PERNOD RICARD S A SP/ADR - PRNDY STOCK NEWS

Chivas Brothers, part of Pernod Ricard, announced a £88 million investment to enhance sustainable distillation technologies and expand production at its Aberlour and Miltonduff distilleries in Scotland. This initiative aims to increase total production by 14 million litres annually to meet rising global Scotch demand. With net sales up 23% in February, the company further commits to achieving net zero distillation by 2026. The expansions are expected to be operational by mid-2025, reinforcing Chivas Brothers' position in the growing Scotch whisky market.

Pernod Ricard reported strong financial results for the first nine months of FY22, with sales reaching €8,407 million, marking an organic growth of +18%.

Key markets like the USA and India showed impressive growth rates of +13% and +19%, respectively, while travel retail surged by +33%. Strategic International Brands rose by +20% with top performers including Jameson and Absolut. The company announced an interim dividend of €1.56 per share, payable on July 8, 2022. Despite challenges in Q4 due to COVID disruptions in China and geopolitical tensions, the full-year guidance anticipates a 17% organic growth in Profit from Recurring Operations.

Pernod Ricard has announced its partnership with the Ellen MacArthur Foundation to accelerate the transition to a circular economy. The company is committed to ensuring that 100% of its packaging is recyclable, reusable, or compostable by 2025.

Additionally, Pernod Ricard aims to pilot five circular distribution models for wine and spirits by 2030, focusing on reducing waste and carbon emissions. The company eliminated single-use plastics in promotional products ahead of schedule and is recognized for its significant sustainability goals.

Absolut celebrates 10 years as the Official Vodka of Coachella by launching Absolut.Land, an innovative virtual experience in the metaverse. This immersive space connects festival-goers digitally and in-person, featuring unique attractions like the Anti-Gravity Dance Floor and Absolut Bar. The campaign highlights Absolut's commitment to social interaction and creativity, showcasing exclusive content and collaborations, including a partnership with Swedish House Mafia. The event aims to deepen connections within the festival culture while empowering community engagement.

Pernod Ricard announces an employee shareholding plan named "Accelerate", opening up participation to 80% of its employees as of March 21, 2022. This initiative follows a successful program in 2019, reinforcing the Group's commitment to sustainable growth and employee engagement. The plan allows staff to acquire shares at favorable conditions, with 550,000 shares available, backed by a leverage formula guaranteeing a return of 4%. The plan will be available in 24 markets, enhancing employee involvement in the company's future.

Pernod Ricard has initiated a share buy-back program totaling approximately €750 million for FY22, with about €250 million executed in the first half and around €300 million completed in February and March. The company signed an agreement to repurchase shares worth up to €200 million starting on March 16, 2022, potentially extending until April 6, 2022. Shares will be bought at a maximum price of €280 each, in line with shareholder approval from November 2021. Pernod Ricard is a leading global producer of wines and spirits, reporting consolidated sales of €8.824 billion in FY21.

Jameson Irish Whiskey announced the launch of its first U.S. ready-to-drink cocktail, Jameson Ginger & Lime, on March 7, 2022. This premium cocktail, featuring triple-distilled Irish whiskey, natural ginger, and lime flavors, is packaged in a 12oz can with an ABV of 6%. Available for an SRP of $14.99, it targets the growing demand for convenient, whiskey-based cocktails. The release coincides with St. Patrick's Day celebrations, aligning with consumer preferences for outdoor and on-the-go options.