Pernod Ricard S A (PRNDY) Q4 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and thank you for joining us to Panorica's Fiscal Year 26 full year results. I'm joined today by Alexandre Ricard, Chairman and CEO, and Mauve Croizat, Group Deputy CFO. We are delighted to welcome Mauve to her first earnings call with us. Alexandre, over to you. Thank you, Joël, and good morning, ladies and gentlemen. Maybe just before starting, I'd like to introduce Mauve Croizat, our deputy CFO and soon-to-be CFO as of October 1st. Maybe, Mauve, can you say a few words about you? Yes, thank you, Alex. Very happy to be with you today. So I usually say that I'm born and raised Pernod Ricard. I was very lucky to move in many different countries, U.S., Sweden, for many years across multiple affiliates. So a brand company, brand company, market company. Headquarter and different functions because I started with cash and then more FP&A and co-finance with some years as general managers and lately within transformation. So very happy to be with you today, very honored to take on the role and very prepared. Well, thank you very much, Mauve. And without further ado, let's start with our fiscal year 26 sales and results. Overall, our fiscal year 26 was characterized by a contrasted environment, with indeed continued softness in the U.S., amplified by some inventory adjustments, and weak demand in China. Thank you very much. and with full delivery now expected by fiscal year 28 instead of fiscal year 29 i.e. one year ahead of anticipated. Driving as well sustainable cash generation to preserve a strong balance sheet with materially improved cash conversion in fiscal year 26 at 91%. Optimizing as well our strategic investments for future growth, maintaining balance sheet discipline to support our deleveraging trajectory and sustainable shareholder return...