Cash flow Pernod Ricard

Equities

RI

FR0000120693

Distillers & Wineries

Market Closed - Euronext Paris Other stock markets 16:38:38 13/09/2024 BST			5-day change	1st Jan Change
125.75 ^EUR	-2.75%		+2.11%	-21.28%

09-13	Campari plunges after CEO comments on weak quarter for sector	RE
09-12	PERNOD RICARD : Receives a Buy rating from Bank of America	ZD

86.ofxkB5bV-OTUXgqhcWkBqYIURoNZYiQL8grPJITS-c4.xasQffKSytKENUuXPCZz28d-ctBuDRZoql-iY-qdjvjnsjMq5qK1ta4HMg

Published financial data: PERNOD RICARD

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: June	2019	2020	2021	2022	2023
Revenues	9.18B	8.45B	8.82B	10.7B	12.14B
Total Revenues	9.18B	8.45B	8.82B	10.7B	12.14B
Cost of Goods Sold, Total	3.53B	3.36B	3.53B	4.23B	4.89B
Gross Profit	5.65B	5.09B	5.29B	6.47B	7.25B
Selling General & Admin Expenses, Total	3.07B	2.83B	2.89B	3.46B	3.91B
Other Operating Expenses, Total	3.07B	2.83B	2.89B	3.46B	3.91B
Operating Income	2.58B	2.26B	2.41B	3.01B	3.34B
Interest Expense, Total	-329M	-354M	-274M	-228M	-279M
Interest And Investment Income	32M	36M	36M	48M	7M
Net Interest Expenses	-297M	-318M	-238M	-180M	-272M
Income (Loss) On Equity Invest.	-	-	-4M	5M	-4M
Currency Exchange Gains (Loss)	2M	-19M	-37M	-20M	-30M
Other Non Operating Income (Expenses)	-11M	-30M	-8M	-25M	-9M
EBT, Excl. Unusual Items	2.27B	1.89B	2.12B	2.79B	3.02B
Restructuring Charges	-77M	-178M	-64M	-23M	-163M
Merger & Related Restructuring Charges	-29M	-16M	-50M	-13M	51M
Gain (Loss) On Sale Of Assets	-	24M	16M	5M	74M
Asset Writedown	-69M	-1.01B	-78M	-10M	-35M
Legal Settlements	-	-	-	-	-
Other Unusual Items	-31M	-109M	42M	-45M	-15M
EBT, Incl. Unusual Items	2.06B	608M	1.98B	2.71B	2.93B
Income Tax Expense	582M	258M	667M	676M	651M
Earnings From Continuing Operations	1.48B	350M	1.32B	2.03B	2.28B
Net Income to Company	1.48B	350M	1.32B	2.03B	2.28B
Minority Interest	-27M	-21M	-13M	-35M	-21M
Net Income - (IS)	1.46B	329M	1.3B	2B	2.26B
Net Income to Common Incl Extra Items	1.46B	329M	1.3B	2B	2.26B
Net Income to Common Excl. Extra Items	1.46B	329M	1.3B	2B	2.26B
Per Share Items
Net EPS - Basic	5.51	1.25	5	7.71	8.83
Basic EPS - Continuing Operations	5.51	1.25	5	7.71	8.83
Basic Weighted Average Shares Outstanding	264M	263M	261M	259M	256M
Net EPS - Diluted	5.48	1.24	4.99	7.69	8.81
Diluted EPS - Continuing Operations	5.48	1.24	4.99	7.69	8.81
Diluted Weighted Average Shares Outstanding	265M	264M	262M	260M	257M
Normalized Basic EPS	5.27	4.42	5.03	6.6	7.29
Normalized Diluted EPS	5.24	4.4	5.01	6.59	7.27
Dividend Per Share	3.12	2.66	3.12	4.12	4.7
Payout Ratio	44.33	258.05	53.95	41.38	47.39
American Depositary Receipts Ratio (ADR)	0.2	0.2	0.2	0.2	0.2
Supplemental Items
EBITDA	2.8B	2.49B	2.59B	3.14B	3.46B
EBITA	2.58B	2.26B	2.41B	3.01B	3.34B
EBIT	2.58B	2.26B	2.41B	3.01B	3.34B
Effective Tax Rate - (Ratio)	28.2	42.43	33.6	24.97	22.19
Total Current Taxes	483M	364M	425M	580M	624M
Total Deferred Taxes	99M	-106M	242M	97M	27M
Normalized Net Income	1.39B	1.16B	1.31B	1.71B	1.87B
Interest on Long-Term Debt	-	14M	13M	12M	12M
Non-Cash Pension Expense	32M	-16M	12M	7M	6M
Supplemental Operating Expense Items
Advertising Expense	1.51B	1.33B	1.39B	1.7B	1.94B
Selling and Marketing Expenses	1.51B	1.33B	1.39B	1.7B	1.94B
Stock-Based Comp., Other (Total)	40M	23M	28M	40M	44M
Total Stock-Based Compensation	40M	23M	28M	40M	44M

