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Pernod Ricard (RI) investor relations material
Pernod Ricard AGM 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Opening remarks and agenda
The assembly was convened in accordance with legal requirements, with a provisional quorum of 80.92% and a final quorum of 81.23% representing over 204 million shares.
Chairman & CEO Alexandre Ricard opened the meeting, with attendance from the Board, Lead Independent Director, EVP Finance & Tech, and Statutory Auditor Deloitte & Associés.
The agenda included the management report, financial statements, board updates, and voting on 25 resolutions.
Financial performance review
Net sales reached €10,959 million, down 3% organically and 5.5% reported, mainly due to declines in China, the US, and global travel retail.
Organic operational margin increased by 64 basis points, with net profit up 10% to €1,626 million and free cash flow up 18% to €1,133 million.
Investments in CapEx and strategic stocks reached €1.2 billion, with net debt reduced to €10,727 million.
The group maintained or gained market share in 12 of its 17 main markets, with strong performances in India, Japan, Nigeria, Turkey, and South Africa.
Portfolio management included disposals of non-core assets and focus on premiumisation.
Board and executive committee updates
The board consists of 14 members, including six independents and two employee representatives, with balanced gender and nationality representation.
Two new independent directors, Albert Baladi and Jean Lemaire, were appointed, replacing Nami Tasha.
Jean-Etienne Gourgue was welcomed as Executive President in charge of brands.
Board comprised of independent, employee, and non-French directors, with diverse skills in management, finance, governance, and innovation.
Lead Independent Director engaged with top investors and led Board reviews.
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Frequently asked questions
French Beverage Group
Pernod Ricard is a French beverage company specializing in the production and distribution of wines and spirits. The company has a diverse product portfolio that includes a range of brandy, champagne, distilled spirits, and much more. It owns several famous brands including Absolut Vodka, Jameson, Ballantines, Beefeater, Kahlua, and many, many more. In total, the company owns over 230 different brands of alcoholic beverages, with operations stretching all over the world. It is headquartered in Paris, France, and its shares are listed on the Euronext Paris.
Aniseed Aperitifs
The origins of the modern form of the company can be traced back to the creation of two separate companies: Pernod and Ricard. Pernod was founded in 1805 by Henri-Louis Pernod, who began distilling absinthe in Pontarlier, France. Ricard on the other hand was established in 1932 by Paul Ricard, who produced a new anise-flavored drink in the form of traditional pastis. Ricard became the first to commercialize pastis, promoting it as "the true pastis of Marseille."
However, the story of Pernod Ricard as we know it today began in 1975 when the two producers joined forces through a merger. The two companies had been fierce competitors, but the merger aimed to solidify the market positions of the country’s largest anise aperitif producers, while also setting the stage for further growth through acquisitions.
Growth Through Acquisitions
Ever since the initial merger between the two legacy companies, Pernod Ricard has been focused on growing through acquisitions. Continuous additions and acquisitions into the business over the years have seen the company move far away from its roots in aniseed aperitifs to stretch across a wide spectrum of spirits and wines. Pernod Ricard has grown into one of the largest alcoholic beverage groups in the world, together with other public companies such as Diageo and Anheuser-Busch.
Further reading: Pernod Ricard's Acquisition Journey
A Vast Array of Brands
Pernod Ricard owns a diverse portfolio of alcoholic beverages, encompassing a wide range of spirits such as whiskies, vodkas, rums, gins, cognacs, liqueurs, as well as various producers of wine. Notably, the company does not own any beer producers but instead focuses on its core areas of expertise.
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