PERNOD RICARD - 2018-2019 Universal registration document

7.

PERNOD RICARD SA FINANCIAL STATEMENTS Notes to the Pernod Ricard SA financial statements

a decline in the provision for foreign exchange losses of €8 million; — an increase in provisions relating to the coverage of — performance-based share and employee share ownership plans of €22 million; a €17 million increase in other provisions for risks. — During the period, borrowings increased by €107 million, due mainly to the revaluation of €(106) million in US dollar-denominated bonds.

The €148 million increase in operating debts is explained primarily by: the increase in other debts amounting to €120 million, of which — €100 million stem from an increase in the Pernod Ricard Finance current account, €24 million from reduced intra-group creditors’ liabilities and tax current accounts and €44 million from dividends to pay; the €17 million increase in trade payables; — the €11 million increase in tax and social security payables. — The deferred income and adjustment accounts of €494 million at 30 June 2019 comprise the €52 million increase in the value of unrealised foreign exchange gains compared with 30 June 2018.

Notes to the Pernod Ricard SA financial statements 7.5

Detailed contents for the notes

Accounting policies Note 1

Bank debt Note 13

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Intangible assets and property, Note 2 plant and equipment

Breakdown of corporate income tax Note 14

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Increases and decreases in future tax Note 15 liabilities

Financial assets Note 3

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Maturity of receivables and payables Note 4

Compensation Note 16

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Marketable securities Note 5

Operating income Note 17

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Prepaid expenses and deferred charges Note 6

Financial income and expenses Note 18

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Composition of share capital Note 7

Exceptional items Note 19

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Shareholders’ equity Note 8

Off-balance sheet commitments Note 20

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Provisions Note 9

Average headcount at 30 June 2019 Note 21

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Deferred income and adjustment Note 10 accounts

Affiliates and associates at 30 June 2019 Note 22

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Tax credit Note 23

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Accrued income and expenses Note 11

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Bonds Note 12

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Pernod Ricard SA is a French public limited company ( société anonyme ), subject to all laws governing commercial companies in France, and particularly to the provisions of the French Commercial Code. The Company is headquartered at 12, place des États-Unis, 75016 Paris and is listed on Euronext.

The balance sheet total for the financial year which ended 30 June 2019 was €15,899 million. The income statement for the year recorded a profit of €326 million. The financial year covered the 12-month period from 1 July 2018 to 30 June 2019.

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2018-2019

PERNOD RICARD UNIVERSAL REGISTRATIONDOCUMENT