Press releases
15/03/2001 : Pernod Ricard - Dividend : 1.6 euro
Paris, 15th March 2001 - The board of directors of Pernod Ricard, at their
meeting on 15th March, 2001 approved the accounts and agreed to propose payment
of a dividend of 1.6 euro to shareholders at the Annual General Meeting on 3rd
May 2001.
Pernod Ricard today announced operating profits of euro 421 million +13% for the 2000 fiscal year and profits before tax of euro 369 million +8.4%. Net earnings (Group share) were euro 195 million, 8.5% below the previous year. These results take into account exceptional items linked to the reorganisation of processed fruit activities in France and in Europe, the Group's withdrawal from China, and a write down of the investment in Saresco. Sales over the period, before taxes and duties, amounted to euro 4.4 billion, growing +22%.
2000 was marked by an excellent performance in the spirits and wine sector, especially internationally for which operating profits grew +15% to euro 302 million. The Group's 10 key brands, which progressed overall by +6% in volume terms, contributed 70% of the operating profits from the spirits and wine sector.
'Our profits in spirits and wine have grown 11% per year over the last 3 years', underlined Patrick Ricard, President of the Group. 'Growth rate is accelerating and as such reinforces our commitment to concentrate on our core business', he added.
Other than the Pernod Ricard / Diageo joint bid for the acquisition of the Seagram spirits and wine activity, highlights in 2000 were the Orangina-Pampryl merger in France, the creation of the Agros-Fortuna business in Poland and the withdrawal from the joint ventures with Diageo in 'Heublein do Brasil' and 'Boulevard Distillers' (USA). 2000 also saw the continuation of BWG's acquisitions in the distribution sector and the integration of wodka Wyborowa in the Group's international network outside of Poland. Early in 2001, the Group began its disengagement from the fruit preparation sector with the sale of Italcanditi.
The year 2001, which will be strongly marked by the integration of the Seagram brands and activities, has already seen an excellent start to the Group's spirits and wine sales.
For further information, please contact :
Alain-Serge Delaitte 33(0)1 40 76 77 12
Or consult our website at www.pernod-ricard.fr
ANNEXES
Financial Tables
Pernod Ricard today announced operating profits of euro 421 million +13% for the 2000 fiscal year and profits before tax of euro 369 million +8.4%. Net earnings (Group share) were euro 195 million, 8.5% below the previous year. These results take into account exceptional items linked to the reorganisation of processed fruit activities in France and in Europe, the Group's withdrawal from China, and a write down of the investment in Saresco. Sales over the period, before taxes and duties, amounted to euro 4.4 billion, growing +22%.
2000 was marked by an excellent performance in the spirits and wine sector, especially internationally for which operating profits grew +15% to euro 302 million. The Group's 10 key brands, which progressed overall by +6% in volume terms, contributed 70% of the operating profits from the spirits and wine sector.
'Our profits in spirits and wine have grown 11% per year over the last 3 years', underlined Patrick Ricard, President of the Group. 'Growth rate is accelerating and as such reinforces our commitment to concentrate on our core business', he added.
Other than the Pernod Ricard / Diageo joint bid for the acquisition of the Seagram spirits and wine activity, highlights in 2000 were the Orangina-Pampryl merger in France, the creation of the Agros-Fortuna business in Poland and the withdrawal from the joint ventures with Diageo in 'Heublein do Brasil' and 'Boulevard Distillers' (USA). 2000 also saw the continuation of BWG's acquisitions in the distribution sector and the integration of wodka Wyborowa in the Group's international network outside of Poland. Early in 2001, the Group began its disengagement from the fruit preparation sector with the sale of Italcanditi.
The year 2001, which will be strongly marked by the integration of the Seagram brands and activities, has already seen an excellent start to the Group's spirits and wine sales.
