FY23 Full-year Sales and Results

Press release - Paris, 31 August 2023

VERY STRONG FY23 PERFORMANCE IN A NORMALISING ENVIRONMENT

+10% ORGANIC SALES GROWTH (+13% REPORTED)
+11% ORGANIC GROWTH IN PRO1 (+11% REPORTED)

FY23 Net Sales grew +10% organically, totalling €12,137m. Reported Sales growth was +13% with
favourable foreign exchange impact mostly from USD appreciation versus EUR.
Broad-based growth across all regions with strong pricing execution:
• Americas: +2%, dynamic growth in LATAM led by Mexico and low-single digit growth in North
America with stable Net Sales in USA and underlying value depletions +2%. Declining Sales
expected in Q1 in USA, on high comparison basis, with positive outlook for the full year
• Asia-RoW: +17%, excellent broad-based growth led by India, Travel Retail recovery, China and
Turkey. Solid performance in Japan, South Korea and dynamic rebound in Southeast Asia.
Challenging macroeconomic environment in China leading to declining Net Sales in Q1 FY24, with
high comparison basis expected to ease from Q2
• Europe: +8%, strong resilience and pricing with growth led by Spain, Germany and rebound in
Travel Retail.
All spirits categories delivered strong growth:
• Strategic International Brands: +11%, strong momentum led by Scotch, Martell, Jameson
and Absolut
• Strategic Local Brands: +10%, very dynamic growth notably led by Seagram’s Indian
whiskies and Olmeca
• Specialty Brands: +8%, continued development led by Lillet, Aberlour, Malfy and the Spot
Range
• Strategic Wines: (2)%, overall soft performance mainly driven by Jacob’s Creek and
Campo Viejo in UK and North America.
Strong Price/mix at +9%, mostly from strong pricing actions (+8%). Resilient volumes growing +1%.
Q4 Net Sales were €2,630m, with +19% organic growth.

RESULTS
FY23 PRO grew +11% to €3,348m (+11% reported), sustaining organic Gross Margin and expanding
organic Operating Margin thanks to leading premium portfolio, excellent Revenue Growth Management
and operational efficiencies:
• Gross margin protected +3bps as price and mix offset COGS inflation
• A&P ratio maintained at c. 16% of Net Sales, with dynamic allocation between brands,
markets and activities
• Discipline on Structure costs +37bps and growing +8% organically
• Negative FX impact on PRO of €(70)m with favorable impact from USD more than offset by
Turkish Lira and other emerging market currencies
Recurring effective tax rate at 22.6%.
Group share of Net PRO was €2,340m, +10% reported vs. FY22.
Group share of Net Profit was €2,262m, +13% reported, a strong increase thanks to Profit from
Recurring Operations growth.

1 Profit from Recurring Operations

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FY23 Full-year Sales and Results
Press release - Paris, 31 August 2023

CASH FLOW AND DEBT

FY23 Recurring Free Cash Flow reached €1,653m as we leveraged our strong cash generation to
accelerate investments in future organic growth with CAPEX and strategic inventories.
The cost of debt averaged 2.6% in FY23 due to higher financing rates.
Net debt increased to €10,273m with significant M&A activity (notably Sovereign Brands, Código and
Skrewball), dividend cash out, c. €750m of share buyback executed and positive FX impact on Net Debt
(USD/EUR).
Net Debt/EBITDA ratio at average FX rates2 stood at 2.7x as of 30 June 2023.
Return to shareholders is accelerating with a proposed dividend of €4.70, an increase of +14% vs.
FY22, and a share buyback program of €500m to €800m in FY24.
The financial policy is as follows:
While maintaining investment grade rating;
• Investing in future organic growth, in particular through Strategic Inventories and Capital
Expenditure
• Continued active portfolio management, including value creating M&A
• Dividend distribution at c.50% of Net Profit from Recurring Operations, aiming consistently at
growing dividends
• Share buyback

OUTLOOK
Building on our very strong FY23 performance, we confidently reiterate our FY23 to FY25 mid-term
financial framework of aiming for the upper end of +4% to +7% Net Sales growth and +50/+60bps
operating margin.
In a challenging environment, we anticipate for FY24:
o Broad-based and diversified Net Sales growth for the full year, with soft start in Q1
amplified by high comparison basis
o Adapting to easing inflationary pressures
o Continued focus on Revenue Growth Management and operational efficiencies
o Consistent A&P ratio at c. 16% of Net Sales, dynamically optimized through KDPs3
o Disciplined investments in structure
o All leading to organic Operating Margin expansion
o Significant investments in Capex c. €800m-€1bn range and strategic inventories with a
similar level to FY23 to sustainably support future growth
o Share buyback of €500m to €800m in FY24
o Negative FX impact.

