Spirits giant Pernod Ricard’s global sales fell 14.5% in its third financial quarter as the widespread closure of bars and restaurants took effect.

Pernod Ricard’s sales fell organically to €1.73 billion (US$1.86bn) in three months ending 31 March 2020.

And for the nine-month period to 31 March 2020, Pernod Ricard’s organic sales fell 2.1% to €7.2 billion.

In the year to date, sales in the US grew 3%, led by brands such as Jameson whiskey, The Glenlivet, and Malibu rum, although there was a significant slowdown in the third quarter “due to confinement and physical distancing measures implemented in most States,” it said.

In China, sales “severely” plummeted by 11%, which the group blamed on on-trade closures starting at the end of January. Sales were also impacted by the cancellation of Chinese New Year celebrations.

Sales in India grew by 1%, compared to 19% growth in the nine months to February 2019, but the country’s own nationwide lockdown imposed on 24 March hurt this year’s Q3 performance.

The company’s global travel retail business was one of the hardest hit, with “severe decline from February,” of 13%, driven by restrictions and lockdowns imposed across the world.

In Europe, sales have remained “stable” so far, with 2% growth in the year to-date, but the company’s “good performance to February” was severely impacted by a “double digit decline” in March once lockdown measures started come into effect.

The Jameson whiskey owner said that the Covid-19 outbreak will have “widespread repercussions” on business last month, and expects operating profit to fall by 20% in FY20. The company had initially expected that the virus could cause a 2% fall in its FY2020 sales.

Alexandre Ricard, Chairman and Chief Executive Officer, said, despite the blow, Pernod Ricard H1 sales through the start of Q3 were “solid, thanks to the implementation of our Transform & Accelerate strategic plan.”

As part of this plan, which launched in 2019, the company said it was to merge its two French businesses, Pernod and Ricard, which would lead to 280 jobs being open to voluntary redundancy.

“Since then, the Covid-19 pandemic has led to a significant deterioration of the environment across the globe.”

“I would like to praise the exemplary behaviour of our teams and their impact on their respective communities around the world at this very difficult time.

“Under current assumptions of the impact of Covid-196, we are confirming our guidance of an organic decline in Profit from Recurring Operations for full-year FY20 of c. -20%.

“We are staying the strategic course while implementing a comprehensive action plan to mitigate costs and tightly manage cash. Thanks to our solid fundamentals and strong liquidity position, I am confident in Pernod Ricard’s ability to bounce back from today’s challenges to achieve its growth potential.”

Pernod Ricard said sales of “strategic local brands” fell by 1%, while “speciality brands” grew 13% thanks to Lillet apéritif, Altos Tequila, Redbreast Irish whiskey, Monkey 47 gin, Aberlour Scotch whisky and Del Mageuy mezcal.

It comes as little surprise then, that the group is investing in more speciality brands. After recent investments in aperitivo Italicus and Japanese gin Ki No Bi, French drinks group Pernod Ricard bought the remaining stake in German gin brand Monkey 47 at the end of March.

保乐力加中国市场下滑11%

在全球酒吧和餐馆普遍关闭的影响下，烈酒巨头保乐力加(Pernod Ricard)在第三财季的全球销售额下降了14.5%。

截至2020年3月31日的3个月，保乐力加的销售额自然下降至17.3亿欧元(合18.6亿美元)。截至2020年3月31日的9个月，保乐力加的有机销售额下降了2.1%，为72亿欧元。

今年截至目前，该集团在美国的销售额增长了3%，领先品牌包括尊美醇(Jameson)威士忌、格兰威特(Glenlivet)威士忌和马里布(Malibu)朗姆酒。该集团称，第三季度出现了显著的放缓，这要归因于大多数国家实施的禁足和社交疏远措施。

在中国，销售“严重”下降了11%，该集团将此归咎于从1月底开始的即饮场所关闭。此外，中国春节庆祝活动的取消也影响了销售。

印度的销售额增长了1%，而截至2019年2月的9个月中增长了19%，但印度自3月24日起在全国范围内实施禁售，损害了今年第三季度的业绩。

该公司的全球旅游零售业务受到的打击最大，由于受到全球范围内的限制和封锁，自2月份以来下降了13%。

到目前为止，在欧洲市场的销售一直保持“稳定”，年初至今增长了2%，但是由于实施封锁措施，3月份的“两位数下滑”严重影响了集团“ 2月份的良好表现”。

该集团称， 3月份疫情对业务产生“广泛影响”，并预计2020财年营业利润将下降20%。该集团最初预计病毒可能导致其2020财年销售额下降2%。

董事长兼首席执行官Alexandre Ricard表示，尽管受到打击，但保乐力加上半财年到第三季度初的销售仍然稳定，这要归功于实施了“转型与加速”战略计划。“根据当前对疫情影响的估测，我们预计2020财年全年的经常性运营利润将自然下降20%。”

“我们在执行全面行动计划以降低成本并严格管理现金的同时仍保留了战略路线。由于我们坚实的基本面和强大的流动性，我对保乐力加能够从当今的挑战中反弹并实现其增长潜力充满信心。”

Ricard表示，旗下“战略性本土品牌”的销售额下降了1%，而Lillet利口酒、Altos 龙舌兰、Redbreast爱尔兰威士忌、Monkey 47金酒、Aberlour苏格兰威士忌和Del Mageuy mezcal等“专业品牌”的销售额增长了13%。

因此，该集团正在投资更多专业品牌就不足为奇了。在近期对意大利Italicus利口酒和日本Ki No Bi金酒进行投资之后，该集团于3月底收购了德国金酒品牌Monkey 47的剩余股份。

徐菲远 译自The Drinks Business