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Pernod Ricard (RI) investor relations material
Pernod Ricard AGM 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.AGM 2025 summary27 Oct, 2025
Opening remarks and agenda
The assembly was convened in accordance with legal requirements, with a strong shareholder turnout and a declared quorum of 80.92% at the start, later finalized at 81.23%.
Chairman & CEO Alexandre Ricard opened the meeting, with attendance from the Board, Lead Independent Director, EVP Finance & Tech, and Statutory Auditor Deloitte & Associés.
The agenda included the management report, financial performance, board updates, shareholder proposals, governance, and voting on 25 resolutions.
Financial performance review
Net sales reached €10,959 million, down 3% organically and 5.5% reported, with declines in China, the US, and global travel retail, but resilience in other markets.
Net profit attributable to the group rose 10% to €1,626 million, and free cash flow increased by 18% to €1,133 million.
Operational margin improved by 64 basis points organically, with cost discipline and efficiency programs delivering €900 million in savings.
Investments in CapEx and strategic stocks normalized after a peak, with future investments planned below €900 million.
Net debt reduced by €224 million, with a net debt/EBITDA ratio of 3.3x, impacted by foreign exchange rates.
Board and executive committee updates
The Board consists of 14 members, including two new independent nominees, Albert Baladi and Jean Lemière, both bringing significant international and industry experience.
Board comprised of independent, employee, and non-French directors, with diverse skills in management, finance, governance, and innovation.
The Board maintained a 97% attendance rate, with a balanced gender and nationality representation.
Executive Committee leadership changes included the departure of Philippe Guétin and the appointment of Jean Etienne Gourgue as Vice President Executive President in charge of Brands.
Lead Independent Director engaged with top investors and led Board reviews.
Plan for China & US market recovery?
Detail FY26-29 efficiency program impact.
Impact of recent portfolio disposals on strategy?
What drives H2 organic revenue growth?
Outline key portfolio management priorities.
How to mitigate activist investor pressure?
How will Pernod Ricard reverse US/China sales decline?
What is the strategy for new product segments?
How does Pernod Ricard manage activist funds?
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Next Pernod Ricard earnings date
H1 202619 Feb, 2026
Next Pernod Ricard earnings date
H1 202619 Feb, 2026
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Frequently asked questions
French Beverage Group
Pernod Ricard is a French beverage company specializing in the production and distribution of wines and spirits. The company has a diverse product portfolio that includes a range of brandy, champagne, distilled spirits, and much more. It owns several famous brands including Absolut Vodka, Jameson, Ballantines, Beefeater, Kahlua, and many, many more. In total, the company owns over 230 different brands of alcoholic beverages, with operations stretching all over the world. It is headquartered in Paris, France, and its shares are listed on the Euronext Paris.
Aniseed Aperitifs
The origins of the modern form of the company can be traced back to the creation of two separate companies: Pernod and Ricard. Pernod was founded in 1805 by Henri-Louis Pernod, who began distilling absinthe in Pontarlier, France. Ricard on the other hand was established in 1932 by Paul Ricard, who produced a new anise-flavored drink in the form of traditional pastis. Ricard became the first to commercialize pastis, promoting it as "the true pastis of Marseille."
However, the story of Pernod Ricard as we know it today began in 1975 when the two producers joined forces through a merger. The two companies had been fierce competitors, but the merger aimed to solidify the market positions of the country’s largest anise aperitif producers, while also setting the stage for further growth through acquisitions.
Growth Through Acquisitions
Ever since the initial merger between the two legacy companies, Pernod Ricard has been focused on growing through acquisitions. Continuous additions and acquisitions into the business over the years have seen the company move far away from its roots in aniseed aperitifs to stretch across a wide spectrum of spirits and wines. Pernod Ricard has grown into one of the largest alcoholic beverage groups in the world, together with other public companies such as Diageo and Anheuser-Busch.
Further reading: Pernod Ricard's Acquisition Journey
A Vast Array of Brands
Pernod Ricard owns a diverse portfolio of alcoholic beverages, encompassing a wide range of spirits such as whiskies, vodkas, rums, gins, cognacs, liqueurs, as well as various producers of wine. Notably, the company does not own any beer producers but instead focuses on its core areas of expertise.
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