First Quarter 2013/2014 Sales

Press Release 24/10/2013

Slight sales decline in Q1 2013/14

Guidance of organic growth in Profit from Recurring Operations between +4% et +5% for FY 2013/14

 

Net sales for the first quarter of 2013/14 totalled ' 2,013 million. In a more challenging environment, Pernod Ricard recorded an organic decline of -1%, adversely affected by:

  • high comparatives in Q1 2012/13, both for major markets (US: +16%, China: +18%, Russia: +28%) and for Martell (+23%)
  • the slowdown of emerging markets
  • unfavourable mix

Reported growth decreased -9%, due to a particularly unfavourable foreign exchange impact over the period.

 

The Top 14 posted a -5% decline with a slight decline in volumes (-1%). Mix was negative (-6%), particularly due to the decline of Martell and Ballantine's in Asia, yet pricing remained favourable (+2%).

The growth of Priority Premium Wines (+1%) was driven by Brancott Estate and Campo Viejo.

The 18 Key Local Brands (+8%) posted a very good performance, in particular for brands targeting emerging middle classes.

 

The slowdown of emerging markets (-2%) was significantly impacted by strong comparatives (+13% in Q1 2012/13) and by China.

Mature markets (-1%) benefited from the strong performance of Western Europe, yet comparatives were unfavourable for the US.

 

During the period, the Group negotiated with its banks an amendment to its multi-currency revolving facility (' 2.5 billion), which has been renewed for five years with the spread having been reduced
20 basis points for the drawn portion.

 

This announcement provided Pierre Pringuet, Chief Executive Officer of Pernod Ricard, with the opportunity to state: 'Our first quarter was adversely affected by the slowdown of emerging markets and unfavourable technical effects. However, we remain confident in the diversity of our portfolio and the strength of our distribution network. We anticipate organic growth in
full-year profit from recurring operations between +4% and +5%.'

 

A detailed presentation of sales for the first quarter of 2013/14 can be downloaded from our website:
www.pernod-ricard.com

Note: All growth data specified in this press release refers to organic growth, unless otherwise stated. 
France is now included in the Europe operating segment.

Tags

On the same topic

  • Annual Shareholders’ Meeting of 8 November 2024

    On this day, the shareholders of Pernod Ricard have held their Annual Shareholders’ Meeting chaired by Mr Alexandre Ricard, Chairman & CEO, in order to approve, in particular, the consolidated and parent company financial statements of Pernod Ricard SA for the year ended 30 June 2024. 

    Read more
  • Q1 FY25 Sales

    SLOW START WITH CHINA AND US DECLINES LEADING TO 
    Q1 ORGANIC SALES -5.9% AND REPORTED -8.5%

    Read more
  • Invitation Pernod Ricard - First Quarter FY25 Sales

    Join the presentation of Pernod Ricard’s First quarter FY25 Sales during a call to be held on Thursday 17th October at 9am (CEST).

    Read more