Corby Spirit and Wine Ltd T.CSW.A

Pernod-Ricard reports FY20 results

[autofocus111]

CSW did good compared to RI, just like last quarter. No appreciation of that by the markets. Oh well.

>>>>

SALES

Sales for FY20 totalled €8,448m, with an organic decline of -9.5% (-8.0% reported), with a favourable FX impact linked mainly to USD appreciation vs. Euro.

Sales growth in H1 was robust but H2 was impacted by Covid-19. For FY20, the trends were:

• Americas: -6%, with good resilience in USA² and Canada in slight growth, but double-digit decline in Latin America and Travel Retail
• Asia-RoW: -14%, driven mainly by China, India and Travel Retail, against high basis of comparison
• Europe: -6%, overall good resilience with Germany, UK and Eastern Europe growing, partially offsetting declines in Travel Retail, Spain and France.

Q4 Sales were €1,238m, with -36.2% organic decline (-37.9% reported), with a significant impact of Covid-19 throughout the world, particularly for Travel Retail and the On-trade. There was better than expected resilience of the Off-trade, notably in USA and Europe.

https://www.marketscreener.com/quote/stock/PERNOD-RICARD-4681/news/Pernod-Ricard-FY20-Full-year-Sales-and-Results-31218418/

[schocor]

Pretty ugly results. I think there might be a strengthing euro reporting currency vs usd sales currendy responsible for some of those declines; but its ugly. Corby is great by by comparison.