Pernod Ricard Sales Up 21%

Pernod Ricard reports fiscal 2022 sales were 21% higher than a year earlier (17% organically).  Net profit from recurring operations was up 25%.

Sales in the Americas rose 12%, with very strong growth in North America and "very dynamic growth in Latin America. "  Travel retail rebounded.  But that growth lagged both Asia-Rest of World and Europe, which grew 19%.

All spirits categories were strong.  Strategic international brands and stategic local brands were both up 18% and Specialty brands, including American whiskies, gins and agave brands were up 24%.  Strategic wines, however, declined 4%.

Alexandre Ricard, chairman/CEO, said, “Three words summarize Pernod Ricard’s excellent performance in FY22: record, balanced and sustainable.

"FY22 was a record year in many respects. 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%.

"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.

"Most importantly, our performance was sustainable thanks to the real progress we’ve made on delivering our strategic roadmap “Good Times from a Good Place,” he said, adding:

"There has definitely been a newfound appreciation for conviviality since the Covid outbreak and I would like to take this opportunity to praise our teams whose commitment has never wavered, and who continue to play a key role in facilitating convivial experiences with our brands around the world.

"While we are faced with a challenging and volatile environment, I am confident that our unique competitive advantages and the rapid deployment of our digital transformation will enable us to deliver our FY23 to FY25 medium-term financial framework.”