Fiscal Period: June	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	923M	1.94B	2.08B	2.53B	1.61B
Total Cash And Short Term Investments	923M	1.94B	2.08B	2.53B	1.61B
Accounts Receivable, Total	1.23B	906M	1.13B	1.39B	1.81B
Other Receivables	350M	359M	427M	446M	302M
Total Receivables	1.58B	1.26B	1.55B	1.83B	2.12B
Inventory	5.76B	6.17B	6.56B	7.37B	8.1B
Prepaid Expenses	85M	66M	88M	83M	122M
Other Current Assets, Total	40M	139M	58M	98M	58M
Total Current Assets	8.38B	9.57B	10.33B	11.91B	12.01B
Gross Property Plant And Equipment	4.67B	5.4B	5.65B	6.36B	6.83B
Accumulated Depreciation	-2.13B	-2.33B	-2.48B	-2.78B	-2.94B
Net Property Plant And Equipment	2.54B	3.07B	3.17B	3.58B	3.89B
Long-term Investments	221M	129M	331M	595M	476M
Goodwill	5.39B	5.61B	5.5B	6.14B	6.75B
Other Intangibles, Total	11.68B	10.96B	10.72B	11.51B	12.25B
Loans Receivable Long-Term	129M	156M	105M	170M	186M
Deferred Tax Assets Long-Term	1.59B	1.68B	1.62B	1.84B	1.87B
Other Long-Term Assets, Total	1.11B	343M	356M	253M	246M
Total Assets	31.04B	31.52B	32.15B	36.01B	37.68B
Liabilities
Accounts Payable, Total	2.19B	1.88B	2.34B	3.02B	3.46B
Accrued Expenses, Total	636M	628M	718M	785M	835M
Short-term Borrowings	-	299M	7M	180M	801M
Current Portion of Long-Term Debt	1.12B	804M	185M	1.07B	735M
Current Portion of Leases	-	88M	103M	107M	99M
Current Income Taxes Payable	157M	232M	282M	263M	113M
Other Current Liabilities	578M	650M	585M	685M	891M
Total Current Liabilities	4.68B	4.58B	4.22B	6.11B	6.94B
Long-Term Debt	6.41B	8.79B	8.9B	9.44B	9.86B
Long-Term Leases	28M	433M	405M	400M	384M
Pension & Other Post Retirement Benefits	559M	605M	477M	361M	349M
Deferred Tax Liability Non Current	2.76B	2.6B	2.82B	3.14B	3.13B
Other Non Current Liabilities	433M	310M	253M	317M	294M
Total Liabilities	14.86B	17.31B	17.07B	19.76B	20.96B
Common Stock, Total	411M	411M	406M	400M	396M
Additional Paid In Capital	3.05B	3.05B	3.05B	3.05B	3.05B
Retained Earnings	1.46B	329M	1.3B	2B	2.26B
Treasury Stock	-388M	-684M	-140M	-152M	-462M
Comprehensive Income and Other	11.46B	10.86B	10.21B	10.65B	10.47B
Total Common Equity	15.99B	13.97B	14.83B	15.94B	15.72B
Minority Interest	195M	243M	246M	309M	998M
Total Equity	16.18B	14.21B	15.08B	16.25B	16.72B
Total Liabilities And Equity	31.04B	31.52B	32.15B	36.01B	37.68B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	264M	261M	261M	257M	253M
ECS Total Common Shares Outstanding	264M	261M	261M	257M	253M
Book Value / Share	60.6	53.59	56.84	62.05	62.06
Tangible Book Value	-1.09B	-2.61B	-1.4B	-1.71B	-3.28B
Tangible Book Value Per Share	-4.12	-10	-5.37	-6.67	-12.96
Total Debt	7.56B	10.42B	9.6B	11.19B	11.88B
Net Debt	6.63B	8.48B	7.52B	8.66B	10.28B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-680M	181M	11M	-68M	-40M
Minority Interest, Total (Incl. Fin. Div)	195M	243M	246M	309M	998M
Equity Method Investments, Total	14M	28M	36M	243M	37M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	140M	173M	177M	228M	303M
Inventories - Work In Process, Total	4.88B	5.18B	5.49B	5.85B	6.44B
Inventories - Finished Goods, Total	785M	876M	977M	1.37B	1.43B
Land - (BS)	343M	348M	352M	441M	464M
Buildings, Total	1.29B	1.36B	1.4B	1.54B	1.64B
Machinery, Total	2B	2.15B	2.23B	2.46B	2.53B
Full Time Employees	19.14K	18.78K	18.31K	19.48K	20.62K
Part Time Employees	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	67M	91M	104M	127M	106M