Alexandre Ricard, Chairman and Chief Executive Officer, stated,

“Pernod Ricard once again delivered a very strong full-year performance, achieving double-digit broad-
based growth in sales and earnings despite a volatile environment. The relevance of our growth strategy,
the desirability of our brands and the unwavering commitment and agility of our teams enabled us to gain
share in most markets and strengthen pricing. Our transformational journey continues to accelerate
through the deployment of tech and data-powered organizational, sales and marketing initiatives. We are
making solid progress on our sustainability and responsibility roadmap to 2030. While the environment in
FY24 remains challenging, I am confident in Pernod Ricard’s ability to deliver on its medium-term
objectives.”

2
Based on average EUR/USD rate: 1.05
3
Key Digital Programs
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FY23 Full-year Sales and Results
Press release - Paris, 31 August 2023

All growth data specified in this press release refers to organic growth (at constant FX and Group structure), unless
otherwise stated. Data may be subject to rounding.

A detailed presentation of FY23 Sales and Results can be downloaded from our website: www.pernod-ricard.com

Audit procedures have been carried out on the financial statements. The Statutory Auditors’ report will be issued after
examination of the management report and completion of procedures required for the filing of the Universal Registration
Document.”

Definitions and reconciliation of non-IFRS measures to IFRS measures

Pernod Ricard’s management process is based on the following non-IFRS measures which are chosen for planning and
reporting. The Group’s management believes these measures provide valuable additional information for users of the
financial statements in understanding the Group’s performance. These non-IFRS measures should be considered as
complementary to the comparable IFRS measures and reported movements therein.

Organic growth
- Organic growth is calculated after excluding the impacts of exchange rate movements, acquisitions and disposals
and changes in applicable accounting principles.
- Exchange rates impact is calculated by translating the current year results at the prior year’s exchange rates.
- For acquisitions in the current year, the post-acquisition results are excluded from the organic movement
calculations. For acquisitions in the prior year, post-acquisition results are included in the prior year but are
included in the organic movement calculation from the anniversary of the acquisition date in the current year.
- Where a business, brand, brand distribution right or agency agreement was disposed of, or terminated, in the
prioryear, the Group, in the organic movement calculations, excludes the results for that business from the prior
year. For disposals or terminations in the current year, the Group excludes the results for that business from the
prior year from the date of the disposal or termination.
- The impact of hyperinflation on Net Sales and PRO in Turkey is excluded from P&L organic growth calculations
by capping unit local price/cost increases to a maximum of +26% per year, equivalent to +100% over 3 years.
- This measure enables to focus on the performance of the business which is common to both years and which
represents those measures that local managers are most directly able to influence.

Profit from Recurring Operations

Profit from Recurring Operations corresponds to the operating profit excluding other non-current operating income and
expenses.

About Pernod Ricard

Pernod Ricard is a worldwide leader in the spirits and wine industry, blending traditional craftsmanship, state-of-the-art
brand-building, and global distribution technologies. Our prestigious portfolio of premium to luxury brands includes Absolut
vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute, and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell
cognac, Havana Club rum, Beefeater gin, Malibu liqueur and Mumm and Perrier-Jouët champagnes. Our mission is to ensure
the long-term development of our brands with full respect for people and the environment, while empowering our employees
around the world to be ambassadors of our purposeful, inclusive and responsible culture of authentic conviviality. Pernod
Ricard’s consolidated sales amounted to € 12,137 million in fiscal year FY23.
Pernod Ricard is listed on Euronext (Ticker: RI; ISIN Code:FR0000120693) and is part of the CAC 40 and Eurostoxx 50 indices.

