became India’s fourth largest FMCG company by market capitalization.
Suntory
V Tropical Tang, The Latest Addition To Frucor Suntory’s V Energy Portfolio
Frucor Suntory’s V Energy brand introduced V Tropical Tang, a tropical infused energy drink it hopes will inspire freedom and fun. Josh Wheeler, Oceania Head of Energy and Transformation at Frucor Suntory, says the new product was developed to bring excitement for energy drink fans through a new flavor profile. It’s been available in New Zealand since May 1, in a 500ml can, and in Australia from mid-May in single can or 4-pack, supported by a strategic out-of-home and social campaign. It’s the first V Energy full sugar product launched since 2020.
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