Regulatory News:
Pernod Ricard (Paris:RI):
Press release - Paris, 8 February 2018
VERY GOOD H1
FY18+5.1% ORGANIC SALES GROWTH (+0.4%
REPORTED)+5.7% ORGANIC GROWTH IN PRO1 (-0.3%
REPORTED)+25% NET PROFIT2VERY STRONG FREE CASH
FLOW GROWTH: +21%
UPGRADE OF FY18
GUIDANCE3:ORGANIC
GROWTH IN PRO BETWEEN +4% AND +6%
SALES
Sales for H1 FY18 totalled €5,082m, with organic
growth of +5.1% and reported growth of +0.4%, due to
negative FX.
Performance accelerated, thanks to the consistent
implementation of the medium-term growth roadmap:
- Sustained and diversified growth, with
all regions and categories performing well
- improving price / mix
- negative impact of later Chinese New
Year4 offset by strong Martell demand (high-single digit volume
target for full FY18)
- favourable basis of comparison in some
geographies (as in Q1.)
All categories were dynamic, each growing +5%:
- Strategic International Brands
continued their strong growth, driven in particular by Martell
and Jameson
- Strategic Local Brands
accelerated thanks to Seagram’s Indian whiskies, Olmeca/Altos
and improving trend on Imperial (Korea)
- Strategic Wines accelerated due
to Campo Viejo’s momentum
- “Other” improved significantly driven
by fast-growing premium brands, in particular Monkey 47, Lillet
and Avion.
In terms of geography, the acceleration was driven by
Asia, in particular China (despite adverse Chinese New Year
phasing), India and Travel Retail Asia
- Americas: continued dynamism
+6%
- Asia-Rest of World: acceleration
+7% vs. +3% in H1 FY17
- Europe: continued good
performance +3%
Q2 Sales were €2,790m, with +4.6% organic growth (-0.8%
reported), broadly consistent with underlying trends in Q1.
_______________1 PRO: Profit from Recurring Operations2 Reported
Group share3 Guidance given to market on 31 August 2017 of organic
PRO growth between +3% and +5%4 Chinese New Year on 16 February
2018 vs. 28 January 2017
RESULTS
H1 FY18 PRO1 was €1,496m, with organic growth
of +5.7% and -0.3% reported, due to USD
weakness2. For full-year FY18, the FX impact on
PRO1 is estimated at c.
-€180m3.
The organic PRO margin was up +21bps, driven by:
- Gross margin ratio:
+65bps (partly enhanced by phasing)
- price impact improving
- positive mix thanks in
particular to Martell, Jameson and Chivas
- tight management of Cost Of Goods
Sold thanks to operational efficiency initiatives, but negative
impact of agave cost and Goods & Services Tax in India
- A&P1: +7%
- growth ahead of topline in H1
due to phasing and accelerated spend to internationalise
Martell
- Structure costs ratio
stable.
The H1 FY18 corporate income tax rate on recurring items
was c.25% and this rate should carry through for
full-year FY18. The USA tax reform is not expected to have a
material impact on the corporate income tax rate in future.
Group share of Net PRO1 was €994m, +4% reported
vs. H1 FY17, despite adverse FX, thanks to a reduction in financial
expenses. At constant FX, growth was +10%.
Group share of Net profit was €1,147m, +25% reported vs.
H1 FY17, due to a reduction in financial expenses and positive
non-recurring items (including a one-off sale of bulk Scotch
inventory, the reimbursement of the French 3% tax on FY13-17
dividends and a €55m one-off P&L positive net impact further to
the reevaluation of deferred tax assets pursuant to the USA tax
reform.)
IFRS 15 will be implemented from FY19, leading to the
reclassification of certain A&P expenses in deduction of Sales
and the integration of the activity of certain third-party bottlers
in India into Sales and Cost of Goods Sold. The main proforma
estimated impacts are:
- neutral on PRO but PRO margin up c.
70bps
- Sales reduced by c.3%
- Gross Margin down c. 170bps
- A&P / Sales ratio down c. 300bps to
c.16%.
FREE CASH FLOW AND DEBT
Free Cash Flow increased very strongly to €799m, +21% vs.
