- Pernod Ricard press release ( OTCPK:PDRDF ): 1H GAAP EPS of €6.77.
- Revenue of €7.12B (+19.5% Y/Y), +12% organic sales growth.
- Solid cash generation with recurring free cash flow at c. €1B, -28% vs H1 FY22.
- Net debt increased by €1,131M vs. 30 June 2022 to €9,789M.
- The Net Debt/EBITDA ratio at average rate was 2.6x at 31 December 2022.
- Outlook: Dynamic, broad-based Net Sales growth albeit in a normalising environment.
- Continuing focus on revenue growth management and operational efficiencies to offset cost pressure, in high inflationary environment.
- A&P ratio at c. 16% of Net Sales and continuing disciplined investments in structure.
- Sustaining Operating margin.
- Accelerating investments in CAPEX and strategic inventories, thanks to solid cash generation.
- Confirming €750m share buy-back for FY23 with a new €300m tranche to be launched imminently.
- Positive currency effect expected.
For further details see:
Pernod Ricard GAAP EPS of €6.77, revenue of €7.12B; issues FY23 outlook