Published On 09/26/2018

APPLICATION OF IFRS 15 NORM

REVENUE FROM CONTRACTS WITH CUSTOMERS

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The Group is applying the full retrospective approach as of 1 July 2018 in transitioning to the new standard.

As noted in the Half-year financial report at 31 December 2017, there is no expected impact on Profit from Recurring Operations (PRO) or on revenue recognition standards, based on preliminary analysis.

Two mains topics have been identified with the following impacts:

•    services paid to direct or indirect customers on visibility or promotional arrangements: reclassification from Advertising and Promotion expenses to a decrease in Net Sales;

•    third party manufacturing in India: increase in Net Sales and Cost of Goods following the analysis of agent vs principal considerations.

The non-audited retrospective application on comparative year FY18 can be found below and will also be available on our website: www.pernod-ricard.com 

 

Sales Analysis by Region, pre- and post- IFRS 15 restatement

 

Profit from Recurring Operations by Region, pre- and post-IFRS 15 restatement

 

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About Pernod Ricard

Pernod Ricard is the world’s n°2 in wines and spirits with consolidated Sales of € 8, 987 million in FY18. 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 holds one of the most prestigious brand portfolios in the sector: 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 employs a workforce of approximately 18,900 people and operates through a decentralised organisation, with 6 “Brand Companies” and 86 “Market Companies” established in each key market. Pernod Ricard is strongly committed to a sustainable development policy and encourages responsible consumption. Pernod Ricard’s strategy and ambition are based on 3 key values that guide its expansion: entrepreneurial spirit, mutual trust and a strong sense of ethics.  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

Adam RAMJEAN Investor Relations Manager Tel: +33 (0)1 41 00 41 59

Fabrien Darrigues External Communications Director Tel: +33 (0)1 41 00 44 86

Alison DONOHOE Press Relations Manager Tel: +33 (0)1 41 00 44 63

Emmanuel VOUIN Press Relations Manager Tel: +33 (0)1 41 00 44 04