On 23 August 2021, the US Court of Appeals for the Federal Circuit rendered their decision in favour of the National Association of Manufacturers. As a result, Pernod Ricard can claim drawback upon eligible spirits exported from the USA(1).
For Pernod Ricard, the impact of this decision for FY21 represents an additional profit before tax of US$163m, of which US$33m of Profit from Recurring Operations, equivalent to an additional c.1% of organic growth(2).
1 Under US law, a company can claim drawback i.e. a refund of the duties or taxes that were paid on certain goods upon their importation when similar goods are exported
2 Not included in Company guidance communicated to market on 23 June 2021
On the same topic
Invitation - Third Quarter FY22 Sales
Thursday 28 April 2022
Hélène de Tissot, Group Finance, IT & Operations Director, and Florence Tresarrieu, Global SVP Investor Relations & Treasury, will present Pernod Ricard’s third quarter FY22 Sales during a webcast to be held on Thursday 28th April at 9:00am (Paris time).
Invitation - North America Webcast
Tuesday 10th May 2022 3:00pm (Paris time)
Ann Mukherjee, Chairwoman and Chief Executive Officer of Pernod Ricard North America and Edward Mayle, Director of Investor Relations, have the pleasure to invite you to a Q&A session on the Pernod Ricard North America business.
The event will be held on Tuesday 10th May at 3:00pm (Paris time). A webcast (filmed presentation) will be available on our website in the morning at 7:30am (Paris time).
Pernod Ricard launches the second edition of its global employee share ownership plan
80% of the Group's employees are now eligible and thus closely associated with Pernod Ricard's growth
About pernod ricard
Pernod Ricard is the world’s No 2 in wines and spirits with consolidated sales of €8,824 million in FY 2021. Created in 1975 by the merger of Ricard and Pernod, the Group has undergone sustained development, based on both organic growth and acquisitions: Seagram (2001), Allied Domecq (2005) and Vin&Sprit (2008).
Pernod Ricard, which owns 16 of the Top 100 Spirits Brands, holds one of the most prestigious and comprehensive brand portfolios in the industry, including: Absolut Vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute, and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur, Mumm and Perrier-Jouët champagnes, as well Jacob’s Creek, Brancott Estate, Campo Viejo, and Kenwood wines.
Pernod Ricard’s brands are distributed across 160+ markets and by its own salesforce in 73 markets. The Group’s decentralised organisation empowers its 18,500 employees to be true on-the-ground ambassadors of its vision of “Créateurs de Convivialité.” As reaffirmed by the Group’s strategic plan, “Transform and Accelerate,” deployed in 2018, Pernod Ricard’s strategy focuses on investing in long-term, profitable growth for all stakeholders.
The Group remains true to its three founding values: entrepreneurial spirit, mutual trust, and a strong sense of ethics, as illustrated by the 2030 Sustainability and Responsibility roadmap supporting the United Nations Sustainable Development Goals (SDGs), “Good times from a good place.” In recognition of Pernod Ricard’s strong commitment to sustainable development and responsible consumption, it has received a Gold rating from Ecovadis. Pernod Ricard is also a United Nations’ Global Compact LEAD company. Pernod Ricard is listed on Euronext (Ticker: RI; ISIN Code: FR0000120693) and is part of the CAC 40 and Eurostoxx 50 indices.