PERNOD-RICARD - URD 2021-22 EN

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Pernod Ricard at a glance2
1. Extracts from the integrated annual report5
Message from Alexandre Ricard7
One year of convivial moments10
Our history12
Our decentralised organisation14
Our brand portfolio16
Our Mindset for Growth: Conviviality18
Our strategy: long-term sustainable growth20
Our growth model: The Conviviality Platform22
Our foundations: people and performance24
Our Sustainability & Responsibility roadmap: strengthening our business26
Our value creation model28
Our key financial figures30
Our key non-financial figures31
Our Board of Directors32
Our Executive Board & Executive Committee34
2. Corporate governance37
2.1 Our Board of Directors (on 30 June 2022)38
2.2 Summary of the composition of the Board of Directors39
2.3 Duties performed by the Directors40
2.4 Governance structure49
2.5 Composition of the Board of Directors51
2.6 Structure and operation of the Board of Directors58
2.7 Structure and operations of the Committees61
2.8 Compensation report65
2.9 Financial authorisations and delegations90
2.10 Share buyback programme93
2.11 Items liable to have an impact in the event of a public offer96
2.12 General Meetings and attendance procedures96
2.13 Management structure98
3. Sustainability & Responsibility101
3.1 Pernod Ricard brings good times from a good place102
3.1.1 A strategy built around a vision: “Créateurs de convivialité”102
3.1.2 A robust governance structure103
3.2 The main sustainability risks and opportunities104
3.2.1 Presentation of the methodology104
3.2.2 Key risks and opportunities104
3.3 The four pillars of the Good Times from a Good Place roadmap108
3.3.1 Nurturing Terroir108
3.3.2 Valuing People113
3.3.3 Circular making124
3.3.4 Responsible Hosting137
3.4 Ethics & compliance143
3.4.1 The Group’s ethical practices143
3.4.2 Presentation and implementation of the Duty of Care147
3.4.3 EU Taxonomy155
3.5 Reference table for the United Nations Sustainable Development Goals (SDGs)157
3.6 Methodology note and third-party verification158
3.6.1 Methodology note on non-financial reporting158
3.6.2 Statutory Auditor’s report162
4. Risk management165
4.1 Internal control and risk management166
4.1.1 Definition of internal control166
4.1.2 Description of the internal control environment166
4.2 Risk factors168
4.2.1 Description of key risk factors170
4.3 Insurance and risk coverage185
4.3.1 Insurance policies185
4.3.2 Coverage185
4.3.3 Means put in place by the Group to manage the consequences of a claim, in particular in the event of an industrial accident186
4.4 Risks and disputes: provisioning procedure186
4.5 Financial and accounting information186
4.5.1 Preparation of the Group’s consolidated financial statements186
4.5.2 Preparation of Pernod Ricard’s separate financial statements186
5. Management report187
5.1 Key figures from the consolidated financial statements for the year ended 30 June 2022188
5.1.1 Income statement188
5.1.2 Balance sheet188
5.1.3 Net financial debt189
5.1.4 Cash Flow statement189
5.2 Analysis of business activity and results190
5.2.1 Presentation of results190
5.2.2 Organic net sales growth of Strategic International Brands191
5.2.3 Contribution after advertising and promotion expenses192
5.2.4 Profit from recurring operations192
5.2.5 Financial income/(expense) from recurring operations192
5.2.6 Group share of net profit from recurring operations192
5.2.7 Group share of net profit192
5.3 Net debt193
5.4 Outlook193
5.5 Definitions and reconciliation of non-IFRS measures to IFRS measures194
5.5.1 Organic growth194
5.5.2 Free Cash Flow194
5.5.3 “Recurring” indicators194
5.5.4 Net debt194
5.5.5 EBITDA194
5.6 Material contracts195
5.6.1 Significant contracts not related to financing195
5.6.2 Financing contracts195
6. Annual consolidated financial statements199
6.1 Annual consolidated income statement200
6.2 Consolidated statement of comprehensive income201
6.3 Consolidated balance sheet202
6.4 Statement of changes in annual consolidated shareholder equity204
6.5 Annual consolidated cash flow statement205
6.6 Notes to the consolidated financial statements206
6.7 Statutory Auditors’ report on the consolidated financial statements254
7. Pernod Ricard SA separate financial statements259
7.1 Pernod Ricard SA income statement260
For the financial years ended 30 June 2021 and 30 June 2022260
7.2 Pernod Ricard SA balance sheet261
For the financial years ended 30 June 2021 and 30 June 2022261
7.3 Pernod Ricard SA cash flow statement263
For the financial years ended 30 June 2021 and 30 June 2022263
Note: Presentation of cash flow statement263
7.4 Analysis of Pernod Ricard SA income statement and balance sheet264
7.4.1 Relations between the Parent Company and its affiliates264
7.4.2 Income statement and balance sheet as at 30 June 2022264
7.5 Notes to the Pernod Ricard SA separate financial statements265
7.6 Other items relating to the financial statements277
7.7 Financial income/(expense) over the last five financial years279
7.8 Dividends paid over the last five financial years279
7.9 Inventory of marketable securities280
7.10 Statutory Auditors’ report on the annual financial statements281
7.11 Statutory Auditors’ special report on regulated agreements284
8. Annual Ordinary General Meeting285
8.1 Agenda – Annual Ordinary General Meeting on 10 November 2022286
8.2 Presentation of the resolutions of the Annual Ordinary General Meeting on 10 November 2022286
8.3 Draft resolutions of the Annual Ordinary General Meeting on 10 November 2022288
9. About the Company and its share capital293
9.1 Information about Pernod Ricard294
9.1.1 Company name and trading name294
9.1.2 Registered office and website294
9.1.3 Legal form294
9.1.4 Applicable law294
9.1.5 Date of formation and duration294
9.1.6 The issuer’s objects and purposes294
9.1.7 RCS registration number, NAF business activity code and LEI code294
9.1.8 Financial year295
9.1.9 Entitlement to dividends – Entitlement to share in the issuer’s profits295
9.1.10 Changes in the share capital and the rights attached to shares295
9.1.11 The Statutory Auditors295
9.2 Information about the share capital296
9.2.1 Amount of paid-up capital at 30 June 2022296
9.2.2 Shares not representing capital296
9.2.3 Contingent share capital296
9.2.4 Changes in the share capital over the last five years297
9.2.5 Changes in voting rights over the last five years297
9.2.6 Breakdown of share capital and voting rights on 30 June 2022298
9.2.7 Stock market information on Pernod Ricard shares301
9.2.8 Other legal information301
10. Additional information in the universal registration document303
10.1 Persons responsible304
10.1.1 Names and positions304
10.1.2 Declaration by the person responsible for the universal registration document and the annual financial report304
10.2 Documents on display304
10.3 Reference tables305
10.3.1 Universal registration document305
10.3.2 Management report307
10.3.3 Report on corporate governance308
10.3.4 Annual financial report308
10.3.5 Management reports, Parent Company financial statements, Group consolidated financial statements and Statutory Auditors’ reports for financial years ended 30 June 2022 and 30 June 2021308

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