Western Europe BusinessWe are Asahi Europe
May 2018

Copyright © ASAHI GROUP HOLDINGS. All rights reserved.

Our Vision

Asahi Europe will become aglobal premium beer powerhouse

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Copyright © ASAHI GROUP HOLDINGS. All rights reserved.

How will we achieve our vision?
どのようにしてビジョンを実現するか？

By leveraging our strengths
and existing success models
自らの強みとこれまでの成功モデルを活かす+
applying a challenger mindset
to everything we do
あらゆることに対しチャレンジャーマインドセットを発揮する

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How will we deliver our growth plans?
どのようにして成長を実現させるか？

Growth EnginesRockets• Full potential mindset and• Focus on global cities with highstrategies

premium consumption

マインドセットと戦略の潜在能力を最大化

プレミアム商品の消費力がある世界的都市へ注力• Opportunity-led portfolios andunified brand platforms

市場の機会に対応したポートフォリオと統一された
ブランドプラットフォーム• Flawless and disciplined• Global brand-led portfolios andunified brand platforms

グローバルブランドを中心としたポートフォリオと統一された
ブランドプラットフォーム• Influence on the “last mile” throughexecution

bespoke routes-to-market

完璧に鍛え上げられた実行力

自ら構築した市場ルートを通じた“ラスト・マイル”への影響力• Centers of excellence focused• Adopters of “best practice” in coreon our core capabilities

capabilities

コア能力にフォーカスした優れた知見“ベスト・プラクティス”の水平展開

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Org chart4
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What will be our competitive advantages?
我々の競争優位性は？

People 人材
Capable and committed individuals who balance
strategy and execution
戦略策定と戦略遂行力のバランスがあり、能力が高く、コミットした人材

Brand Portfolio ブランドポートフォリオ
A differentiated, world-class brand portfolio
差別化された世界レベルのブランドポートフォリオ

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Presentation format

Copyright © ASAHI GROUP HOLDINGS. All rights reserved.

What will be our competitive advantages?
我々の競争優位性は？
People 人材
Capable and committed individuals who balance
strategy and execution
戦略策定と戦略遂行力のバランスがあり、能力が高く、コミットした人材

Brand Portfolio ブランドポートフォリオ
A differentiated, world-class brand portfolio
差別化された世界レベルのブランドポートフォリオ

Insights インサイト
Great insights translated into ideas that inspire
customers
顧客を感動させるアイデアにつながる優れた見識

Flawless Execution 完璧な実行力
Winning ideas executed with precision and speed
正確さと迅速さを伴って実行される優れたアイデア

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How will we unleash our Challenger Mindset?
どのようにして我々のチャレンジャーマインドセットを発揮するのか？

• Setting aspirational objectives
チームとして目指せるレベルの高い目標を設定する• Owning the performance
実行への責任を持つ• Focusing on what really matters
本当に重要なことへ注力する

8Copyright © ASAHI GROUP HOLDINGS. All rights reserved.

Growth Engines※Growth Enginesは、イタリア、オランダ、イギリスの3ヵ国

Driving strong and sustainable performance:
強力で持続的な成果を生みだしていく• Drive top-line growth
売上成長を目指す• Capture new opportunities through innovation
イノベーションを通じて新たな機会を捉える• Optimize fixed costs
固定費を最適化する• Enhance capabilities
能力を向上させる

9Copyright © ASAHI GROUP HOLDINGS. All rights reserved.

Positioning “Rockets”※Rocketsは、イタリア、オランダ、イギリス以外の国・エリア

For disproportional long-term success:
長期的な桁外れの成長基盤の実現に向けて• Repatriate markets
自社販売網の再構築• Build partnerships
パートナーシップを構築する• Sell a portfolio
ポートフォリオを活用する• Develop capabilities
能力を開発する

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Market overview – United Kingdom

ＣＡＧＲ（2012-2017）2017 Total 4,458 ‘000KL
Asahi Total Market Share 4％-0.2％

Super Premium

+8.6％

19％
Premium
26％

Mainstream

+0.8％

-2.6％

53％

Discount2％

-7.7％

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Market overview - Italy

ＣＡＧＲ（2012-2017）2017 Total 1,780 ‘000KL
Asahi Total Market Share 19%

Super Premium
26％
Premium
24％

+1.1％

+3.8％

-2.1％

Mainstream
37％

Discount

+2.8％

-1.6％

13％

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Market overview - Netherlands

2017 Total 1,222 ‘000KL

Asahi Total Market Share 14%

Super Premium

ＣＡＧＲ（2012-2017）

+0.1％
+4.7％

6％
Premium

+2.9％

19％

Mainstream

-0.2％

54％

Discount

-2.6％

21％

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Financials

Guidelines for the next 3+ years
3年程度先を見据えたガイドライン

Revenue：Average annual growth rate in the high single digits
売上収益：1桁台後半の年平均成長率

Core operating profit：Average annual growth of +/- 10%
事業利益：10％前後の年平均成長率

2017 Results and 2018 Forecast(excluding foreign exchange impacts associated with conversion of local currencies into Euro)
2017
2018
Againstkhl million Euro
YoY*2
Target*3
Results
Forecast
20172018
Againstkhl million Euro
YoY*2
Results
Forecast
Sales Volume
8,786
7% Target*36%
9,119

YoY*4
YoY*44%SalesVolume
Net Sales(exl. Alcohol tax)

8,786
859

7%9%6%5%

9,119905

4%7%

NetCoreSales
OP*1(exl. Alcohol tax)

859
154

9%13%5%3%

905
167

7%
10%

Core OP*1

Once off cost154
-1413%
363%-1

167
-1

10%
14

*1 Core OP before reduction of one-off cost

Once off cost

-14 *2 Comparison
36in FX rate of 2016.
-1 2016 result is estimated-1
14
number due to before acquisition*3 Comparison in target FX rate
*1 Core OP before reduction of one-off cost

*4 Comparison in FX rate of 2017
*2 Comparison in FX rate of 2016. 2016 result is estimated number due to before acquisition*3 Comparison in target FX rate

*4 Comparison in FX rate of 201714
Copyright © ASAHI GROUP HOLDINGS. All rights reserved.

We are Asahi Europe… and the future is ours!
Copyright © ASAHI GROUP HOLDINGS. All rights reserved.

Information in this material is not intended to solicit sale or purchase of shares in Asahi Group Holdings.
The views, estimates and other information expressed in this document are based on the company's judgment at the time ofpublication, and no guarantees are provided regarding the accuracy of such information. This information is subject to change
without notice.
The company and its officers and representatives accept no responsibility or liability for any damage or inconvenience that may
be caused by or in conjunction with any part of these materials.