H1 FY17, resulting in a Net debt decrease of €476m to €7,375m.
The Net Debt/EBITDA ratio at average rates2 was down
significantly to 2.9x at 31 December 2017.
The average cost of debt reduced to 3.4% vs. 4.0% in H1
FY17. The expected cost for full-year FY18 is c. 3.6%.
_______________1PRO: Profit from Recurring Operations; GM: Gross
Margin; A&P: Advertising & Promotional expenditure2EUR/USD
average rate of 1.18 in H1 FY18 vs. 1.10 in H1 FY173Based on
average FX rates projected on 25 January 2018, particularly a
EUR/USD rate of 1.25
As part of this communication, Alexandre Ricard, Chairman
and Chief Executive Officer, declared,
“H1 FY18 was a very good semester, with an acceleration vs. FY
17, in particular in China, India and Global Travel Retail.
For full-year FY18, we will maintain our focus on digital,
innovation and operational excellence (including pricing.) We
expect sustained and diversified growth to continue across our
regions and brands. We are therefore increasing our guidance for
full-year FY18 organic growth in Profit from Recurring Operations
to between +4% and +6%1.”
About Pernod Ricard
Pernod Ricard is the world’s n°2 in wines and spirits with
consolidated Sales of €9,010 million in FY17. 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, Malibu
liqueur, Mumm and Perrier-Jouët champagnes, as well Jacob’s Creek,
Brancott Estate, Campo Viejo and Kenwood wines. Pernod Ricard
employs a workforce of approximately 18,500 people and operates
through a decentralised organisation, with 6 “Brand Companies” and
86 “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.
_______________1 Guidance given to market on 31 August 2017 of
organic PRO growth between +3% and +5%
All growth data specified in this presentation refers to organic
growth, unless otherwise stated. Data may be subject to
rounding.
A detailed presentation of H1 FY18 Sales and Results can be
downloaded from our website: www.pernod-ricard.com
Audit procedures have been carried out on the half-year
financial statements. The Statutory Auditors’ report will be issued
following their review of the management report.
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.
Free cash flow
Free cash flow comprises the net cash flow from operating
activities excluding the contributions to Allied Domecq pension
plans, aggregated with the proceeds from disposals of property,
plant and equipment and intangible assets and after deduction of
the capital expenditures.
“Recurring” indicators
The following 3 measures represent key indicators for the
measurement of the recurring performance of the business, excluding
significant items that, because of their nature and their unusual
occurrence, cannot be considered as inherent to the recurring
performance of the Group:
Recurring free cash flow is calculated by restating free cash
flow from non-recurring items.
- Profit from
recurring operations
Profit from recurring operations corresponds to the operating
profit excluding other non-current operating income and
expenses.
- Group share of
net profit from recurring operations
Group share of net profit from recurring operations corresponds
to the Group share of net profit excluding other non-current
operating income and expenses, non-recurring financial items and
corporate income tax on non-recurring items.
Net debt
Net debt, as defined and used by the Group, corresponds to total
gross debt (translated at the closing rate), including fair value
and net foreign currency assets hedging derivatives (hedging of net
investments and similar), less cash and cash equivalents.
EBITDA
EBITDA stands for “earnings before interest, taxes, depreciation
and amortization”. EBITDA is an accounting measure calculated using
the Group's profit from recurring operations excluding depreciation
and amortization on operating fixed assets.
