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Pernod Ricard FY sales surpass €10bn

French firm Pernod Ricard reported a 17% organic sales rise for fiscal 2022, driven by double-digit gains for all spirits categories.

Pernod Ricard owns Jameson
Jameson Irish whiskey surpassed 10 million cases during fiscal 2022

For the year ending 30 June 2022, Absolut vodka owner Pernod Ricard saw sales break the €10bn barrier for the first time at €10.7 billion (US$10.72bn).

Alexandre Ricard, CEO of Pernod Ricard, said: “Our sales broke the symbolic milestone of €10 billion with our fastest growth rate in over 30 years, delivering a record €3 billion profit from recurring operations at a record operating margin of 28.3%.

“Growth was driven by all regions, categories, price points and channels, with a comparable contribution from both mature and emerging markets.”

Sales benefitted from the ‘strong recovery’ of the on-trade, off-trade resilience and the ‘rapid rebound’ of travel retail, despite low passenger traffic in China, Pernod Ricard said.

The firm’s ‘strategic international brands’ grew by 18%, boosted by Jameson Irish whiskey (up 24%), Scotch brands Chivas Regal (up 29%) and Ballantine’s (up 24%), Absolut (up 19%) and Martell Cognac (up 7%).

Jameson surpassed 10 million nine-litre cases during the 12-month period, and is targeting 15m cases by 2030.

Pernod’s ‘strategic local brands’ also recorded an 18% rise, led by Seagram’s Indian whiskies, Kahlúa liqueur, Olmeca Tequila and Seagram’s Gin.

The ‘speciality brands’ division climbed by 24%, with ‘continued very rapid development’ driven by American whiskies (up 38%), gin (up 43%) and agave spirits brands (up 21%).

The company highlighted that speciality brands doubled their sales when compared to the 2019 full year.

In July, Pernod Ricard established a dedicated business arm to drive growth of its American whiskey portfolio, which includes Jefferson’s Bourbon and Rabbit Hole whiskey.

Strategic wines, on the other hand, declined by 4%.

The company said dynamism in its ‘must-win’ markets was strong, namely India (up 26%), travel retail (up 48%), the US (up 8%) and China (up 5%).

In terms of regions, the Americas rose by 12%, bolstered by North America and Latin America.

The Asia and rest-of-the-world region jumped by 19%, driven by India, Turkey, China and Sub-Saharan Africa.

Sales in Europe also soared by 19%, boosted by Spain, Germany, France, Poland and the UK.

Ricard added: “While we are faced with a challenging and volatile environment, I am confident that our unique competitive advantages and the rapid deployment of our digital transformation will enable us to deliver our FY23 to FY25 medium-term financial framework.”

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