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Pernod Ricard: Continuation of Share Buy-back Program
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
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Rhea-AI Summary
Pernod Ricard has announced a share buyback program worth €300 million as part of its overall €750 million commitment for FY23, originally disclosed on September 1, 2022. The buyback will commence on February 20, 2023, and may extend until April 6, 2023. The maximum purchase price for shares is capped at €320 each, as approved by shareholders at the meeting on November 10, 2022. With consolidated sales of €10,701 million in FY22, Pernod Ricard continues to be a leading player in the global wines and spirits market, managing over 240 premium brands.
Positive
Engagement in a €300 million share buyback program.
Part of a broader €750 million buyback commitment for FY23.
Strong consolidated sales of €10,701 million in FY22.
Negative
None.
PARIS--(BUSINESS WIRE)--
Regulatory News:
As part of its share buyback program announced on 1 September 2022 (€750m confirmed for FY23 during the half-year results publication), Pernod Ricard (Paris:RI) has signed an agreement with an investment services provider, whereby Pernod Ricard will undertake to acquire its own shares for a maximum amount of c. €300m over a period starting on February 20th, 2023 and possibly extending until April 06th, 2023.
The price of the shares purchased under this mandate shall not exceed the limit of €320 per share as set by the Pernod Ricard Shareholders’ Meeting held on November 10th, 2022.
About Pernod Ricard
Pernod Ricard is the No.2 worldwide producer of wines and spirits with consolidated sales amounting to €10,701 million in fiscal year FY22. The Group, which owns 17 of the Top 100 Spirits Brands, holds one of the most prestigious and comprehensive portfolios in the industry with over 240 premium brands distributed across more than 160 markets. Pernod Ricard’s portfolio includes Absolut Vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute, and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur or Mumm and Perrier-Jouët champagnes. The Group’s mission is to unlock the magic of human connections by bringing “Good Times from a Good Place”, in line with its Sustainability and Responsibility roadmap. Pernod Ricard’s decentralised organisation empowers its 19,480 employees to be on-the-ground ambassadors of its purposeful and inclusive culture of conviviality, bringing people together in meaningful, sustainable and responsible ways to create value over the long term. Executing its strategic plan, Transform & Accelerate, Pernod Ricard now relies on its “Conviviality Platform”, a new growth model based on data and artificial intelligence to meet the ever-changing demand of consumers.
Pernod Ricard is listed on Euronext (Ticker: RI; ISIN Code:FR0000120693) and is part of the CAC 40 and Eurostoxx 50 indices.
Emmanuel Vouin / Head of External Engagement
+33 (0) 1 70 93 16 34
Source: PERNOD-RICARD
FAQ
What is Pernod Ricard's share buyback program for 2023?
Pernod Ricard's share buyback program for 2023 includes a commitment to repurchase up to €300 million worth of shares, starting on February 20, 2023, and potentially extending until April 6, 2023.
What is the maximum price for shares in the Pernod Ricard buyback?
The maximum price for shares purchased under the Pernod Ricard buyback program is capped at €320 per share.
When was the €750 million share buyback commitment announced?
The €750 million share buyback commitment was announced on September 1, 2022.
What were Pernod Ricard's sales figures for FY22?
Pernod Ricard reported consolidated sales of €10,701 million for the fiscal year 2022.
When did the Pernod Ricard shareholders approve the buyback price?
The share price limit for the buyback was approved at the shareholders' meeting on November 10, 2022.
