Pernod Ricard: Dynamic start to the year with diversified sales growth of +22% as reported and +11% organic and a strong price effect of +7%


PARIS–(BUSINESS WIRE)–Regulatory news:

Pernod Ricard (Paris:RI):

Press release – Paris, October 20, 2022

FY23 first quarter sales totaled €3,308 million, with a organic growth of +11%:

Strong overall performance in all markets:

  • The United States benefits from a strong exhaustion of distributors with shipments impacted by phasing
  • Strong growth in China and India
  • Travel Retail continues to rebound
  • Continued strong momentum in Europe1, reinforced by an excellent tourist season supporting the growth of On-trade
  • Strong price with the effects of FY22 price increases as well as further increases implemented notably in the United States
  • Growing volumes in our three regions1

By category, diversified double-digit growth in all spirits segments with sales driven by:

  • Strategic International Brands: +12%, very dynamic growth driven mainly by Scotch, Jameson, Absolut, Beefeater and Martell
  • Strategic Local Brands: +13%, mainly driven by the strong double-digit growth of Seagram’s whiskeys
  • Specialized brands: +16%, continued excellent development driven by Lillet, Malfy, Redbreast and Jefferson’s
  • Strategic Wines: -8%, a soft start, particularly in the United States and the United Kingdom, with phasing effects. Dynamism in Canada and India

Reported sales growth was +22%, with an overall very favorable foreign exchange impact, mainly from the US dollar and the Chinese yuan against the euro.

Alexandre RicardChairman and Chief Executive Officer, said,

“I am extremely encouraged by our start to the year. Our performance continues to be diversified with growth in many markets and diversified across our portfolio with all of our spirits segments growing double digits.

In an environment that remains difficult and volatile, as with any business, we continue to invest actively to support our unique competitive advantages and fuel our future growth.

We have been very active in portfolio management over the last quarter with Sovereign Brands, Código 1530 and Nocheluna and we are delighted to be working with our new partners to fully develop the global potential of these very attractive brands.

We expect this dynamic growth to continue throughout FY23, demonstrating the strength of our strategy and the full dedication and commitment of our teams around the world. »

All growth data specified in this press release refers to organic growth (at constant scope and exchange rates), unless otherwise indicated. Data may be rounded.

A detailed presentation of the sales of the T1 FY23 can be downloaded from our website:

Definitions and reconciliation of non-IFRS measures with 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 that these measures provide valuable additional information to users of the financial statements in understanding the Group’s performance. These non-IFRS measures should be considered supplemental to comparable IFRS measures and the reported movements therein.

Organic growth

Organic growth is calculated after excluding the effects of exchange rate fluctuations, acquisitions and disposals and changes in applicable accounting principles.

The impact of exchange rates is calculated by converting the results of the current year at the exchange rates of the previous year.

For acquisitions in the current year, post-acquisition results are excluded from organic movement calculations. For acquisitions of the previous year, post-acquisition results are included in the previous year but are included in the calculation of the organic change from the anniversary of the acquisition date of the current year.

When a business, a brand, a brand distribution right or an agency agreement has been transferred or terminated during the previous year, the Group, in the organic movement calculations, excludes the results of this business from the previous year. For disposals or terminations of the current year, the Group excludes the results of this activity of the previous year from the date of disposal or termination.

This measure makes it possible to focus on the performance of the activity which is common to the two years and which represents the measures on which the local managers are most directly able to influence.

Income from recurring operations

Current operating income corresponds to operating income excluding other non-current operating income and expenses.

About Pernod Ricard

Pernod Ricard is the world’s second largest producer of wines and spirits with consolidated sales of €10,701 million for the FY22 financial year. The Group, which owns 17 of the top 100 spirits brands, has one of the most prestigious and comprehensive portfolios in the industry with more than 240 premium brands spread over more than 160 markets. Pernod Ricard’s portfolio includes Absolut Vodka, pastis Ricard, Ballantine’s, Chivas Regal, Royal Salute and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur and even Mumm and Perrier-Jouët champagnes . The Group’s mission is to unleash the magic of human ties by bringing “Good Times from a Good Place”, in accordance with its Sustainable Development and Responsibility roadmap. Pernod Ricard’s decentralized organization allows its 19,480 employees to be ambassadors in the field of its culture of voluntary and inclusive conviviality, bringing people together in a meaningful, sustainable and responsible way to create long-term value. In executing its strategic plan, Transform & Accelerate, Pernod Ricard is now leveraging its “Conviviality Platform”, a new growth model based on data and artificial intelligence to meet ever-changing consumer demand. .

Pernod Ricard is listed on Euronext (Ticker: RI; ISIN code: FR0000120693) and is part of the CAC 40 and Eurostoxx 50 indices.


1 Excluding Russia/Ukraine


First Quarter FY23 Sales by Region

Net sales
(in millions of euros)
Q1 FY22 Q1 FY23 To change Organic growth Group structure Currency impact





+184 +24% +46 +6% +16 +2% +122 +16%
Asia / Rest of the World





+336 +29% +231 +20% +25 +2% +80 +7%





+70 +9% +28 +4% +25 +3% +17 +2%





+590 +22% +305 +11% +66 +2% +219 +8%

Note: Bulk spirits are broken down by region based on the weight of the region in the group

Impact of exchange rates on Q1 2023 sales

Q1 FY23 Forex Impact
(in millions of euros)
Evolution of average rates On net sales
Q1 FY22 Q1 FY23 %
American dollars





Pound sterling






chinese yuan





Indian rupee





Turkish Lira






Russian ruble





Canadian dollar





Other +31
Total +219

Upcoming Communications

Date 1 Event
November 10e2:00 p.m. CET annual general meeting
November 22n/a3:00 p.m. CET EMEA LATAM conference call
February 16e09:00 CET First-half 2023 sales and results
  1. The dates are indicative and subject to change.

20e October 2022 Call Details

Available in the media section of the Pernod Ricard website.


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