Contacts

Florence Tresarrieu / Global SVP Investor Relations and Treasury +33 (0) 1 70 93 17 03
Edward Mayle / Investor Relations Director +33 (0) 1 70 93 17 13
Charly Montet / Investor Relations Manager +33 (0) 1 70 93 17 13
Emmanuel Vouin / Head of External Engagement +33 (0) 1 70 93 16 34

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FY23 Full-year Sales and Results
Press release - Paris, 31 August 2023

Appendices

Emerging Markets

Asia-Rest of World Americas Europe

Algeria Malaysia Argentina Albania
Angola Mongolia Bolivia Armenia
Cambodia Morocco Brazil Azerbaijan
Cameroon Mozambique Caribbean Belarus
China Namibia Chile Bosnia
Congo Nigeria Colombia Bulgaria
Egypt Persian Gulf Costa Rica Croatia
Ethiopia Philippines Cuba Georgia
Gabon Senegal Dominican Republic Hungary
Ghana South Africa Ecuador Kazakhstan
India Sri Lanka Guatemala Kosovo
Indonesia Syria Honduras Latvia
Iraq Tanzania Mexico Lithuania
Ivory Coast Thailand Panama Macedonia
Jordan Tunisia Paraguay Moldova
Kenya Turkey Peru Montenegro
Laos Uganda Puerto Rico Poland
Lebanon Vietnam Uruguay Romania
Madagascar Zambia Venezuela Russia
Serbia
Ukraine
Strategic International Brands’ organic Sales growth

Volumes FY23
Organic Net Sales
Volumes Price/mix
growth FY23
(in 9Lcs millions)

Absolut 12.7 +10% +2% +8%

Chivas Regal 5.1 +25% +10% +15%
Ballantine's 8.8 +13% (4)% +17%
Ricard 4.4 +1% (1)% +2%
Jameson 10.7 +10% +2% +8%
Havana Club 4.3 +6% (6)% +12%
Malibu 4.7 +4% (5)% +9%
Beefeater 3.7 +10% +2% +7%
Martell 2.4 +10% (3)% +12%
The Glenlivet 1.6 +9% (3)% +12%
Royal Salute 0.3 +32% +17% +15%
Mumm 0.6 (5)% (16)% +11%
Perrier-Jouët 0.3 +6% (7)% +12%
Strategic International Brands 59.5 +11% (0)% +11%

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FY23 Full-year Sales and Results
Press release - Paris, 31 August 2023

Sales Analysis by Period and Region

Net Sales
FY22 FY23 Change Organic Growth Group Structure Forex Impact
(€ millions)

Americas 3,133 29.3% 3,481 28.7% +348 +11% +62 +2% +108 +3% +178 +6%

Asia / Rest of World 4,438 41.5% 5,191 42.8% +753 +17% +755 +17% +84 +2% (86) (2)%

Europe 3,130 29.2% 3,465 28.5% +335 +11% +251 +8% +57 +2% +27 +1%

Group 10,701 100.0% 12,137 100.0% 1,436 +13% 1,068 +10% 248 +2% 120 +1%

Net Sales
Q4 FY22 Q4 FY23 Change Organic Growth Group Structure Forex Impact
(€ millions)

Americas 708 30.9% 728 27.7% +20 +3% +20 +3% +45 +6% (45) (6)%

Asia / Rest of World 857 37.4% 1,073 40.8% +216 +25% +311 +36% +23 +3% (118) (14)%

Europe 729 31.8% 829 31.5% +100 +14% +103 +14% +9 +1% (13) (2)%

Group 2,295 100.0% 2,630 100.0% 336 +15% 434 +19% 78 +3% (176) (8)%

C
Net Sales
H2 FY22 H2 FY23 h Change Organic Growth Group Structure Forex Impact
(€ millions)
a
Americas 1,495 31.5% 1,476 28.9% (19) (1)% (56) (4)% +78 +5% (42) (3)%

Asia / Rest of World 1,914 40.4% 2,069 42.7% +155 +8% +295 +15% +36 +2% (175) (9)%

Europe 1,333 28.1% 1,476 28.4% +144 +11% +143 +11% +18 +1% (18) (1)%

Group 4,742 100.0% 5,022 100.0% 280 +6% 381 +8% 133 +3% (235) (5)%

Summary Consolidated Income Statement

(€ millions) FY22 FY23 Change

Net sales 10,701 12,137 +13%

Gross Margin 6,473 7,246 +12%
Advertising and promotions spend (1,698) (1,939) +14%
Contribution after A&P spend 4,775 5,307 +11%
Structure costs (1,751) (1,959) +12%
Profit from Recurring Operations 3,024 3,348 +11%
Financial income/(expense) from recurring operations (215) (291) +36%
Corporate income tax on items from recurring operations (651) (691) +6%
Net profit from discontinued operations, non-controlling interests and share of
(34) (25) (26)%
net income from associates
Group share of net profit from Recurring Operations 2,124 2,340 +10%

