Press releases
03/11/2004 : Acceleration of organic Wine & Spirits sales growth in 3rd quarter: + 7.2%, 9-month organic sales growth: + 6.4%
Paris, France - 3 November, 2004
Pernod Ricard Wine and Spirits sales
Pernod Ricard reported 2004 9-month cumulative sales (excluding duties and taxes) of € 2,375 million for its Wine and Spirits business, up 6.4% over the same period last year on a constant exchange rates and group structure basis. The Group reported negative exchange rate effects of € 73 million (-3.2%), and a negative perimeter impact of € 13 million (-0.6%) following the disposal of “Crus et Domaines de France” and local brands in The Netherlands.
The Wine and Spirits business posted accelerated sales growth of 7.2% in the 3rd quarter, thanks notably to dynamic growth in Asia.
This good performance reflects the dynamism of our premium brands on the first nine months: Chivas Regal (+14%), Martell (+10%), Jameson (+11%) and Royal Salute (+19%). The Group’s 12 key brands enjoyed an overall sales volume increase of 3% and an overall sales value increase of 8%.
Analysis of Wine and Spirits sales performance by region
Asia & Rest of World region recorded a spectacular increase in 3rd quarter sales, up 24% on the quarter and 17% for the 9-month period ending 30 September, in particular driven by:
- the exceptional growth of Royal Salute, Chivas Regal and Martell Cordon Bleu in China, Hong Kong, Taiwan, Singapore, Malaysia,
- the remarkable progression of Duty-Free (+ 43%),
- the continued dynamism of the local brands 100 Pipers (Thailand) and Royal Stag (India).
Americas region recorded 6% organic sales growth for the first 9 months of 2004.
- The positive depletion trends in the North-American market continued, but shipment timing slightly hurts sales.
- The economic recovery in Latin America is reflected in a strong development by Chivas Regal over the whole of this region and by brisk growth of the Brazilian market.
Europe (excluding France) region recorded sound organic growth for the second consecutive quarter, reflected in a 2004 9-month sales increase of 3.6%, due mainly to good performances in the United Kingdom, Germany and Greece. In addition, Central and Eastern Europe are becoming a significant growing markets.
France, as previously announced, experienced a contrasting situation, with increases in whisky and vodka sales offset by adverse aniseed sales, resulting in a 9-month overall sales increase of 0.3%.
Pernod Ricard consolidated sales
2004 9-month consolidated sales increased to € 2,441 million from € 2,409 million for the same period last year. Non-Wine and Spirits business sales accounted for only 2.7% of Pernod Ricard sales, and this percentage will further decline following the definitive disengagement from Orangina announced on 2 November.
2004 full year outlook
Commenting on the publication of these figures, Patrick Ricard stated: “I am very pleased with the excellent performance achieved in the 3rd quarter. This will enable us to confirm our Wine and Spirits operating profit organic growth (1) objective of between 8% and 10% for 2004”.
(1) Organic growth: growth on a like-for-like basis
To access the appendices, click here (pdf)
Shareholders’ agenda
Thursday 3 February 2005: Publication of 2004-2005 financial year first 12 months sales
For more information, please contact:
Francisco de la VEGA, Communications VP, Tel: +33 (0)1 41 00 40 96
Patrick de BORREDON, Investor Relations VP, Tel: +33 (0)1 41 00 41 71
Florence TARON, Press Relations Manager, Tel: +33 (0)1 41 00 40 88