For further information, please contact :
Alain-Serge Delaitte 33(0)1 40 76 77 12
Or consult our website at www.pernod-ricard.fr
ANNEXES
Financial Tables
| OPERATING PROFITS | ||
| euro Millions | Variation 1999/2000 | |
| Operating Profits 1999 | 372,3 | |
| Organic growth | 26,2 | + 7,0% |
| Exchange rate variations | 13,9 | + 3,7% |
| Perimeter variations | 8,7 | + 2,3% |
| Operating Profits 2000 | 421,1 | + 13,1% |
| PRETAX PROFITS | ||
| euro Millions | Variation 1999/2000 | |
| Pre-tax profits 1999 | 340,2 | |
| Organic growth | 21,8 | + 6,4% |
| Exchange rate variations | 11,5 | + 3,4% |
| Perimeter variations | -4,6 | - 1,4% |
| Pre-tax profits 2000 | 368,9 | + 8,4% |
| SUMMARY TRADING STATEMENT | |||
| 2000 euro Millions |
1999 euro Millions |
Variation 1999/2000 |
|
| Net sales excluding tax and duty | 4 382,0 | 3 590,3 | + 22,0% |
| Gross margin | 2088,7 | 1797,5 | + 16,2% |
| Marketing and distribution costs | -996,9 | -863,8 | + 15,4% |
| Production costs and overheads | -670,7 | -561,4 | + 19,5% |
| Operating Profits | 421,1 | 372,3 | + 13,1% |
| Net interest expenses | -52,2 | -32,1 | + 62,4% |
| Pre-tax profit before exceptional items | 368,9 | 340,2 | + 8,4% |
| SUMMARY PROFIT STATEMENT | |||
| 2000 Millions d'euros |
1999 Millions d'euros |
Variation 1999/2000 |
|
| Pre-tax profit before exceptional items | 368,9 | 340,2 | + 8,4% |
| Exceptional items | -53,5 | - 8,2 | N/A |
| Income taxes | -97,2 | -92,8 | + 4,7% |
| Interest in earnings of equity companies | 2,1 | 2,3 | - 6,6% |
| Amortisation of goodwill | -20,4 | -21,1 | - 3,4% |
| Net earnings | 200,0 | 220,3 | - 9,3% |
| Minority interests | 4,9 | 7,1 | - 30,5% |
| Net earnings (Group share) | 195,0 | 213,2 | - 8,5% |
| OPERATING PROFIT BY SECTOR | |||||
| 2000 euro Million |
1999 euro Million |
Variation 1999/2000 |
|||
| Spirits & Wine | 301,9 | 72% | 262,5 | 71% | + 15,0% |
| Fruit processing | 74,5 | 18% | 74,7 | 20% | - 0,3% |
| Distribution | 44,7 | 10% | 35,0 | 9% | + 27,6% |
| Group | 421,1 | 100% | 372,3 | 100% | + 13,1% |
| OPERATING PROFIT BY MARKET REGION | |||||
| 2000 euro Million |
1999 euro Million |
Evolution 99 - 00 |
|||
| France | 95,3 | 32% | 93,4 | 35% | + 2,1% |
| Rest of Europe | 167,6 | 55% | 149,1 | 57% | + 12,4% |
| Rest of the world | 39,0 | 13% | 20,0 | 8% | + 94,6% |
| Group | 301,9 | 100% | 262,5 | 100% | + 15,0% |
| SALES BY SECTOR | |||||
| 2000 euro Million |
1999 euro Million |
Evolution 99 - 00 |
|||
| Spirits & Wine | 1 759,6 | 40% | 1 568,8 | 44% | + 12,2% |
| Fruit processing | 1 360,0 | 31% | 1 084,0 | 30% | + 25,5% |
| Distribution | 1 262,5 | 29% | 937,6 | 26% | + 34,6% |
| Group | 4 382,0 | 100% | 3 590,3 | 100% | + 22,0% |
| OPERATING PROFIT MARGIN BY ACTIVITY | |||||
| 2000 euro Million |
1999 euro Million |
||||
| Spirits & Wine | 17,2% | 16,7% | |||
| Fruit processing | 5,5% | 6,9% | |||
| Distribution | 3,5% | 3,7% | |||
| Group | 9,6% | 10,4% | |||
