An impressive 2022 for Beam Suntory

Beam Suntory, a world leader in premium spirits, has announced 2022 full year results, where it shows that its net sales increased during 2022 by 10.5 percent year on year, representing 24 percent growth versus the pre-pandemic year of 2019.

Premium brands of Beam Suntory grew by 15 percent during 2022, and now represent more than half of the company’s Full Bottle Spirits sales for the first time ever. Beam Suntory’s Ready-to Drink (RTD) brand sales grew by 16 percent in the last year, driven by performance in Japan, Australia and the US.

During 2022, sales of Jim Beam grew at a single digit rate, of Maker’s Mark grew by 11 percent and of Basil Hayden surged by 40 percent. Furthermore, Roku, Hibiki, Yamazaki, Bowmore, Knob Creek, Tres Generaciones and Hornitos all delivered impressive double-digit sales gains during 2022, as compared to that of 2021.

The company’s North America sales were up by 8 percent in 2022 as compared to that of 2021 despite softening market conditions in the US, where the company gained share in the Premium+ segment. Canada and Mexico delivered double-digit growth.

Beam Suntory’s Asia sales during 2022 increased by 13 percent as compared to that of 2021, buoyed by on-premise recovery, focus on premium brands, and successful Highball programs across key markets. Beam Suntory’s international sales grew by 10 percent during 2022 despite the impact of the company’s exit from Russia. Spain, Oceania, India and Global Travel Retail were exceptional standouts with very strong double-digit growth.

In 2022, the company reported record high capital expenditures geared toward expanding capacity, quality improvements, and sustainability. During the year, the company announced several investments, including $400 million in its Booker Noe distillery to increase global production capacity for Jim Beam while at the same time reducing carbon emissions by 50 percent.