Profit from Non Recurring Operations (62) (83) +35%

Financial income/(expense) from non-recurring operations (45) (35) (22)%
Corporate income tax on items from non recurring operations (26) 40 (256)%
Non controlling interests (non-recurring) 4 1 (79)%

Group share of net profit 1,996 2,262 +13%

Non-controlling interests 35 21 (40)%
Net profit 2,031 2,283 +12%

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FY23 Full-year Sales and Results
Press release - Paris, 31 August 2023

Profit from Recurring Operations by Region

World

(€ millions) FY22 FY23 Change Organic Growth Group Structure Forex impact

Net sales (Excl. T&D) 10,701 100.0% 12,137 100.0% 1,436 +13% 1,068 +10% 248 +2% 120 +1%

Gross margin after logistics costs 6,473 60.5% 7,246 59.7% 773 +12% 646 +10% 142 +2% (15) (0)%

Advertising & promotion (1,698) 15.9% (1,939) 16.0% (242) +14% (180) +11% (31) +2% (31) +2%

Contribution after A&P 4,775 44.6% 5,307 43.7% 531 +11% 466 +10% 111 +2% (46) (1)%

Profit from recurring operations 3,024 28.3% 3,348 27.6% 324 +11% 334 +11% 60 +2% (70) (2)%

Americas

(€ millions) FY22 FY23 Change Organic Growth Group Structure Forex impact

Net sales (Excl. T&D) 3,133 100.0% 3,481 100.0% 348 +11% 62 +2% 108 +3% 178 +6%

Gross margin after logistics costs 2,059 65.7% 2,220 63.8% 161 +8% 10 +0% 51 +2% 100 +5%

Advertising & promotion spend (568) 18.1% (686) 19.7% (117) +21% (57) +10% (23) +4% (38) +7%

Contribution after A&P spend 1,491 47.6% 1,534 44.1% 43 +3% (47) (3)% 28 +2% 62 +4%

Profit from recurring operations 1,014 32.4% 965 27.7% (49) (5)% (87) (9)% (6) (1)% 45 +4%
Asia / Rest of the World

(€ millions) FY22 FY23 Change Organic Growth Group Structure Forex impact

Net sales (Excl. T&D) 4,438 100.0% 5,191 100.0% 753 +17% 755 +17% 84 +2% (86) (2)%

Gross margin after logistics costs 2,496 56.2% 2,969 57.2% 473 +19% 501 +20% 74 +3% (102) (4)%

Advertising & promotion (633) 14.3% (740) 14.3% (107) +17% (111) +18% (4) +1% 7 (1)%

Contribution after A&P 1,862 42.0% 2,229 42.9% 366 +20% 390 +21% 70 +4% (95) (5)%

Profit from recurring operations 1,220 27.5% 1,516 29.2% 296 +24% 325 +27% 64 +5% (93) (8)%

Europe

(€ millions) FY22 FY23 Change Organic Growth Group Structure Forex impact

Net sales (Excl. T&D) 3,130 100.0% 3,465 100.0% 335 +11% 251 +8% 57 +2% 27 +1%

Gross margin after logistics costs 1,918 61.3% 2,057 59.4% 139 +7% 135 +7% 17 +1% (13) (1)%

Advertising & promotion (496) 15.9% (513) 14.8% (17) +3% (13) +3% (4) +1% (0) +0%

Contribution after A&P 1,422 45.4% 1,544 44.6% 122 +9% 122 +9% 13 +1% (13) (1)%

Profit from recurring operations 790 25.2% 867 25.0% 77 +10% 96 +12% 2 +0% (22) (3)%

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FY23 Full-year Sales and Results
Press release - Paris, 31 August 2023

Foreign Exchange Impact

Average rates evolution On Profit from

Forex impact FY23
On Net Sales Recurring
(€ millions)
FY22 FY23 % Operations

US dollar USD 1.13 1.05 7.7% 221 118

Turkish Lira TRY 13.83 20.04 -31.0% (84) (73)
Indian rupee INR 84.93 85.49 -0.7% (9) (3)
Chinese yuan CNY 7.28 7.28 -0.1% (1) (1)
Pound sterling GBP 0.85 0.87 -2.6% (13) 15
Bresilian real BRL 5.91 5.41 9.4% 18 6
Argentinian peso ARS 118.70 190.42 -37.7% (48) (17)
Japanese yen JPY 132.09 143.70 -8.1% (20) (11)
Mexican peso MXN 22.92 19.95 14.9% 15 (11)
Other 41 (93)
Total 120 (70)

