PERNOD RICARD - 2018-2019 Universal registration document

5.

MANAGEMENT REPORT Analysis of business activity and results

Profit fromrecurring operations

5.2.1.2

30.06.2018 Restated

Group € million Net sales

30.06.2019

Reported growth

Organic growth  (1)

8,722 5,289

9,182

460

5%

512

6%

Gross margin after logistics expenses Advertising and promotion expenses

5,648

359

7%

346 (82)

7%

(1,429) 3,860 2,358

(1,512)

(83)

6%

6%

Contribution after advertising & promotion expenses PROFIT FROMRECURRINGOPERATIONS

4,137

277

7%

265

7%

2,581

223

9%

207

9%

Organic growth is defined on page 152 (1)

30.06.2018 Restated

America € million Net sales

30.06.2019

Reported growth

Organic growth  (1)

2,485 1,629 (495) 1,134

2,545 1,698 (504) 1,193

60 69 (9)

2% 4% 2% 5% 7%

40 10 (5)

2% 1% 1% 0% 0%

Gross margin after logistics expenses Advertising and promotion expenses

Contribution after advertising & promotion expenses PROFIT FROMRECURRINGOPERATIONS

59

5

735

785

50

(1)

Organic growth is defined on page 152 (1)

30.06.2018 Restated

Asia/Rest of World € million

30.06.2019

Reported growth

Organic growth  (1)

Net sales

3,564 2,030 (528) 1,502 996

3,965 2,308 (592) 1,716 1,179

401 278 (64)

11% 14% 12% 14%

443 301 (68)

12% 15% 13% 15%

Gross margin after logistics expenses Advertising and promotion expenses

Contribution after advertising & promotion expenses PROFIT FROMRECURRINGOPERATIONS

213

233

183

18% 195

19%

Organic growth is defined on page 152 (1)

30.06.2018 Restated

Europe € million Net sales

30.06.2019

Reported growth

Organic growth  (1)

2,674 1,630 (406) 1,224

2,672 1,643 (415) 1,228

(1)

0% 1% 2% 0%

28 36

1% 2% 2% 2%

Gross margin after logistics expenses Advertising and promotion expenses

13

(9)

(10)

Contribution after advertising & promotion expenses PROFIT FROMRECURRINGOPERATIONS

4

26 13

626

617

(10)

-2%

2%

Organic growth is defined on page 152 (1)

147

2018-2019

PERNOD RICARD UNIVERSAL REGISTRATIONDOCUMENT