Appendices
Emerging Markets
Asia-Rest of World Americas
Europe Algeria Malaysia Argentina Albania Angola
Mongolia Bolivia Armenia Cambodia Morocco Brazil Azerbaijan
Cameroon Mozambique Caribbean Belarus China Namibia Chile Bosnia
Congo Nigeria Colombia Bulgaria Egypt Persian Gulf Costa Rica
Croatia Ethiopia Philippines Cuba Georgia Gabon Senegal Dominican
Republic Hungary Ghana South Africa Ecuador Kazakhstan India Sri
Lanka Guatemala Kosovo Indonesia Syria Honduras Latvia Iraq
Tanzania Mexico Lithuania Ivory Coast Thailand Panama Macedonia
Jordan Tunisia Paraguay Moldova Kenya Turkey Peru Montenegro Laos
Uganda Puerto Rico Poland Lebanon Vietnam Uruguay Romania
Madagascar Zambia Venezuela Russia Serbia Ukraine
Strategic International Brands’ organic Sales growth
Volumes
H1 FY18
(in 9Lcs millions)
Organic Sales growth
H1 FY18
Volumes Price/mix Absolut 6.4
2% 3% 0% Chivas Regal 2.6
2% 2% 1% Ballantine's 4.0
2% 3% -1% Ricard 2.3 -8%
-8% 0% Jameson 4.0 12%
11% 1% Havana Club 2.4 7%
5% 2% Malibu 1.9 7% 5%
1% Beefeater 1.6 3% 1% 1%
Martell 1.4 10% 8% 3% The
Glenlivet 0.6 1% 3% -2% Royal
Salute 0.1 -5% -5% 0% Mumm
0.5 0% -2% 1% Perrier-Jouët
0.2 4% 1% 3% Strategic International
Brands 28.1 5% 3% 2%
Sales Analysis by Region
Net Sales
(€ millions)
Q1 FY17 Q1 FY18 Change Organic Growth
Group Structure Forex impact
Americas 649 29% 652 28% 3 0% 40 6% (3) 0%
(34) -5% Asia / Rest of World 917 41% 940 41% 23 2% 64 7% (1) 0%
(41) -4% Europe 682 30% 701 31% 19 3% 23
3% (1) 0% (3) 0%
World 2,248
100% 2,292 100% 45
2% 128 6% (5) 0%
(78) -3%
Net Sales
(€ millions)
Q2 FY17 Q2 FY18 Change Organic Growth
Group Structure Forex impact Americas 782 28%
747 27% (35) -5% 38 5% (10) -1% (64) -8% Asia / Rest of World 1,123
40% 1,125 40% 2 0% 71 6% (1) 0% (69) -6% Europe 907 32% 918
33% 11 1% 19 2% (3) 0% (5) -1%
World 2,813 100% 2,790
100% (23) -1% 128
5% (14) 0% (137)
-5%
Net Sales
(€ millions)
H1 FY17 H1 FY18 Change Organic Growth
Group Structure Forex impact Americas 1,431
28% 1,399 28% (32) -2% 79 6% (13) -1% (98) -7% Asia / Rest of World
2,040 40% 2,065 41% 25 1% 136 7% (1) 0% (110) -5% Europe 1,589
31% 1,619 32% 29 2% 42 3% (4) 0%
(8) -1%
World 5,061 100%
5,082 100% 22 0%
256 5% (19) 0%
(216) -4%
Bulk spirits are allocated by Region according to the Regions’
weight in the Group
Summary Consolidated Income Statement
(€ millions) H1 FY17 H1
FY18 Change
Net sales 5,061 5,082
0% Gross Margin after logistics costs
3,158 3,200 1% Advertising and
promotion expenses (901) (930) 3%
Contribution after A&P expenditure 2,257
2,270 1% Structure costs (756)
(774) 2%
Profit from recurring operations
1,500 1,496 0% Financial
income/(expense) from recurring operations (201) (153) -24%
Corporate income tax on items from recurring operations (334) (333)
0%
Net profit from discontinued operations,
non-controlling interestsand share of net income from
associates
(9) (16) 80%
Group share of net profit from
recurring operations 957 994
4% Other operating income & expenses (0) 62 NA
Financial income/(expense) from non-recurring operations (4) 4 NA
Corporate income tax on items from non recurring operations (38) 87
NA
Group share
of net profit 914 1,147
25% Non-controlling interests 10 16 65%
Net profit 924 1,163
26%
Profit from Recurring Operations by Region
World
(€ millions) H1
FY17 H1 FY18 Change Organic Growth
Group Structure Forex impact Net sales (Excl.
