Beam Suntory reports strong first-half performance driven by premium brands

11 August, 2022

A strong performance in key markets saw Beam Suntory’s net sales increase by 13% year-on-year in the first half of 2022, a 25% increase on the pre-pandemic period in 2019.

The Maker’s Mark, Courvoisier, and Hibiki producer benefited from double-digit sales gains in the US, the UK, Spain, India, Australia, and emerging Asia, with high-single-digit growth in Japan.

Sales grew at more than twice the rate of case volumes, an indication that Beam Suntory’s premiumisation agenda is paying dividends.

“The fact that we were able to deliver these strong results in a challenging period underscores the resilience of our markets, quality of our brands, and the significant impact of our premiumization strategy,” said Albert Baladi, president and chief executive of Beam Suntory.

“We expect that the external environment will be even more challenging in the second half of the year and into 2023, and we are well positioned to deliver against both our short- and long-term ambitions through the strategies we have in place, and investments we’re making in our future.”

The company recently announced a $400 million investment in its Booker Noe distillery in Boston, Kentucky, and through its Proof Positive initiative has pledged more than $1 billion in investments that positively impact the environment. The company will release its first sustainability report later this month.

Beam Suntory has also outlined plans to relocate its global headquarters to New York City in September.

“Beam Suntory is truly coming into its next chapter of growth as a company,” said Baladi. “Our results demonstrate the strength of our operating model, investments in the future, and the unique East-meets-West culture that we have created, which gives us a competitive advantage.” 

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