Pernod Ricard, a global producer of wines and spirits, records an 81% growth in sales in Nigeria

Pernod Ricard, the Absolut Company achieved record full-year 2022 sales with market share gains in most markets, while leveraging its broad portfolio and geographic reach and delivering increases prices in all markets.

In emerging markets such as Nigeria, the global wine and spirits manufacturer recorded incredible sales growth of +81%.

Sales were driven by a strong recovery in On-trade, the resilience of Off-trade and a rapid rebound in Travel Retail.

What the company says

  • Alexandre Ricard, CEO of the company culminating in the results, said: “In support of our ongoing mission at Pernod Ricard to ‘unleash the magic of human connection by bringing good times to a good place’, we today shared our record full year results for the year ended June 2022. .
  • I would like to highlight a few key figures which I believe represent the incredible shared success of my 19,000 colleagues around the world.
  • Together, we reached the symbolic double digit figure of our turnover, with for the first time more than 10 billion euros in net turnover. In addition, two financial milestones were reached, with our current operating profit at 3 billion euros and our highest cash flow at 1.8 billion euros.
  • And speaking of milestones, Absolut (The Absolut Company) beat volume sales of 12 million cases worldwide, Jameson (Irish Distillers) 10 million and Ballantines (Chivas Brothers) 9 million. Indeed, our splendid portfolio of Scotch Whiskeys increased by 25% and Martell (Martell Mumm Perrier-Jouët) by 7%. These are just a few examples of the record sales of so many brands in our unparalleled portfolio.
  • I am extremely proud to say that we have been able to ring the “double-digit growth” bell several times this year, in the Asia/Rest of World and Europe markets, both of which are growing at an impressive 19% , with emerging markets such as Nigeria showing incredible sales growth of +81%, to name a few. In terms of our must-have markets, the US recorded +8%, China +5% and India +26% success, while Global Travel Retail also rebounded impressively as many parts of the world have reopened after COVID.
  • We have achieved all of these milestones while continuing to make real and tangible progress in achieving all aspects of our “Good Times from a Good Place” S&R strategic roadmap.
  • One final figure is worth mentioning here: 2.1 billion. That’s the number of bottles we produced and distributed last year globally from our 240 brands. That’s an impressive number, but it doesn’t say enough about the talent and commitment of the people who made these achievements possible, in some of the toughest and toughest times our industry has seen in quite some time. time.
  • My deepest gratitude and heartfelt thanks go out to all of our teams for this amazing year…. and I’m sure there’s more to come!

Ricard noted that FY22 was a banner year in many respects, adding that sales passed the symbolic milestone of 10 billion euros with its fastest growth rate in more than 30 years, generating a profit record 3 billion euros in recurring transactions with a record operating margin of 28.3%.

  • “The performance of FY22 was also very well balanced. Growth was driven by all regions, categories, price ranges and channels, with a comparable contribution from mature and emerging markets.
  • “Most importantly, our performance has been sustainable thanks to the real progress we have made in implementing our ‘Good times from a good place’ strategic roadmap”,

Ricard said that although the world is facing a difficult and volatile environment, he is confident that the unique advantages of the company and the rapid deployment of its digital transformation will allow the company to provide a medium-term financial framework for exercises 23 to 25.

The news continues after this announcement

What you should know

  • Some of Pernod Ricard’s brands, including Jameson Whisky, Absolut Vodka and Martell Cognac, have been very popular among drinkers in many Nigerian bars, restaurants and clubs in recent years.

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