百威亚太(01876) - 2022 - 年度财报

Financial Performance - In 2022, beer sales reached 88.491 million hectoliters, generating revenue of $6.478 billion[11]. - Revenue for fiscal year 2022 was $6,478 million, down 2.4% from $6,788 million in 2021[23]. - Normalized EBITDA for fiscal year 2022 decreased by 5.2% to $1,932 million, compared to $2,139 million in 2021[23]. - The gross profit margin for fiscal year 2022 was 50.0%, a decline of 279 basis points from 53.9% in 2021[23]. - Total sales for the fiscal year 2022 reached 88,491 thousand liters, a 0.7% increase from 87,878 thousand liters in 2021[23]. - Cash flow from operating activities decreased from $1,903 million in fiscal year 2021 to $1,577 million in fiscal year 2022, primarily due to reduced operating cash flow and increased income tax payments[39]. - The company reported a net cash position of $2.5 billion at the end of fiscal year 2022, an increase of $500 million from the previous year[25]. - Investment cash outflow for fiscal year 2022 was $440 million, down from $731 million in fiscal year 2021, mainly due to reduced capital expenditures and lower acquisition costs[40]. Market Performance - BEES platform covers 160 cities in China, contributing over 40% of revenue in December[5]. - Market share in South Korea increased by 150 basis points to pre-pandemic levels[5]. - The Indian market has become the fifth largest for Budweiser globally, with double-digit growth recorded in both India and South Korea[5]. - In China, total sales decreased by 3.0% due to significant impacts from pandemic restrictions, leading to a 44 basis point drop in market share[27]. - In South Korea, total sales achieved high single-digit growth, supported by a 150 basis point increase in market share[25]. - The company expanded its distribution in China from 184 cities in 2021 to 201 cities, with plans to reach over 250 cities by the end of 2025[27]. Sustainability Initiatives - The company achieved a 19.7% reduction in carbon emissions intensity per hectoliter compared to the 2017 baseline[7]. - Water usage in the Asia-Pacific region decreased by 26% compared to the 2017 baseline[7]. - The company aims to achieve net-zero emissions in its value chain by 2040[7]. - Budweiser APAC achieved a 49.6% reduction in carbon emissions intensity per hectoliter compared to the baseline year of 2017[56]. - The company reported a 26% decrease in water usage for beer production in the Asia-Pacific region, achieving 2.2 hectoliters per hectoliter[57]. - The company has deployed 369 green trucks, representing a growth of over 10% compared to 2021, as part of its green logistics strategy[56]. - Budweiser APAC's water replenishment rate in India reached 207%, contributing 16 million hectoliters of water back to surrounding communities[57]. Corporate Governance - The board consists of a balanced mix of executive and non-executive directors, currently comprising seven members[75]. - The company has implemented a "one-tier" management structure, with the board serving as the ultimate decision-making body[68]. - The board is responsible for overseeing compliance with corporate governance codes and monitoring the company's governance practices[69]. - The company emphasizes a culture of mutual respect and trust among board members, encouraging open communication and constructive feedback[67]. - The board has established committees to delegate powers and functions for effective management of daily operations[69]. - The company aims to create and share exceptional value through its strategic principles and community engagement[66]. Diversity and Inclusion - The company employs over 24,000 staff from more than 25 nationalities, with 37.2% being women[11]. - As of December 31, 2022, 42.9% of the board members are women, with three out of seven directors being female[96]. - The company has established a commitment to creating a diverse and inclusive workplace environment[98]. - The board's diversity policy has been revised to enhance gender diversity and ensure independent opinions are provided[95]. - The company has implemented a global succession planning process to develop and prepare key talent for leadership roles[97]. Risk Management - The company emphasizes a robust risk management framework, with board members possessing extensive risk management experience[145]. - The board is responsible for establishing effective internal controls and risk management systems to ensure operational efficiency and compliance[144]. - The company conducts regular reviews of its risk management framework, including quarterly assessments of the general risk environment[140]. - The company has identified key risk areas affecting business operations, including significant environmental, social, and governance risks[154]. - The internal audit team conducts annual risk assessments and develops audit plans based on these evaluations to address major risk areas[151]. Shareholder Engagement - The company encourages shareholder engagement through various communication tools, including annual and interim reports, and dedicated investor sections on its website[165]. - The company organized its first investor day in December 2022, providing shareholders and analysts direct access to management and a tour of its brewery in Seoul[166]. - The company encourages shareholder participation in the annual general meeting and allows for electronic communication to reduce resource consumption[167]. - The company has implemented effective shareholder communication policies following the approval of amendments to its articles of association in May 2022[167]. Financial Governance - The company’s financial performance and position for the reporting period are detailed in the consolidated income statement and financial position statement, respectively[173]. - The company’s compliance procedures ensure adherence to applicable laws and regulations, with no significant non-compliance reported during the period[172]. - The company’s dividend policy aims to declare at least 25% of consolidated profits attributable to equity holders, excluding special items[175]. - The board proposed a dividend of $0.0378 per share for fiscal year 2022, a 25% increase from $0.0302 per share in 2021[25].