Sensitivity of profit and debt to EUR/USD exchange rate

Estimated impact of a 1% appreciation of the USD

Impact on the income statement(1) (€ millions)

Profit from recurring operations +15

Financial result (1)

Pre-tax profit from recurring operations +14

Impact on the balance sheet (€ millions)

Increase/(decrease) in net debt +31

(1) Full-year effect

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FY23 Full-year Sales and Results
Press release - Paris, 31 August 2023

Balance Sheet

Assets
30/06/2022 30/06/2023
(€ millions)
(Net book value)
Non-current assets
Intangible assets and goodwill 17,657 19,000
Tangible assets and other assets 4,600 4,798
Deferred tax assets 1,844 1,870
Total non-current assets 24,100 25,667

Current assets
Inventories 7,369 8,104
aged work-in-progress 5,732 6,267
non-aged work-in-progress 91 151
other inventories 1,546 1,685
Receivables (*) 1,388 1,814
Trade receivables 1,320 1,401
Other trade receivables 68 413
Other current assets 435 435
Other operating current assets 430 427
Tangible/intangible current assets 6 8
Tax receivable 145 31
Cash and cash equivalents and current derivatives 2,559 1,624
Total current assets 11,896 12,008
Assets held for sale 15 1
Total assets 36,012 37,676

(*) after disposals of receivables of: 602 749

Liabilities and shareholders’ equity
30/06/2022 30/06/2023
(€ millions)
Group Shareholders’ equity 15,944 15,717
Non-controlling interests 309 998
of which profit attributable to non-controlling interests 35 21
Total Shareholders’ equity 16,253 16,715

Non-current provisions and deferred tax liabilities 3,818 3,777

Bonds non-current 9,238 9,678
Lease liabilities - non current 400 384
Non-current financial liabilities and derivative instruments 197 187
Total non-current liabilities 13,653 14,026

Current provisions 150 164

Trade payables 3,019 3,461
Other current liabilities 1,311 1,556
Other operating current liabilities 799 859
Tangible/intangible current liabilities 513 698
Tax payable 263 113
Bonds - current 842 580
Lease liabilities - current 107 99
Current financial liabilities and derivatives 415 962
Total current liabilities 6,107 6,935
Liabilities held for sale 0 0
Total liabilities and shareholders' equity 36,012 37,676

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FY23 Full-year Sales and Results
Press release - Paris, 31 August 2023

Analysis of Working Capital Requirement

June June June FY22 WC FY23 WC

(€ millions)
2021 2022 2023 change* change*

Aged work in progress 5,373 5,732 6,267 287 (555)

Advances to suppliers for wine and ageing spirits 9 8 12 (1) (2)
Payables on wine and ageing spirits (93) (115) (182) (21) 61
Net aged work in progress 5,289 5,626 6,098 265 (497)
0
Trade receivables before factoring/securitization 1,672 1,922 2,151 163 (307)
Advances from customers (21) (34) (34) (9) 3
Other receivables 445 487 824 9 (356)
Other inventories 1,098 1,546 1,685 342 (141)
Non-aged work in progress 84 91 151 3 (51)
Trade payables and other (2,946) (3,669) (4,106) (534) 626
Gross operating working capital 331 343 671 (25) (228)

Factoring/Securitization impact (592) (602) (749) 12 156

Net Operating Working Capital (261) (259) (78) (13) (71)

Net Working Capital 5,028 5,366 6,019 252 (568)

* at average rates Of which recurring variation 262 (586)

Of which non recurring variation (10) 19

Net Debt

30/06/2022 30/06/2023
(€ millions)
Current Non-current Total Current Non-current Total
Bonds 842 9,238 10,079 580 9,678 10,258
Commercial paper 180 - 180 801 - 801
Other loans and long-term debts 226 179 405 155 173 328
Other financial liabilities 406 179 585 956 173 1 129
Gross Financial debt 1,248 9,417 10,664 1 536 9 851 11 387
Fair value hedge derivatives – assets (5) - (5) - - -
Fair value hedge derivatives – liabilities - 9 9 - 14 14
Fair value hedge derivatives (5) 9 3 - 14 14
Net investment hedge derivatives – assets - - - - (3) (3)
Net investment hedge derivatives – liabilities - 9 9 - - -
Net investment hedge derivatives - 9 9 - (3) (3)
FINANCIAL DEBT AFTER HEDGING 1,242 9,435 10,677 1,536 9 862 11 398
Cash and cash equivalents (2,527) - (2,527) (1,609) - (1 609)
NET FINANCIAL DEBT EXCLUDING LEASE DEBT (1,284) 9,435 8,150 (73) 9,862 9 789
Lease Debt 107 400 507 99 384 484
NET FINANCIAL DEBT (1,177) 9,835 8,657 26 10 246 10 273

