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Pernod Ricard’s Sales Jump 17% To $10.7 Billion In Full Fiscal Year

September 1, 2022

Pernod Ricard saw sales climb 17% on an organic basis to €10.7 billion ($10.7b) in its fiscal year through June, driven by price increases as well as “strong recovery in the on-trade, resilience in the off-trade, and rapid rebound in travel retail,” according to the company. Profit from recurring operations was up 19% to €3 billion ($3b).

Pernod’s U.S. sales were up 8% for the year—matching its three-year average at constant currency—propelled by double-digit depletions growth for Jameson and strong performances by Kahlua, Martell, and The Glenlivet. The company’s “specialty portfolio,” including brands like its American whiskies, Tequila and mezcal, and Redbreast Irish whiskey, also grew by double-digits. Pernod recently created a dedicated business unit called the American Whiskey Collective as it looks to markedly expand the presence of brands like Jefferson’s, Rabbit Hole, Smooth Ambler, and TX in the coming years. According to Pernod Ricard North America chairman and CEO Ann Mukherjee, American whiskey is expected to account for a significant amount of Pernod Ricard USA’s total volumes within the next five to 10 years.

Pernod said that for its new fiscal year it’s expecting “dynamic, broad-based net sales growth, on a normalizing comparison basis, with a good start to Q1,” but will take an “intense focus on revenue growth management and operational efficiencies in a high inflationary environment.”

“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%,” said chairman and CEO Alexandre Ricard. “FY22’s performance was also very well balanced. Growth was driven by all regions, categories, price points, and channels, with a comparable contribution from both mature and emerging markets.”

Ricard added that while the company is monitoring the “challenging and volatile” environment, its “competitive advantages and the rapid deployment of our digital transformation” will fuel further growth moving forward. Earlier this summer, Ricard said Pernod will leverage enhanced precision in its pricing via a number of proprietary predictive digital tools like Matrix and D-Star, allowing the company to “offer the right product at the right price at the right time to the right consumer with the right experience for every occasion in every market. And this means precision at scale.”—Daniel Marsteller

Pernod Ricard USA—Key Spirits Brands
Brand Origin/Type Total 2021
Depletions1
2022 YTD2
Percent Change
In Control States
Jameson Irish Whiskey 4,059 1.5%
Absolut Imported Vodka 3,194 -9.3%
Malibu Imported Rum 2,979 -10.8%
Kahlúa Imported Liqueur 938 -2.7%
The Glenlivet Scotch Whisky 527 -5.1%
Beefeater Gin 429 -2.1%
Olmeca Altos Tequila 339 -15.4%
Absolut Cans RTD 297 112.8%
Total Key Brands3 12,762 -4.8%
1 Thousands of 9-liter cases.
2 Year-to-date through July.
3 Addition of columns may not agree due to rounding.

Source: NABCA and IMPACT DATABANK © 2022
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