Pernod Ricard S A (PRNDY) Q3 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.056 Good morning, and thank you for joining our FY26 Q3 Net Sales 00:00:05.056 -- 00:00:10.101 Call. I'm Joëlle Ferrand, VP of Investors Relations, and I'm pleased to welcome 00:00:10.101 -- 00:00:14.846 Hélène de Tissot, our Global EVP Finance and Tech. 00:00:14.846 -- 00:00:19.831 Hélène will begin with a brief overview of our Q3 performance, 00:00:19.831 -- 00:00:23.754 after which we'll open the call for questions. 00:00:23.754 -- 00:00:28.819 Please note, unless otherwise stated, all sales growth figures discussed 00:00:28.819 -- 00:00:34.032 today refer to organic net sales. With that, 00:00:34.032 -- 00:00:36.635 I'll hand it over to you, Hélène. 00:00:36.635 -- 00:00:39.538 Thank you, Joël, and good morning, everyone. 00:00:39.538 -- 00:00:45.204 Before I begin discussion on our Q3 sales results, I will say a word regarding our press 00:00:45.204 -- 00:00:50.550 release of March 27, in which we confirmed discussions are taking place regarding 00:00:50.550 -- 00:00:53.933 a potential business combination with one firm. 00:00:53.933 -- 00:00:59.125 As stated, We did not intend to communicate further until either an agreement 00:00:59.125 -- 00:01:02.830 is reached or discussions are terminated. 00:01:02.830 -- 00:01:07.918 Discussions are ongoing, so at this stage, I have no further comments to make. 00:01:07.918 -- 00:01:09.918 Returning 00:01:09.941 -- 00:01:13.887 to the topic for our call of sales performance in Q3, 00:01:13.887 -- 00:01:18.954 today we report, as expected, a sequential improvement in organic head sales in 00:01:18.954 -- 00:01:23.818 Q3 compared to H1, with plus 0.1%. 00:01:23.883 -- 00:01:27.849 Reported sales are down minus 14.6%, 00:01:27.849 -- 00:01:34.416 with negative effects at minus 7%, and perimete...