T&D) 5,061 100% 5,082 100% 22 0% 256 5% (19) 0% (216) -4% Gross
margin after logistics costs 3,158 62% 3,200 63% 42 1% 195 6% (6)
0% (146) -5% Advertising & promotion (901) 18% (930) 18% (28)
3% (67) 7% 0 0% 39 -4% Contribution after A&P 2,257 45%
2,270 45% 13 1% 127 6% (6) 0% (108)
-5%
Profit from recurring operations 1,500
30% 1,496 29% (5)
-0.3% 87 5.7% (9)
-1% (83) -6% Americas
(€ millions) H1 FY17 H1 FY18
Change Organic Growth Group Structure Forex
impact Net sales (Excl. T&D) 1,431 100% 1,399 100%
(32) -2% 79 6% (13) -1% (98) -7% Gross margin after logistics costs
972 68% 937 67% (35) -4% 52 5% (6) -1% (82) -8% Advertising &
promotion (291) 20% (299) 21% (8) 3% (27) 9% 0 0% 19 -6%
Contribution after A&P 681 48% 638 46% (43)
-6% 25 4% (5) -1% (63) -9%
Profit
from recurring operations 463 32%
423 30% (40) -9%
17 4% (8) -2% (50)
-11% Asia / Rest of World
(€
millions) H1 FY17 H1 FY18 Change
Organic Growth Group Structure Forex impact
Net sales (Excl. T&D) 2,040 100% 2,065 100% 25 1% 136 7%
(1) 0% (110) -5% Gross margin after logistics costs 1,212 59% 1,243
60% 30 2% 103 8% (0) 0% (73) -6% Advertising & promotion (330)
16% (355) 17% (26) 8% (44) 13% (0) 0% 18 -6% Contribution after
A&P 883 43% 887 43% 5 1% 59 7% (0)
0% (55) -6%
Profit from recurring operations
633 31% 628 30%
(5) -1% 36 6% (0)
0% (41) -6% Europe
(€ millions) H1 FY17 H1 FY18
Change Organic Growth Group Structure Forex
impact Net sales (Excl. T&D) 1,589 100% 1,619 100%
29 2% 42 3% (4) 0% (8) -1% Gross margin after logistics costs 973
61% 1,020 63% 47 5% 39 4% (1) 0% 8 1% Advertising & promotion
(280) 18% (275) 17% 5 -2% 4 -1% 0 0% 1 -1% Contribution after
A&P 693 44% 745 46% 52 7% 43 6% (1)
0% 10 1%
Profit from recurring operations
405 25% 445 27% 40
10% 34 8% (1)
0% 7 2%
Bulk spirits are allocated by Region according to the Regions’
weight in the Group
Foreign Exchange Impact
Forex impact H1 FY18
(€ millions)
Average rates evolution On Net Sales
On Profit
fromRecurringOperations1
H1 FY17 H1 FY18 %
US dollar USD 1.10 1.18 7.1% (87) (46) Chinese
yuan CNY 7.41 7.81 5.5% (27) (18) Turkish lira TRL 3.43 4.30 25.6%
(8) (8) Japanese yen JPY 116.12 131.67 13.4% (11) (7) Indian rupee
INR 73.73 75.87 2.9% (14) (5) Pound sterling GBP 0.86 0.89 3.8% (9)
3 Other (61) (3)
Total (216)
(83)
For full-year FY18, a negative FX impact on PRO of c. -€180m
is expected1
Notes1. Impact on PRO includes strategic hedging on Forex2.
