The saying “Never let a crisis go to waste” is famously credited to the acerbic wit of Winston Churchill. There is no denying that the global pandemic has had a terrible impact on the world, in both human and economic terms. As a company, we sadly lost some of our own employees and my thoughts go out to the very many people around the world who have been affected in this way. The upheaval created by the crisis has been terrible, but at the same time it has brought new opportunities for those who are able to see and create them. Now, 18 months down the line, I am convinced this crisis has strengthened your Group, and we are even better placed now to face the future.
I would say without a doubt that the main factor enabling a company to get through periods of turbulence is the resilience and engagement of its people. It is thanks to the strength of our inclusive culture and the exceptional commitment of our teams that we were able to gain precious time by reacting quickly and effectively in the face of the storm. Combining the strength of a large group with the agility of a start-up is every CEO’s dream, and I cannot praise our people enough as they were once again the determining factor in this year’s performance. With operating profit internal growth of +18%, we are already above pre-crisis levels(1). That is why I am proud to announce that in FY22 the Group will launch a new Employee Share Ownership Plan. This will enable our employees to buy Pernod Ricard shares on favourable terms and benefit from the ongoing transformation they are building every day and everywhere to accelerate our Group’s future growth.
“This crisis has strengthened your Group.”
The danger now would be to believe that the crisis is already behind us when this is far from being the case. I would argue that hardly matters: the real challenge is to firmly establish this rebound by continuing our transformation. We are determined to remain focused on creating the conditions for future growth every day - solid, sustainable growth that benefits all our stakeholders. This is the true leadership we have been aiming towards since your Group was founded. And it is thanks to support from you, our valued shareholders, that we are in a position to build our future with serenity and confidence in times of crisis.
(1) At constant currency rates.
