PERNOD RICARD - Universal Registration Document 2019-2020

6. CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements

Breakdown of debt excluding lease liabilities by currency before and after foreign exchange hedging instruments 2. at 30 June 2019 and 30 June 2020

Gross financial debt

Net debt after hedging

% Net debt after hedging

At 30.06.2019 € million

Amount hedged

Debt after hedging

% debt after hedging

Cash

EUR

3,033

540

3,573

(243)

3,330

47%

50%

USD

4,471

(326)

4,145

(60)

4,085

55%

62%

GBP

6

(3)

3

(48)

(45)

0%

-1%

SEK

8

-

8

(18)

(10)

0%

0%

Other currencies

37

(223)

(186)

(555)

(740)

-2%

-11%

FINANCIAL DEBT BY CURRENCY

7,555

(12)

7,543

(923)

6,620

100%

100%

Gross financial debt

Net debt after hedging

% Net debt after hedging

At 30.06.2020 € million

Amount hedged

Debt after hedging

% debt after hedging

Cash

EUR

5,635

(515)

5,120

(1,322)

3,797

52%

48%

USD

4,214

621

4,835

(60)

4,774

49%

60%

GBP

-

(96)

(96)

(37)

(134)

-1%

-2%

SEK

3

(124)

(122)

(31)

(152)

-1%

-2%

Other currencies

42

58

101

(485)

(384)

1%

-5%

FINANCIAL DEBT BY CURRENCY

9,894

(57)

9,837

(1,935)

7,902

100%

100%

Breakdown of fixed-rate/floating rate debt (excluding lease liabilities) before and after interest rate hedging 3. instruments at 30 June 2019 and 30 June 2020

30.06.2019

30.06.2020

Debt before hedging

Debt after hedging Debt before hedging

Debt after hedging

€ million

Fixed-rate debt

6,871

91%

6,168

82%

9,146

93%

8,431

86%

Capped floating-rate debt

-

-

-

-

-

-

-

-

Floating-rate debt

672

9%

1,375

18%

691

7%

1,406

14%

FINANCIAL DEBT AFTER HEDGING BY TYPE OF RATE

7,543

100% 7,543

100% 9,837

100% 9,837

100%

At 30 June 2020, before taking account of any hedges, the Group’s gross debt was 93% fixed rate and 7% floating rate. After hedging, the floating-rate part was 14%.

Schedule of financial liabilities at 30 June 2020 4. The following table shows the maturity of future financial liability-related cash flows (nominal and interest). Floating-rate interest flows have been estimated on the basis of rates at 30 June 2019 and 30 June 2020.

Balance sheet value

At 30.06.2019 € million

Contractual

6 to 12 months

1 to 2 years

2 to 3 years

3 to 4 years

4 to 5 years > 5 years

flows < 6 months

Nominal value

-

(7,499)

(33)

(995)

(1,070)

(1,593)

(718)

(515)

(2,574)

Interest

-

(1,671)

(125)

(128)

(237)

(179)

(105)

(90)

(806)

GROSS FINANCIAL DEBT

(7,555)

(9,170)

(159)

(1,124)

(1,307)

(1,772)

(823)

(605) (3,380)

Cross-currency swaps

-

-

-

-

-

-

-

-

-

Flows payable

-

-

-

-

-

-

-

-

-

Flows receivable

-

-

-

-

-

-

-

-

-

Derivative instruments – liabilities

(21)

(23)

(7)

(6)

(4)

(1)

(1)

(1)

(3)

DERIVATIVE INSTRUMENTS LIABILITIES TOTAL FINANCIAL LIABILITIES

(21)

(23)

(7)

(6)

(4)

(1)

(1)

(1)

(3)

(7,575)

(9,193)

(165)

(1,130)

(1,311) (1,774)

(825)

(607) (3,383)

198

Pernod Ricard Universal Registration Document 2019-2020