Based on average FX rates for full FY 18 projected on 25 January
2018, particularly EUR/USD = 1.25
Sensitivity of profit and debt to EUR/USD exchange
rate
Estimated impact of a
1% appreciation of the USD and linked
currencies(1)
Impact on the income
statement(2) (€ millions) Profit from recurring
operations +18 Financial expenses (2)
Pre-tax profit from
recurring operations +16 Impact
on the balance sheet (€ millions) Increase/(decrease)
in net debt +44 (1) CNY, HKD (2) Full-year effect
Balance Sheet
Assets(€ millions)
30/06//2017
31/12//2017
(Net book value) Non-current assets Intangible assets
and goodwill 17,152 16,692 Tangible assets and other assets 3,028
3,107 Deferred tax assets 2,377 1,581
Total non-current
assets 22,557 21,380 Current assets
Inventories 5,305 5,251 of which aged work-in-progress 4,416 4,356
of which non-aged work-in-progress 72 59 Receivables (*) 1,134
1,841 Trade receivables 1,059 1,763 Other trade receivables 74 78
Other current assets 270 269 Other operating current assets 264 263
Tangible/intangible current assets 6 5 Tax receivable 111 144 Cash
and cash equivalents and current derivatives 700 907
Total
current assets 7,521 8,412 Assets held for
sale 10 5
Total assets 30,088
29,797 (*) after disposals of receivables of:
557 840
Liabilities and shareholders’ equity(€ millions)
30/06//2017
31/12//2017
Group Shareholders’ equity 13,706
14,372 Non-controlling interests 180 184 of which profit
attributable to non-controlling interests 28 16
Total
Shareholders’ equity 13,886 14,556
Non-current provisions and deferred tax liabilities 4,524 3,743
Bonds non-current 6,900 6,677 Non-current financial liabilities and
derivative instruments 522 617
Total non-current liabilities
11,946 11,036 Current provisions 159 148
Operating payables 1,826 2,032 Other operating payables 935 729 of
which other operating payables 619 693 of which tangible/intangible
current payables 316 36 Tax payable 156 279 Bonds - current 94 92
Current financial liabilities and derivatives 1,087 925
Total
current liabilities 4,256 4,205
Liabilities held for sale
-
-
Total liabilities and shareholders' equity
30,088 29,797
Analysis of Working Capital Requirement
(€ millions)
June2016
December2016
June 2017
December2017
H1 FY17 WCchange
H1 FY18 WCchange
Aged work in progress 4,364 4,331 4,416 4,356 8 (25)
Advances to suppliers for wine and ageing spirits 5 16 5 24 11 20
Payables on wine and ageing spirits (109) (140) (107) (153) (31)
(47)
Net aged work in progress 4,260 4,207
4,314 4,228 (12) (52) Trade
receivables before factoring/securitization 1,517 2,745 1,617 2,603
1,192 1,042 Advances from customers (2) (17) (16) (8) (15) 8 Other
receivables 305 297 333 315 (3) 5 Other inventories 857 784 818 837
(76) 42 Non-aged work in progress 73 80 72 59 7 (12) Trade payables
and other (2,168) (2,521) (2,323) (2,565) (322) (302)
Gross
operating working capital 582 1,367 502
1,241 783 782 Factoring/Securitization
impact (520) (913) (557) (840) (386) (294)
Net Operating Working
Capital 62 454 (56) 402 397
489 Net Working Capital 4,322
4,661 4,258 4,630 385 436
Of which recurring variation
374 453 Of which
non recurring variation
10 (17)
Net Debt
(€ millions)
30/06//2017
31/12//2017
Current Non-current
Total Current Non-current
Total Bonds 94 6,900
6,993 92 6,677
6,769 Syndicated loan - 319 319 - 209
209 Commercial paper 630 - 630 730 - 730 Other loans and
long-term debts 441 161 601 177 380 558
Other financial
liabilities 1,071 480
1,551 908 589
1,497 GROSS FINANCIAL DEBT 1,165
7,379 8,545 1,000
7,266 8,266 Fair value hedge derivatives –
assets (6) (17) (22) (3) (5) (8) Fair value hedge derivatives –
liabilities - 7 7 - 8 8
Fair value hedge derivatives
(6) (9) (15) (3)
3 0 Net investment hedge derivatives –
assets - - - - - - Net investment hedge derivatives – liabilities -
- - - - -
Net investment hedge derivatives -
- - - -
- Net asset hedging derivative instruments – assets
(2) - (2) (6) - (6) Net asset hedging derivative instruments –
