PERNOD RICARD - 2018-2019 Universal registration document
6.
CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements
Movements in the year
Foreign currency gains and losses
Change in gross value
Change in impairment
Other movements 30.06.2019
30.06.2018
€ million
Rawmaterials
136
2
- - - - -
0
2
140
Work-in-progress Goods in inventory Finished products GROSS VALUE Work-in-progress Goods in inventory Finished products IMPAIRMENT Rawmaterials
4,614
269
(15)
9
4,877
467 300
38
2
(2)
505 280
(23) 286
0
3
5,517
(13)
11
5,802
(9) (11) (13) (13)
- - - - -
(1)
0 0 0 0 0
- -
(10) (10) (13) (13)
1
0 0
0 0 0
(45)
(1) (1)
(46)
NET INVENTORIES 5,756 At 30 June 2019, ageing inventories intended mainly for use in whisky and cognac production accounted for 78% of work-in-progress. Pernod Ricard is not significantly dependent on its suppliers. 5,472 286 (13) 11
Trade receivables and other operating receivables Note 4.5
Trade receivables and other operating receivables are recognised nominal value. Provisions for impairment are recognised in line initially at their fair value, which usually corresponds to their with the losses expected over the life of the receivable.
The following tables break down trade receivables and other operating receivables as of 30 June 2018 and 30 June 2019 by due date:
Due in respect of the following terms
Net carrying amount
181 to 360 days > 360 days
Not due
< 30 days 31 to 90 days 91 to 180 days
€ million
Net carrying amounts Trade receivables and other operating receivables as of 30.06.2018
1,122 (60)
884 (12)
137 (1)
53
27 (1)
5
16
O/w impairment
(4)
(2)
(40)
Trade receivables and other operating receivables as of 30.06.2019
1,226
985 (13)
122 (1)
47
23
14
36
O/w impairment
(67)
(4)
(2)
(2)
(43)
Changes in the impairment of trade receivables and other operating receivables were as follows:
FY19
FY18
€ million
At 1 July
65
60
Allowances during the year Reversals during the year
13
12
(8) (7) (3) 60
(3) (2)
Used during the year
Foreign currency gains and losses
0
At 30 June
67
At 30 June 2019, there was no reason to question the creditworthiness of non-impaired past due receivables. More specifically, non-impaired receivables with due dates of over 12 months show no additional credit-related risk. There is no significant concentration of risks.
In FY18 and FY19 the Group continued to implement its programmes to sell the receivables of several affiliates. Receivables sold under these programmes totalled €610 million at 30 June 2018 and €674 million at 30 June 2019. As substantially all risks and rewards associated with the receivables were transferred, they were derecognised.
179
2018-2019
PERNOD RICARD UNIVERSAL REGISTRATIONDOCUMENT
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