Suntory Beverage & Food : Supplementary Information for FY 2021

Supplementary Material on Consolidated Financial Results

for the Fiscal Year Ended December 31, 2021

1. Summary of Consolidated Statement of Profit or Loss, Indices, etc.
2. Revenue Details
3. Profit Details
4. Summary of Consolidated Statement of Financial Position
5. Summary of Consolidated Statement of Cash Flows
6. Other Information

1. Summary of Consolidated Statement of Profit or Loss, Indices, etc.
2. Revenue Details
3. Profit Details
4. Other Information

Suntory Beverage & Food Limited

February 14, 2022

1. Summary of Consolidated Statement of Profit or Loss, Indices, etc.

(1) Summary of Consolidated Statement of Profit or Loss

						(Billions of yen with fractional amounts rounded off)
	Year ended		Year ended
	December 31, 2020		December 31, 2021	Increase (decrease)
		Ratio to revenue			Ratio to revenue
Revenue	1,178.1		100.0%	1,268.9		100.0%	90.8	7.7%
Gross profit	483.9		41.1%	523.2		41.2%	39.3	8.1%
Selling, general and administrative	382.3		32.5%	397.7		31.3%	15.4	4.0%
expenses
Gain on investments accounted for	(0.1)		(0.0)%	0.1		0.0%	0.2	-
using the equity method
Other income	3.3		0.3%	2.9		0.2%	(0.5)	(13.6)%
Other expenses	8.6		0.7%	9.9		0.8%	1.3	14.7%
Operating income	96.2		8.2%	118.6		9.3%	22.4	23.3%
Finance income	0.9		0.1%	0.5		0.0%	(0.4)	(41.0)%
Finance costs	2.9		0.2%	2.0		0.2%	(0.8)	(29.5)%
Profit before tax	94.2		8.0%	117.1		9.2%	22.9	24.3%
Income tax expense	29.9		2.5%	34.0		2.7%	4.2	13.9%
Profit for the year	64.3		5.5%	83.0		6.5%	18.7	29.1%
Profit for the year attributable to non-	12.1		1.0%	14.4		1.1%	2.3	18.8%
controlling interests
Profit for the year attributable to	52.2		4.4%	68.7		5.4%	16.5	31.5%
owners of the Company

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(2) Other Indices

									(Billions of yen)
		Year ended		Year ended		Increase (decrease)
		December 31, 2020	December 31, 2021
Depreciation				70.7			69.4	(1.3)	(1.8)%
Operating income				96.2			118.6	22.4	23.3%
Profit for the year attributable to			52.2			68.7	16.5	31.5%
owners of the Company
EBITDA *1	EBITDA margin	172.1		14.6%	194.9		15.4%	22.8	13.3%
*1 EBITDA is calculated as operating income - other income + other expenses + depreciation.
EPS (Yen)				168.97			222.25	53.28	31.5%
Operating margin				8.2%			9.3%
ROE				6.8%			8.4%
Dividend payout ratio *2			46.2%			35.1%

*2 Dividend payout ratio for each year is calculated by dividing, for each year, total cash dividends by profit attributable to owners of the Company. (Billions of yen)

	As at December 31, 2020	As at December 31, 2021	Increase (decrease)
Total assets	1,574.3	1,676.9	102.6		6.5%
Total equity	859.6	944.0	84.4		9.8%
Capital expenditures	68.8	77.1	8.3		12.1%
D/E ratio (Times) *3	0.10	0.04

*3 D/E ratio is calculated as (interest-bearing debt - cash and deposits ± valuation difference from adopting hedge accounting, etc.) / total equity.

(3) Exchange Rates for the Consolidation of Profit or Loss of the Major Overseas Companies

		(Yen, average exchange rate)
	Year ended	Year ended
	December 31, 2020	December 31, 2021
USD	106.8	109.9
EUR	121.9	129.9
GBP	137.0	151.2
SGD	77.4	81.8
THB	3.4	3.4
VND	0.0046	0.0048
NZD	69.4	77.7
AUD	73.7	82.5

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2. Revenue Details

			(Billions of yen with fractional amounts rounded off)
	Year ended	Year ended			Increase
	Increase (decrease)	(decrease)	Reference
	December 31, 2020	December 31, 2021			currency
					neutral
Japan	633.0	629.6	(3.4)	(0.5)%	-
Asia Pacific	265.0	295.9	30.9	11.7%	6.8%	*
Europe	190.0	234.9	44.9	23.6%	14.9%
Americas	90.1	108.5	18.3	20.3%	16.9%
Reconciliations	-	-	-	-	-
Consolidation total	1,178.1	1,268.9	90.8	7.7%	5.1%

• Due to the organizational changes, the previous segments of "Asia" and "Oceania" were merged and are now presented as "Asia Pacific."

3. Profit Details

(1) EBITDA

					(Billions of yen)
					Increase
	Year ended	Year ended	Increase (decrease)	(decrease)	Reference
	December 31, 2020	December 31, 2021			currency
					neutral
Japan	76.4	77.6	1.2	1.6%	-
Asia Pacific	51.2	56.0	4.7	9.3%	6.7%	*1
Europe	39.4	51.7	12.3	31.2%	21.6%
Americas	13.2	17.7	4.5	33.9%	30.0%
Reconciliations	(8.2)	(8.1)	0.1	-	-	*2
Consolidation total	172.1	194.9	22.8	13.3%	10.2%

*1 Due to the organizational changes, the previous segments of "Asia" and "Oceania" were merged and are now presented as "Asia Pacific."

*2 "Reconciliations" to segment EBITDA represents overhead costs incurred by the Company to manage the Group's operations and is not allocated to each reportable segment.

(2) Segment Profit

					(Billions of yen)
					Increase
	Year ended	Year ended	Increase (decrease)	(decrease)	Reference
	December 31, 2020	December 31, 2021			currency
					neutral
Japan	37.0	40.9	4.0	10.7%	-
Asia Pacific	34.4	39.7	5.4	15.7%	11.6%	*1
Europe	27.2	35.7	8.5	31.2%	21.3%
Americas	9.1	13.3	4.2	46.5%	42.3%
Reconciliations	(11.5)	(11.2)	0.3	-	-	*2
Consolidation total	96.2	118.6	22.4	23.3%	18.9%

*1 Due to the organizational changes, the previous segments of "Asia" and "Oceania" were merged and are now presented as "Asia Pacific."

*2 "Reconciliations" to segment profit represents overhead costs incurred by the Company to manage the Group's operations and is not allocated to each reportable segment.

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(3) Breakdown of Increase (Decrease) in Segment Profit for Japan Business Segment

	(Billions of yen)
Segment profit for the year ended December 31, 2020	37.0
Decrease in revenue	(3.4)
Decrease in cost of goods sold	0.7
Decrease in sales promotion and advertising costs	2.4
Decrease in other expenses	4.2
Segment profit for the year ended December 31, 2021	40.9

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