liabilities - - - - - -
Net asset hedging derivative
instruments (2) - (2)
(6) - (6) Financial
debt after hedging 1,158 7,370
8,528 991 7,269
8,260 Cash and cash equivalents (677)
- (677) (886)
- (886) Net financial debt 481
7,370 7,851 106 7,269 7,375
Change in Net Debt
(€ millions) 31/12/2016
31/12/2017 Operating profit 1,500 1,558 Depreciation and
amortisation 106 106 Net change in impairment of goodwill, PPE and
intangible assets 4 1 Net change in provisions (75) (17)
Retreatment of contributions to pension plans acquired from Allied
Domecq 4 3 Changes in fair value on commercial derivatives and
biological assets 1 (2) Net (gain)/loss on disposal of assets (10)
(39) Share-based payments 20 18
Self-financing capacity before
interest and tax 1,551 1,628 Decrease /
(increase) in working capital requirements (385) (436) Net interest
and tax payments (363) (263) Net acquisitions of non financial
assets and others (145) (129)
Free Cash Flow 658
799 of which recurring Free Cash Flow 741
690 Net disposal of financial assets and activities,
contributions to pension plans acquired from Allied Domecq (0) 8
Dividends paid (501) (543) (Acquisition) / Disposal of treasury
shares and others (23) (32)
Decrease / (increase) in net debt
(before currency translation adjustments) 134 231
Foreign currency translation adjustment (371) 245
Decrease /
(increase) in net debt (after currency translation adjustments)
(237) 476 Initial net debt (8,716) (7,851) Final net
debt (8,953) (7,375)
Debt Maturity at 31 December 2017
[Missing charts are available on the original document and
on www.pernod-ricard.com]
Available cash at end December 2017: €0.9bn in cash and
€2.3bn syndicated credit not used (syndicated credit coming to
maturity in June 2022)
Gross Debt Hedging at 31 December 20171
[Missing charts are available on the original document and
on www.pernod-ricard.com]
Natural debt hedging maintained: EUR/USD breakdown close to
that of EBITDA
69% of Gross debt at fixed rates
1. includes fair value and net foreign currency asset hedge
derivatives
Bond details
Currency Par value
Coupon Issue date Maturity date
€ 850 m 2.000%
20/03//2014
22/06//2020
€ 650 m 2.125%
29/09//2014
27/09//2024
EUR
€ 500 m 1.875%
28/09//2015
28/09//2023
€ 600 m 1.500%
17/05//2016
18/05//2026
$ 1,000 m 5.750%
07/04/2011
07/04//2021
$ 1,500 m 4.450%
25/10/2011
15/01//2022
$ 1,650 m o/w:
USD
$ 800 m at 10.5 years 4.250%
12/01//2012
15/07//2022
$ 850 m at 30 years 5.500%
15/01//2042
$ 201 m Libor 6m + spread
26/01//2016
26/01//2021
$ 600 m 3.250%
08/06//2016
08/06//2026
Diluted EPS
(x 1,000) H1 FY17 H1 FY18
Number of shares in issue at end of period 265,422 265,422
Weighted average number of shares in issue (pro rata temporis)
265,422 265,422 Weighted average number of treasury shares (pro
rata temporis) (1,148) (1,388) Dilutive impact of stock options and
performance shares 1,166 1,437
Number of shares used in diluted
EPS calculation 265,440 265,471 (€
millions and €/share) H1 FY17 H1 FY18
reported
▲
Group share of net profit from recurring operations 957 994 +4%
Diluted net earnings per share from recurring operations
3.61 3.74 +4%
Upcoming Communications
DATE1
EVENT
Thursday 22 March 2018
EMEA LATAM conference call
Thursday 19 April 2018
Q3 FY18 Sales
Wednesday 6 June 2018
Asia Conference call
Wednesday 29 August 2018
FY18 Full-year Sales &
Results
Thursday 18 October 2018
Q1 FY19 Sales
Wednesday 21 November 2018
Annual General Meeting
1 The above dates are indicative and are
liable to change
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180207006257/en/
Pernod RicardJulia Massies, +33 (0)1 41 00 41 07VP, Financial
Communication & Investor RelationsorAdam Ramjean, +33 (0)1 41
00 41 59Investor Relations ManagerorEmmanuel Vouin, +33 (0)1 41 00
44 04Press Relations ManagerorAlison Donohoe, +33 (0)1 41 00 44
63Press Relations Manager
Grafico Azioni Pernod Ricard (EU:RI)
Storico
Da Feb 2024 a Mar 2024
Grafico Azioni Pernod Ricard (EU:RI)
Storico
Da Mar 2023 a Mar 2024