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FY23 Full-year Sales and Results
Press release - Paris, 31 August 2023

Change in Net Debt

(€ millions) 30/06/2022 30/06/2023

Operating profit 2,963 3,265

Depreciation and amortisation 381 417
Net change in impairment of goodwill, PPE and intangible assets 10 52
Net change in provisions 7 (74)
Changes in fair value on commercial derivatives and biological assets (2) (87)
Net (gain)/loss on disposal of assets (5) (74)
Share-based payments 40 44
Self-financing capacity before interest and tax 3,392 3,543
Decrease / (increase) in working capital requirements (252) (568)
Net interest and tax payments (846) (942)
Net acquisitions of non financial assets and others (481) (602)
Free Cash Flow 1,813 1,431
of which recurring Free Cash Flow 1,926 1,653
Net acquisitions of financial assets and activities and others (723) (1,129)
Dividends paid (826) (1,072)
(Acquisition) / Disposal of treasury shares and others (813) (786)
Decrease / (increase) in net debt (before currency translation adjustments) (549) (1,556)
Foreign currency translation adjustment (562) 53
Non cash impact on lease liabilities (95) (112)
Decrease / (increase) in net debt (after currency translation adjustments and IFRS 16 non cash impacts) (1,205) (1,615)
Initial net debt (7,452) (8,657)
Final net debt (8,657) (10,273)

Net Debt Maturity at 30 June 2023

€ billions

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FY23 Full-year Sales and Results
Press release - Paris, 31 August 2023

Bond details

Currency Par value Coupon Issue date Maturity date

€ 1,500 m o/w:
€ 500 m 0.000% 24/10/2019 24/10/2023
€ 500 m 0.500% 24/10/2027
€ 500 m 0.875% 24/10/2031
€ 650 m 2.125% 29/09/2014 27/09/2024
€ 1,500 m o/w:
€ 750 m 1.125% 01/04/2020 07/04/2025
€ 750 m 1.750% 08/04/2030
EUR € 500 m o/w:
€ 250 m 1.125% 27/04/2020 07/04/2025
€ 250 m 1.750% 08/04/2030
€ 600 m 1.500% 17/05/2016 18/05/2026
€ 750 m 1.375% 07/04/2022 07/04/2029
€ 500 m 0.125% 04/10/2021 04/10/2029
€ 1 100 m o/w:
€ 500 m 3.750% 02/11/2022 02/11/2032
€ 600 m 3.250% 02/11/2028

$ 850 m 5.500% 12/01/2012 15/01/2042

$ 600 m 3.250% 08/06/2016 08/06/2026
$ 2,000 m o/w:
USD
$ 600 m 1.250% 01/04/2028
01/10/2020
$ 900 m 1.625% 01/04/2031
$ 500 m 2.750% 01/10/2050

Net Debt / EBITDA ratio evolution

Closing rate Average rate(1)

EUR/USD rate Jun FY22 -> Jun FY23 1.04 -> 1.09 1.13 -> 1.05

Ratio at 30/06/2022 2.5 2.4

EBITDA & cash generation excl. Group
structure effect and forex impacts
(0.1) (0.1)
Group structure and forex impacts 0.3 0.4
Ratio at 30/06/2023 2.7 2.7
(1) Last-twelve-month rate

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FY23 Full-year Sales and Results
Press release - Paris, 31 August 2023

Diluted EPS calculation

(x 1,000) FY22 FY23

Number of shares in issue at end of period 257,947 255,632

Weighted average number of shares in issue (pro rata temporis) 261,190 257,537
Weighted average number of treasury shares (pro rata temporis) (2,158) (1,488)
Dilutive impact of stock options and performance shares 688 830
Number of shares used in diluted EPS calculation 259,719 256,879

reported
(€ millions and €/share) FY22 FY23
r
Group share of net profit from recurring operations 2,124 2,340 10.2%
Diluted net earnings per share from recurring operations 8.18 9.11 11.4%

Upcoming Communications

31st August call details

Available in the media section of Pernod Ricard’s website

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