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23.04.2015 07:30:00

Pernod Ricard : Solid YTD Sales: +2% Organically, +6% Reported

Regulatory News:

Press release - Paris, 23 April 2015 - Sales for the first 9 months of 2014/15 totalled € 6,542 million. Pernod Ricard (Paris:RI) posted organic growth of +2%, confirming the gradual improvement in Sales, in line with the objectives outlined in October 2014. Reported growth was +6% due to a very favourable foreign exchange impact.

Regionally, this was driven by:

  • Confirmed improvement in Asia-Rest of the World (+4%), after a stable Chinese New Year for Pernod Ricard in China
  • Improving performance in Q3 in the Americas (+3%)
  • Overall stability in Europe (0%)

The Top 14 (+2%) confirmed their return to growth, while Priority Premium Wines were stable (0%) and the Key Local Brands (+5%) reported dynamic growth driven by Indian whiskies.

Sales for the third quarter of 2014/15 totalled € 1,921 million, including organic growth of +7% (+3% restated for the later Chinese New Year) and a significant positive FX impact (+12%.) Growth was in part favoured by the comparative basis.

As part of this communication, Alexandre Ricard, Chairman and Chief Executive Officer, stated: "Our Sales growth to date at +2% is solid and confirms the gradual improvement we had announced in October, in an environment that remains challenging. We confirm our 2014/15 guidance of organic growth in Profit from Recurring Operations between +1% and +3%. We are also benefiting from a highly positive forex impact, driven by the stronger USD: year-to-date reported sales are up +6% and the forex impact on Profit from Recurring Operations is now estimated1 at €180 million for the full FY2014/15.”

A detailed presentation of Sales for the third quarter of 2014/15 can be downloaded from our website: www.pernod-ricard.com

Note: All growth data specified in this press release refers to organic growth (constant FX and Group structure), unless otherwise stated. Data may be subject to rounding.

Chinese New Year: 19 February 2015 vs. 31 January 2014

________________
1 based on average FX rates for full FY 2014/15 projected on 1 April 2015 , particularly a EUR/USD rate of 1.19

About Pernod Ricard

Pernod Ricard is the world’s co-leader in wines and spirits with consolidated Sales of € 7,945 million in 2013/14. 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, Kahlúa and Malibu liqueurs, Mumm and Perrier- Jouët champagnes, as well Jacob’s Creek, Brancott Estate, Campo Viejo, Graffigna and Kenwood wines. Pernod Ricard employs a workforce of approximately 18,000 people and operates through a decentralised organisation, with 6 "Brand Companies” and 80 "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.

Appendices

Sales Analysis by Region

Net Sales

(€ millions)

  H1 2013/14   H1 2014/15   Change   Organic Growth   Group Structure   Forex impact
             
Asia / Rest of the World 1,749 38.3% 1,801 39.0% 52 3% (4) 0% (2) 0% 58 3%
Americas 1,209 26.5% 1,242 26.9% 32 3% 21 2% 15 1% (4) 0%
Europe 1,612   35.3% 1,579   34.2% (33)   -2% 7   0% (7)   0% (33)   -2%
World 4,570   100.0% 4,621   100.0% 51   1% 24   1% 6   0% 21   0%
 
                                     
Net Sales

(€ millions)

Q3 2013/14   Q3 2014/15 Change     Organic Growth Group Structure Forex impact
 
Asia / Rest of the World 690 42.7% 913 47.5% 223 32% 94 14% (2) 0% 131 19%
Americas 403 25.0% 503 26.2% 100 25% 21 5% 0 0% 79 20%
Europe 523   32.4% 505   26.3% (18)   -3% (4)   -1% (2)   0% (12)   -2%
World 1,616   100.0% 1,921   100.0% 305   19% 111   7% (4)   0% 198   12%
 
                                     
Net Sales

(€ millions)

YTD March

2013/14

 

YTD March

2014/15

Change Organic Growth Group Structure Forex impact
 
Asia / Rest of the World 2,439 39.4% 2,714 41.5% 275 11% 90 4% (4) 0% 189 8%
Americas 1,613 26.1% 1,745 26.7% 132 8% 42 3% 15 1% 76 5%
Europe 2,135   34.5% 2,083   31.8% (52)   -2% 3   0% (9)   0% (46)   -2%
World 6,186   100.0% 6,542   100.0% 356   6% 135   2% 2   0% 219   4%
 

Organic Sales Growth of the Top 14

      Net Sales       Volumes       Price/mix
 
Absolut -1% 0% -1%
Chivas Regal 0% 0% 0%
Ballantine's 4% 5% -2%
Ricard -3% -3% 0%
Jameson 9% 8% 2%
Havana Club -1% 1% -1%
Malibu -6% -5% 0%
Beefeater 4% 2% 2%
Kahlua 2% 0% 1%
Martell 1% 7% -6%
The Glenlivet 14% 12% 3%
Royal Salute -5% -6% 1%
Mumm 9% 15% -6%
Perrier-Jouët 8% 12% -3%
Top 14 2% 2% 0%
 

Foreign exchange impact 9M 2014/15

Forex impact 9M 2014/15

(€ millions)

  Average rates evolution   On Net Sales
2013/14   2014/15   %
                 
US dollar   USD 1.35 1.23 -8.7% 132
Chinese yuan CNY 8.25 7.63 -7.6% 52
Indian rupee INR 83.82 75.95 -9.4% 51
Pound sterling GBP 0.84 0.78 -7.8% 25
Korean won KRW 1.46 1.32 -9.6% 18
Venezuelan bolivar VEF 17.55 61.68 251.5% (18)
Russian rouble RUB 45.28 59.69 31.8% (49)
Other currencies               8
Total               219
 

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