Olly Wehring

Focus - Pernod Ricard's FY Performance by Region, Brand

By | 29 August 2013

Pernod Ricard released its full-year results today

Pernod Ricard released its full-year results today

Earlier today (29 August), Pernod Ricard released its results for the 2012-13 fiscal year. Here's a closer look at the company's performance in the 12 months to the end of June.


Asia/Rest of the World - which accounts for 40% of total FY sales - delivered sales growth of 7% year-on-year, hitting EUR3.43bn (US$4.5bn).

  • China was up by 9%, which represented slower growth than a year earlier. While Martell, Jacob's Creek and Absolut delivered double-digit growth in the country, Scotch and "the most exclusive" spirits suffered from a challenging year.
  • India saw Pernod's local whiskies deliver a sales lift of 16%, with the company's top 14 brands rising collectively by 17%.
  • Travel retail, and Africa/Middle East both posted double-digit sales increases in the year.
  • South Korea and Thailand were both described as challenging, the former due to a decline of the traditional on-trade, while the latter saw the 100 Pipers brand suffer.

The Americas - 27% of sales - reported a 7% lift in sales, which came in at EUR2.32bn.

  • The US rose by 8%, driven by similar collective growth from Pernod's top 14 brands. Top performers were Jameson (+26%) and The Glenlivet (+22%).
  • Brazil proved a struggle in the fiscal year, due to a "more challenging macro-economic environment" and the application of value added tax reform in the period. Mexico was up by 5% while travel retail in the region increased by 7%.

Europe, excluding France - 25% of total sales - was a game of two geographical halves. Sales for the region as a whole were flat in the year, at EUR2.13bn.

  • Eastern Europe jumped by 11% year-on-year, predominantly thanks to Russia's 16% sales leap. Poland posted 2% growth, while Ukraine "continued to grow, despite a more challenging macro-economic environment.
  • Western Europe, however, saw sales slide by 3% with Southern Europe and Spain in particular, struggle in the 12-month period. The UK reported "quasi-stability" but Germany and travel retail operations in the region were credited with "good performances.

France - 8% of group sales - continued to prove problematic, with sales in the year falling by 7% to EUR695m. The recessionary environment has been exacerbated by a steep climb in excise duty that was introduced at the beginning of 2012. The company claimed, however, that its underlying performance is "in line with a declining spirits market" overall.


2012-13 saw several brands in Pernod's portfolio hit record volumes.

  • The company highlighted Jameson, which reported 17% value growth and a 10% lift in volumes. The Irish whiskey brand is now the second largest contributor to group growth.
  • Also hitting new highs was Absolut, with sales rising by 5% and volumes up by 2%.
  • Martell also set a new record, with sales jumping by 15% on a 5% lift in volumes.
  • The Glenlivet achieved record growth, jumping by 22% in value and by 18% in volume.
  • Elsewhere, Chivas Regal sales rose by 5% on flat volumes, but Ballantine's struggled - sales fell by 6% in the year with volumes slipping by 4%.
  • On the Champagne front, Mumm reported decreasing sales (-4%) and volumes (-5%), but Perrier Jouet - also a record breaker - saw sales increase by 7% on a 1% lift in volumes.
  • Collectively, Pernod's priority premium wine brands - Jacob's Creek, Brancott Estate, Campo Viejo and Graffigna - reported 2% sales growth as volumes dipped by 1%.

Expert analysis

Pernod Ricard SA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investment Report

MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage.

Sectors: Company results, Emerging markets – BRIC, Spirits, Wine

Companies: Pernod Ricard, Absolut, Ballantine’s, Ricard, Perrier, Chivas Regal, Jameson, Martell, The Glenlivet, Jacob’s Creek

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