2011/2012 full-year Sales and Results
Pernod Ricard reports
its best growth since 2007/08
In 2011/12, Pernod Ricard achieved its best growth since 2007/08, exceeding the financial targets that had been announced.
- accelerated sales growth to +8%(1)
- growth(1) in profit from recurring operations of +9% compared to a target of “close to +8%(1)”
- significant improvement in operating margin rate (+75 bps)
- completion of debt refinancing and accelerated debt reduction with a net debt to EBITDA ratio(2) of 3.8 at 30 June 2012 compared to a guidance of “close to 3.9”
- proposed dividend of €1.58 per share, an increase of +10%
Pierre Pringuet, Chief Executive Officer of the Group, commented:
"Throughout the 2011/12 financial year, the Group recognised its best growth rates since the 2008 crisis, be it for the top or bottom line. This is the result of a clear and constant strategy: substantial investments in our brands, innovation, premiumisation and geographic expansion. This performance also derives from a unique, decentralised organisation founded upon the motivation and the accountability of men and women, that Patrick Ricard bestowed upon us." He also added : "Despite the economic uncertainty, we are confident in the Group's ability to deliver solid growth this year as well."
In line with its standard practice, Pernod Ricard will communicate its earnings targets for the current financial year as part of its communication on 1st quarter 2012/13 sales on 25 October 2012.