In This Article:
Q3 FY25 organic net sales decline -3% (-3% reported)
YTD organic net sales decline -4% (-5% reported)
PARIS, April 17, 2025--(BUSINESS WIRE)--Regulatory News:
Pernod Ricard (Paris:RI):
Press Release – Paris, 17 April 2025
We report a resilient Net Sales performance in a global macroeconomic and geopolitical environment which remains challenging and very fluid with regards to tariffs. The quarterly sales are impacted by some phasing technicalities that will reverse in Q4: namely in India, the impact of new customs clearance procedures and temporary production interruption in one major state, which is now resolved; in Global Travel Retail, a very high comparison base; and in some markets, the impact of the later Easter.
Our balanced and broad-based geographic breadth and our diversified portfolio remain key in mitigating some of the impacts caused by the challenging environment. As previously indicated, we are continuously adapting our resources with agility, deploying our operational efficiencies and steering the organisation to fuel our future growth and optimizing our cash generation.
FY25 Q3 Net Sales €2,278m an organic decline of -3%, and -3% reported
FY25 9M Net Sales €8,454m, an organic decline of -4% and -5% reported, with unfavourable Foreign Exchange impact of -€145m, and a favourable Group Structure of +€3m
9M Volumes grew by +1%, while price/mix effect declined by -5% driven by a strongly negative market mix
By regions, (Q3/YTD)
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Americas +3% / -2%,
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USA +2% / -5%,
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The US Spirits market remains broadly stable
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Q3 Organic Net Sales are ahead of sell-out supported by wholesalers’ orders ahead of tariff announcements
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Our ongoing focus on execution is illustrated by a steadily improving Sell-Out gap to market, on both volume and value
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Improving performances on Jameson, Absolut, notably boosted by the success of Absolut Ocean Spray RTD and Kahlua
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Successful innovation launches notably within the Jameson, Absolut and Kahlua brand families
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Canada: strong growth YTD, driven by Bumbu, Absolut and Jameson
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Brazil: continued solid momentum in Q3, with growth for Ballantine’s, Absolut and Chivas Regal
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Europe -7% / -3%,
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France solid growth YTD, driven by Ballantine’s
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Spain soft performance, impacted by the later Easter timing
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Germany declines in an ongoing challenged macroeconomic context and lapping a high comparable basis
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Poland broadly stable YTD
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Asia-RoW -6% / -6%,
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India +1% / +5%,
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Dynamic growth YTD with strong underlying market demand and continuing premiumisation trends
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A softer Q3 sales impacted by phasing technicalities, due in part to the implementation of new customs clearance procedures affecting sales of imported Spirits, and a temporary production interruption in a major state which is now resolved
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Ongoing strong growth of Jameson, and good performance of Ballantine’s and Royal Salute
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Good growth on Seagram’s whiskies, notably Royal Stag
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Strong momentum expected in Q4, including catch-up from Q3
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China -5% / -22%,
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Macro context remains challenging
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Sharp decline on Martell, very strong ongoing growth on Absolut, Olmeca and Jameson
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As expected, CNY was very soft
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Q3 sales benefitted from cycling a favourable comparison basis
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Price increase of mid-single-digit for Martell was taken in February
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Japan strong momentum YTD, with Perrier-Jouet in double-digit growth
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Korea continuing weakness in an environment of political disruption
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Global Travel Retail -31% / -17%,
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As expected, sharp decline driven by suspension of the duty-free regime on Cognac in China Travel Retail, compounded with a high comparison basis in Q3
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Continued growth in Europe, the Americas continue to enjoy good travellers’ numbers and growth from cruises
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