Published On 08/29/2013

2012/2013 full-year Sales and Results


Solid performance
in line with guidance

In summary:

In 2012/13, Pernod Ricard delivered a solid performance within, as anticipated, a less favourable environment than in 2011/12:

  • Organic growth in profit from recurring operations was 6%(1), in line with the stated guidance.
  • Emerging markets(2) maintained double-digit growth(1) (+10%) despite a slowdown in the second half of the year, particularly in China. Mature markets were stable(1): strong growth in the US (+8%(1)) and declines(1) in the French and Spanish markets.
  • The Top 14 continued to drive growth(1). With sustained value growth (+5%(1)) these brands grew more quickly than the Group’s average (+4%(1)). This was particularly due to Jameson and Martell’s outstanding performances(1) and to solid growth in white spirits.
  • Premiumisation and innovation remained the Group’s growth drivers, as testified by a still highly favourable price/mix (+5%(1) for the Top 14). Premium(3) brands increased their share of sales from 73% to 75%.
  • The operating margin recorded its best growth in three years (+42 bps(1)) due to the combined effect of continued premiumisation and good control of resources.
  • The considerable decrease of € 635 million in net debt was due to a cash flow generation higher than in the previous year. The net debt / EBITDA ratio fell to 3.5(4) at the end of June 2013.

Reflecting on these results, Pierre Pringuet, Vice Chairman and Chief Executive Officer of Pernod Ricard, commented: “Despite a less buoyant environment than that of last year, we achieved our guidance.” He continued, “Our global and balanced exposure to emerging and mature markets will allow us to seize all opportunities. We therefore remain confident in our ability to pursue our growth.”

  1. Organic growth
  2. List of emerging markets available in appendix
  3. Retail price > USD 17 for spirits and > USD 5 for wine
  4. Margin and debt ratios are based, for the USD, on the average rate for the relevant periods
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About Pernod Ricard

Pernod Ricard is the No.2 worldwide producer of wines and spirits with consolidated sales of €9,182 million in FY19. Created in 1975 by the merger of Ricard and Pernod, the Group has developed through 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 19,000 employees to be true on-the-ground ambassadors of its vision of “Créateurs de Convivialité.” As reaffirmed by the Group’s three-year 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 roadmap supporting the United Nations Sustainable Development Goals (SDGs), “We bring 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 and is ranked No. 1 in the beverage sector in Vigeo Eiris. Pernod Ricard is also a United Nation’s Global Compact LEAD company.
Pernod Ricard is listed on Euronext (Ticker: RI; ISIN Code: FR0000120693) and is part of the CAC 40 index.

Contacts Pernod Ricard

Julia MASSIES VP, Financial Communication & Investor Relations
Tel: +33 (0)1 41 00 41 07

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