PERNOD-RICARD_REGISTRATION_DOCUMENT_2017-2018
4
MANAGEMENT REPORT ANALYSIS OF BUSINESS ACTIVITY AND RESULTS
Asia/Rest of World € million
30.06.2018
30.06.2017
Reported growth
Organic growth*
Net sales
3,568 2,102 (618) 1,484 1,000
3,648 2,164 (662) 1,502
80 62
2% 3% 7% 1% 0%
324 207 (82) 125
9%
Gross margin after logistics expenses Advertising and promotion expenses
10% 13%
(44)
Contribution after advertising & promotion expenses
18 (4)
8% 7%
PROFIT FROM RECURRING OPERATIONS
996
74
*
Organic growth is defined on page 137.
Europe € million
30.06.2018
30.06.2017
Reported growth
Organic growth*
Net sales
2,781 1,710 (522) 1,188
2,792 1,749 (525) 1,224
11 39 (3) 36 22
0% 2% 1% 3% 4%
50 46 (9) 36 26
2% 3% 2% 3% 4%
Gross margin after logistics expenses Advertising and promotion expenses
Contribution after advertising & promotion expenses
PROFIT FROM RECURRING OPERATIONS
604
626
*
Organic growth is defined on page 137.
Organic net sales growth of Strategic International Brands 4.2.2
Organic growth* in net sales Volume growth
Volume 30.06.2018
Volume 30.06.2017
Price/mix
In millions of 9-litre cases
Absolut
11.2
11.4
2% 5% 5%
2% 5% 5%
0% 0% 0% 1% 0% 1% 0% 2% 0% 2% 6% 3% -1% -2%
Chivas Regal Ballantine’s
4.2 6.7 4.8 6.5 4.3 3.6 2.8 2.1 1.0 0.2 0.8 0.3
4.4 7.1 4.5 7.3 4.6 3.8 2.9 2.4 1.1 0.2 0.8 0.3
Ricard
-6% 14%
-5% 12%
Jameson
Havana Club
6% 6% 4%
5% 5% 4%
Malibu
Beefeater
Martell
14%
12%
The Glenlivet Royal Salute
5%
5% 1%
-2%
Mumm
1% 6% 7%
-1%
Perrier-Jouët
1% 4%
STRATEGIC INTERNATIONAL BRANDS
48.6
50.7
*
Organic growth is defined on page 137.
Full-year sales were €8,987 million, representing reported decline of -0.3%, as a result of: organic growth of +6.0%, an acceleration vs. FY17 driven mainly by ● Asia; a currency effect of €(530) million over the year, driven primarily by ● the weaker US Dollar, Indian Rupee and Chinese Renminbi against the Euro; a negative scope effect of €(26) million. ● FY18 Sales growth was broad-based and delivered by all Regions: Americas continued their dynamism, up 6%, with USA now growing ● broadly in line with the market (+4%). Within the US, Jameson continued its very strong double-digit growth (now c.3.5m cases),
Malibu outperformed its category, The Glenlivet stabilised following its transition year, Martell grew very strongly and gained share, the tequila brands (Avion and Altos) as well as Del Maguey continued their strong dynamism, but Absolut remained in decline in a very difficult Vodka category. Sales in the Americas excluding the US grew +10%, thanks to Travel Retail, Mexico and Brazil; Asia/Rest of World accelerated, up 9%, thanks to China, India and ● Travel Retail. China confirmed a strong return to growth (+17%) driven by Martell (+17%), Chivas’ return to growth and strong double-digit growth from Premium Brands. India had a strong performance across the portfolio (+14%), enhanced by a favourable basis of comparison. Travel retail’s growth accelerated vs. FY17 (+8%) driven by Strategic International Brands, in particular Martell;
133
PERNOD RICARD REGISTRATION DOCUMENT 2017/2018
Made with FlippingBook - Online catalogs