Very dynamic Q1 at +20%, on low comparison basis, with strong demand in most markets Q1 reported growth +22%

Press Release 20/10/2021

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.

 

Tags

Press release

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).

    Read more
  • 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).

    Read more
  • 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

    Read more

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.

Contacts Pernod Ricard

Florence Tresarrieu
Global SVP Investors Relations and Treasury
Tel: +33 (0) 1 70 93 17 03
Charly Montet
Investor Relations Manager
Tel: +33 (0) 1 70 93 17 13
Emmanuel Vouin
Head of External Engagement
Tel: +33 (0) 1 70 93 16 34