Pernod Ricard, the Absolut Company delivered full year 2022 record sales with market share gains in most markets, while leveraging its wide portfolio and geographical breadth and achieving price increases across all markets.
In emerging markets such as Nigeria, the global maker of wine and spirits recorded an amazing +81% sales growth.
Sales were driven by a strong recovery of the On-trade, resilience in the Off-trade, and a rapid rebound in Travel Retail.
What the company is saying
- Alexandre Ricard, Chairman and Chief Executive Officer of the company peaking on the results said: “In support of our ongoing mission at Pernod Ricard to ‘unlock the magic of human connection by bringing good times from a good place’, we shared today our record-breaking annual results for the fiscal year to the end of June 2022.
- I would like to highlight a few key figures that, I feel, represent the incredible shared success achieved by my 19,000 colleagues worldwide.
- Together we reached the symbolic double-digit figure for our revenue, with over €10 billion net sales for the first time. Additionally, two financial milestones have been broken, with our Profit from Recurring Operating at €3 billion and our highest ever cashflow at €1.8 billion.
- And speaking about milestones, Absolut (The Absolut Company) broke the 12m cases volume sales worldwide, Jameson (Irish Distillers) the 10m and Ballantines (Chivas Brothers) the 9m. Indeed, our splendid portfolio of Scotch Whiskies grew by an impressive 25% and Martell (Martell Mumm Perrier-Jouët) by 7%. These are just some examples of the record sales of so many of the brands across our unrivalled portfolio.
- I am extremely proud to say that we have been able to ring the “double-digit growth” bell many times this year, in markets across the Asian/Rest of the World and European regions, which are both growing at an impressive rate of 19%, with emerging markets such a Nigeria posting an amazing +81% sales growth, to name but a few. When it comes to our must-win markets, the US reported a +8%, China +5% and India a successful +26 %, while Global Travel Retail also rebounded impressively as many parts of the world reopened post-COVID.
- We have achieved all these milestones while continuing to make real and tangible progress in delivering on all aspects of our strategic S&R roadmap “Good Times from a Good Place”.
- One final figure worth mentioning here: 2,1 billion. It’s the number of bottles that we produced and distributed last year at a global level of our 240 brands. It’s an impressive figure, but it does not say enough about the talent and commitment of the people who made these accomplishments possible, under some of the most difficult and challenging times our industry has experienced for some time.
- My heartfelt gratitude and sincerest thanks go out to all our teams on one amazing year…. and I’m confident that there is more to come!”
Ricard noted that FY22 was a record year in many respects, adding that sales broke the symbolic milestone of €10 billion with its 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’,”
Ricard said that while the world is faced with a challenging and volatile environment, he is confident the company’s unique advantages and the rapid deployment of its digital transformation will enable the company to deliver FY23 to FY25 medium-term financial framework.
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- Read his comments from his LinkedIn Handle.
What you should know
- Some of Pernod Ricard’s brands including Jameson Whisky, Absolut Vodka, and Martell Cognac have been very popular amongst drinkers in many Nigerian bars, restaurants, and clubs in the last few years.