Report
Fatma Agnès Hamdani

Pernod Ricard : Challenging FY 2019-20 release before a recovery in FY 2020-21

>We are more cautious than the consensus on the end of FY 2019-20... - Pernod Ricard is due to report its FY 2019-20 results on 2 September. We expect Q4 sales of € 1,155m est. (vs € 1,278m for the consensus), an organic decline of 39.9%e (consensus: -34.5%). The organic decline that we forecast in Q4 is similar to that we expect in the same quarter for Rémy Cointreau (-41.3%e by our estimates for own brands vs -42.8% for the consensus for RCO). We expect a better pe...
Underlying
Pernod Ricard SA

Pernod Ricard produces and distributes wines and spirits. Co. produces aniseed products, vodka, whisky, cognac, rum, gin, liqueurs, champagnes and wines. Co.'s activity is organized around families of products built around brands. Its brands portfolio includes: ABSOLUT vodka, Ricard pastis, Ballantine's, Chivas Regal and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Kahlua and Malibu liqueurs, Mumm and Perrier-Jouet champagnes as well as Jacob's Creek and Brancott Estate wines. Co. is structured into four segments constituted by the following geographic regions: France, Europe (excluding France), Americas, Asia/Rest of the World.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Fatma Agnès Hamdani

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