Fiscal Period: June	2019	2020	2021	2022	2023
Net Income	1.46B	329M	1.3B	2B	2.26B
Depreciation & Amortization - CF	226M	350M	367M	381M	417M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	226M	350M	367M	381M	417M
Minority Interest in Earnings - (CF)	27M	21M	13M	35M	21M
(Gain) Loss From Sale Of Asset	-	-27M	-16M	-5M	-74M
Asset Writedown & Restructuring Costs	66M	1B	74M	6M	-28M
(Income) Loss On Equity Investments - (CF)	-	-	4M	-5M	4M
Stock-Based Compensation (CF)	40M	23M	28M	40M	44M
Net Cash From Discontinued Operations	-	3M	-	-	-
Other Operating Activities, Total	68M	-89M	278M	98M	-45M
Change In Accounts Receivable	-126M	261M	-231M	-185M	-499M
Change In Inventories	-285M	-414M	-305M	-632M	-748M
Change In Accounts Payable	166M	-197M	500M	550M	611M
Change in Other Net Operating Assets	64M	-83M	-18M	15M	68M
Cash from Operations	1.7B	1.18B	2B	2.29B	2.03B
Capital Expenditure	-388M	-365M	-433M	-506M	-702M
Sale of Property, Plant, and Equipment	50M	14M	63M	25M	100M
Investment in Marketable and Equity Securities, Total	-178M	-584M	-116M	-723M	-1.13B
Other Investing Activities, Total	-	-1M	-	1M	-
Cash from Investing	-516M	-936M	-486M	-1.2B	-1.73B
Long-Term Debt Issued, Total	163M	3.82B	1.79B	1.56B	1.7B
Total Debt Issued	163M	3.82B	1.79B	1.56B	1.7B
Long-Term Debt Repaid, Total	-431M	-1.65B	-2.48B	-608M	-961M
Total Debt Repaid	-431M	-1.65B	-2.48B	-608M	-961M
Repurchase of Common Stock	-121M	-526M	-20M	-813M	-786M
Common Dividends Paid	-645M	-849M	-704M	-826M	-1.07B
Common & Preferred Stock Dividends Paid	-645M	-849M	-704M	-826M	-1.07B
Other Financing Activities, Total	-	1M	-	-	-
Cash from Financing	-1.03B	795M	-1.41B	-683M	-1.12B
Foreign Exchange Rate Adjustments	1M	-26M	43M	42M	-103M
Miscellaneous Cash Flow Adjustments	17M	-2M	-1M	-1M	-
Net Change in Cash	169M	1.01B	143M	449M	-918M
Supplemental Items
Cash Interest Paid	340M	371M	350M	275M	292M
Cash Income Tax Paid (Refund)	521M	474M	371M	619M	654M
Levered Free Cash Flow	1.16B	699M	1.21B	1.35B	1.2B
Unlevered Free Cash Flow	1.37B	920M	1.38B	1.5B	1.38B
Change In Net Working Capital	121M	501M	83M	301M	468M
Net Debt Issued / Repaid	-268M	2.17B	-688M	956M	741M

Fiscal Period: June	2019	2020	2021	2022	2023
Profitability
Return on Assets	5.31	4.52	4.72	5.53	5.66
Return on Total Capital	6.93	5.84	6.1	7.23	7.44
Return On Equity %	9.51	2.3	9	12.97	13.85
Return on Common Equity	9.45	2.2	9.06	12.97	14.29
Margin Analysis
Gross Profit Margin %	61.52	60.22	59.98	60.49	59.7
SG&A Margin	33.47	33.45	32.72	32.33	32.21
EBITDA Margin %	30.52	29.5	29.32	29.3	28.54
EBITA Margin %	28.05	26.76	27.27	28.16	27.49
EBIT Margin %	28.05	26.76	27.27	28.16	27.49
Income From Continuing Operations Margin %	16.14	4.14	14.94	18.98	18.81
Net Income Margin %	15.85	3.89	14.79	18.65	18.64
Net Avail. For Common Margin %	15.85	3.89	14.79	18.65	18.64
Normalized Net Income Margin	15.16	13.76	14.86	15.99	15.39
Levered Free Cash Flow Margin	12.65	8.27	13.73	12.66	9.91
Unlevered Free Cash Flow Margin	14.89	10.89	15.67	13.99	11.34
Asset Turnover
Asset Turnover	0.3	0.27	0.28	0.31	0.33
Fixed Assets Turnover	3.7	3.01	2.83	3.17	3.25
Receivables Turnover (Average Receivables)	7.82	7.92	8.69	8.51	7.58
Inventory Turnover (Average Inventory)	0.63	0.56	0.56	0.61	0.63
Short Term Liquidity
Current Ratio	1.79	2.09	2.45	1.95	1.73
Quick Ratio	0.53	0.7	0.86	0.71	0.54
Operating Cash Flow to Current Liabilities	0.36	0.26	0.47	0.38	0.29
Days Sales Outstanding (Average Receivables)	46.67	46.18	42.03	42.87	48.15
Days Outstanding Inventory (Average Inventory)	579.99	649.18	657.54	601.02	577.35
Average Days Payable Outstanding	197.85	197.17	196.24	193.87	210.2
Cash Conversion Cycle (Average Days)	428.81	498.2	503.33	450.03	415.3
Long Term Solvency
Total Debt/Equity