Pernod Rebounds in Fiscal ‘21, With Jameson, U.S. Growth Up SharplySeptember 1, 2021
For its fiscal year 2021, Pernod Ricard saw sales organic sales rise 9.7% to €8.8 billion ($10.4b) as the company rebounded after a challenging 2020. Profit from recurring operations was up 18.3% on an organic basis to €2.4 billion ($2.84b) and growth for fiscal year 2021 was stronger than fiscal year 2019. The company saw progress across all its global markets, with significant premiumization and growth in key markets like the U.S. and China.
For the Americas, which accounts for 30% of Pernod Ricard’s sales, the company saw organic sales jump by 14%, with the U.S. outperforming the rest of the region, up 16% to over €2 billion ($2.37b). Growth in the U.S. was spurred by substantial increases for Jameson, The Glenlivet, Malibu, and Martell, with Pernod’s high-end whiskies—like Aberlour, Redbreast, and the company’s American whiskey portfolio—also in positive territory.
Pernod’s greatest rebound in fiscal year 2021 came from Jameson. With the on-premise substantially more open than in 2020, Jameson was up 18.8% globally, according to the company. Sales in the U.S. were even stronger, with the brand up 18.6% in NABCA channels through July. Similarly, The Glenlivet was up 22.2% through July of this year, according to the NABCA, while Malibu rose 13% and Martell jumped 58.7%.
While those brands showed some of the strongest growth in Pernod’s portfolio, all of Pernod’s key brands, were up, with the company seeing overall sales rise 7% through July. Despite facing challenging conditions over recent years, Absolut has reversed its downward trend so far this year, growing by 4.5%.
Globally, Pernod also posted healthy growth, with Europe up 4%, China leaping by 44%, and India up 9%. The only area of decline was Travel Retail, which dropped by 40% as global travel has yet to recover from the pandemic. “The (overall) business rebounded very strongly during FY21 to exceed FY19 levels,” said Pernod Ricard chairman Alexandre Ricard. “We expect this good sales momentum to continue in FY22 with, in particular, a very dynamic Q1. Thanks to our solid fundamentals, our teams and our brand portfolio, we are emerging from this crisis stronger.”—Shane English
|Pernod Ricard USA—Key Spirits Brands1|
|Control States’ Volume Growth
|The Glenlivet||Scotch Whisky||470||22.2%|
|Chivas Regal||Blended Scotch||256||15.4%|
|Total Pernod Ricard4||15,648||7.0%|
|1 Thousands of 9-liter cases.
2 Year-to-date through July.
3 Excludes pre-packaged cocktails.
4 Excludes wine.
Source: IMPACT DATABANK © 2021