Sales for the first quarter of FY22 totalled € 2,718 million, with an organic growth of +20%:
- Very dynamic start in all regions, with robust demand and strong shipments ahead of festive season
- Off-trade remaining resilient and markets supported by On-trade reopening
- Travel Retail still very subdued but benefitting from low basis of comparison.
By category, Sales were driven by:
- Strategic International Brands: +24%, with broad-based growth, in particular for Martell, Jameson, Ballantine’s, Chivas Regal and Absolut. Positive price/mix
- Strategic Local Brands: +15%, driven by strong double-digit growth of Seagram’s Indian whiskies
- Specialty Brands: +21%, thanks in particular to Malfy, Avion, Del Maguey, Aberlour, Monkey 47, US whiskeys and Lillet
- Strategic Wines: -7% (vs. +9% in Q1 FY21) due in particular to New Zealand supply constraints.
Reported Sales growth was +22%, with an overall favourable FX impact, mainly from Chinese yuan.
As part of this communication, Alexandre Ricard, Chairman and Chief Executive Officer, stated,
“We have had a very dynamic start to the year, as expected, with strong demand in most markets. The Off-trade remains resilient and I am particularly pleased to note the continued recovery of the On-trade.
We expect good sales growth to continue through FY22, albeit moderating vs. Q1. We will continue to implement our strategy, notably accelerating our digital transformation and reinvesting to seize present and future growth opportunities"
All growth data specified in this press release refers to organic growth (at constant FX and Group structure), unless otherwise stated. Data may be subject to rounding.
A detailed presentation of Q1 FY22 Sales can be downloaded from our website: www.pernod-ricard.com
Definitions and reconciliation of non-IFRS measures to IFRS measures
Pernod Ricard’s management process is based on the following non-IFRS measures which are chosen for planning and reporting. The Group’s management believes these measures provide valuable additional information for users of the financial statements in understanding the Group’s performance. These non-IFRS measures should be considered as complementary to the comparable IFRS measures and reported movements therein.
Organic growth
Organic growth is calculated after excluding the impacts of exchange rate movements and acquisitions and disposals. Exchange rates impact is calculated by translating the current year results at the prior year’s exchange rates. For acquisitions in the current year, the post-acquisition results are excluded from the organic movement calculations. For acquisitions in the prior year, post-acquisition results are included in the prior year but are included in the organic movement calculation from the anniversary of the acquisition date in the current year. Where a business, brand, brand distribution right or agency agreement was disposed of, or terminated, in the prior year, the Group, in the organic movement calculations, excludes the results for that business from the prior year. For disposals or terminations in the current year, the Group excludes the results for that business from the prior year from the date of the disposal or termination. This measure enables to focus on the performance of the business which is common to both years and which represents those measures that local managers are most directly able to influence.
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Thursday 27 April 2023
Hélène de Tissot, Group Finance, IT & Operations Director, and Florence Tresarrieu, Global SVP Investor Relations & Treasury, will present Pernod Ricard’s third quarter FY23 Sales during a webcast to be held on Thursday 27th April at 9:00am (CEST).
About pernod ricard
Pernod Ricard is the No.2 worldwide producer of wines and spirits with consolidated sales amounting to €10,701 million in fiscal year FY22. The Group, which owns 17 of the Top 100 Spirits Brands, holds one of the most prestigious and comprehensive portfolios in the industry with over 240 premium brands distributed across more than 160 markets. Pernod Ricard’s portfolio includes 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 or Mumm and Perrier-Jouët champagnes. The Group’s mission is to unlock the magic of human connections by bringing “Good Times from a Good Place”, in line with its Sustainability and Responsibility roadmap. Pernod Ricard’s decentralised organisation empowers its 19,480 employees to be on-the-ground ambassadors of its purposeful and inclusive culture of conviviality, bringing people together in meaningful, sustainable and responsible ways to create value over the long term. Executing its strategic plan, Transform & Accelerate, Pernod Ricard now relies on its “Conviviality Platform”, a new growth model based on data and artificial intelligence to meet the ever-changing demand of consumers. Pernod Ricard is listed on Euronext (Ticker: RI; ISIN Code:FR0000120693) and is part of the CAC 40 and Eurostoxx 50 indices.