Pernod Ricard (RI) AGM 2025 summary

Opening remarks and agenda

• The assembly was convened in compliance with legal requirements, with a provisional quorum of 80.92% and final quorum of 81.23% representing over 204 million shares.

• Chairman & CEO Alexandre Ricard opened the meeting, with attendance from the Board, Lead Independent Director, EVP Finance & Tech, and Statutory Auditor Deloitte & Associés.

• The agenda included the management report, financial performance, board updates, shareholder proposals, and voting on 25 resolutions.

Financial performance review

• Net sales reached EUR 10,959 million, down 3% organically and 5.5% reported, mainly due to decreases in China, the US, and global travel retail.

• Organic operational margin increased by 64 basis points; group share of net profit rose 10% to EUR 1,626 million.

• Free cash flow grew 18% to EUR 1,133 million; net debt reduced to EUR 10,727 million.

• The group maintained or gained market share in 12 of 17 main markets, with strong performances in India, Japan, Nigeria, Turkey, and South Africa.

• Portfolio management included disposals of non-core assets and focus on premiumisation.

Board and executive committee updates

• Two new independent directors, Albert Baladi and Jean Lemierre, were appointed; Namita Shah stepped down.

• The board consists of 14 members, with balanced gender and nationality representation, and a 97% attendance rate.

• Board comprised of independent, employee, and non-French directors, with diverse skills in management, finance, governance, and innovation.

• Five dedicated committees (Audit, Nominations & Governance, Compensation, Strategic, CSR) supported Board activities.

• Lead Independent Director engaged with top investors and led Board reviews.