Pernod Ricard celebrates fastest growth in over 30 years

Pernod Ricard has released its FY22 results, with organic sales growth of 17% totally €10.7million, with sales surging by double digits across each of its regions and spirit categories.

All spirits categories delivered strong double digit growth:

  • Strategic International Brands were up 18%, with excellent growth across all regions led by Jameson, Chivas Regal, Ballantine’s, Absolut and Martell
  • Strategic Local Brands were also up 18%, with very strong growth notably led by Seagram’s Indian whiskies, Kahlua, Olmeca and Seagram’s Gin
  • Specialty Brands were up 24%, with continued very rapid development led by American whiskies, gins and agave brands. Specialty Brands doubling their weight in sales vs. FY19
  • Strategic Wines were down 4%, with overall soft performance in particular due to New Zealand lower harvest.

The company benefited from strong recovery in the on-premise, resilience in the off-premise and rapid rebound in travel retail.

Among the brands that saw the biggest organic net growth were Chivas Regal (29%), Beefeater (35%) and Perrier-Jouët (32%).

Chairman and Chief Executive Officer Alexandre Ricard 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’.

“There has definitely been a newfound appreciation for conviviality since the COVID-19 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.”

Pernod Ricard announces €250M investment plan for new distillery in Midleton

Irish Distillers, an affiliate of Pernod Ricard, is investing €250 million to build a new distillery in Midleton in order meet demand and ensure the necessary future production capacity for its portfolio of Irish whiskeys globally.

The investment will support the delivery of a new, purpose-built, state-of-the-art distillery which is expected to be operational in 2025.

The distillery will produce some of the world’s most well-known and successful Irish whiskeys, including Jameson, Powers, Redbreast, Midleton Very Rare, the Spot family and Method and Madness.

The new distillery will be situated on a 55-acre site adjacent and connected to the world-famous Midleton Distillery.

Nodjame Fouad, Chairman and CEO at Irish Distillers, said: “We are immensely proud of the continued strong performance of our full portfolio of Irish whiskeys, led by Jameson which sold over 10 million cases in our 2022 financial year. The new distillery will be a beautiful, landmark development with sustainability at its core and will serve to further demonstrate our commitment to Midleton and East Cork, generating more jobs for the region and further driving recognition of Midleton Distillery as the beating heart of Irish whiskey.”

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Categories: Business