THE CASE PERNOD-RICARD GROUP The Pernod-Ricard group is a French business watch, started in 1932 by Paul Ricard, grandfather of the current CEO. A family business that has become a multinational, the Pernod-Ricard group (born from the merger in 1975) is today the world's number 2 in the drinks and spirits sector. The group has developed an external growth model based on decentralized decision-making with the acquisition of Irish Distillers in 1988, Orlando Wyndham in 1989, the Cuba Ron joint venture in 1993, Seagram (Chivas Regal, etc.) in 2001, and the acquisition of the Pernod-Ricard Group in 2007. ) and Martell cognac, in 2005 Allied Domecq, in 2008 Vin & Sprit (with Absolut vodka), in 2014 Avion (tequila), in 2016 Black Forest Distillers GmbH (Monkey47 gin), and in 2017 Smooth Ambler and Del Maguey. With 18,481 employees (9345 in Europe 3626 in America and 5510 in Asia), 6 brand company headquarters, 23 production countries, 86 market companies (including 6 head offices) spread over 3 regions, 85% of subsidiaries having carried out at least one responsible consumption action, etc., the group is a leader in CSR, with many awards won and an ambitious 2020/2030 plan. From a commercial standpoint, Pernod Ricard has built up a unique portfolio of Premium brands of international stature. This portfolio is supported by the "Brand House" concept, a dynamic tool that enables subsidiaries to more easily prioritize marketing investments. The strategy is based on 4 axes: brand portfolio; premiumisation and luxury; innovation; and digital acceleration. In terms of CSR, the model is based on 4 axes: employee empowerment; development of local communities and involvement of partners; promotion of responsible consumption; and protection of the planet. FY18 is a very good year. Thanks to the consistent implementation of our strategy, we were able to significantly improve our performance while investing for the future. I will highlight the acceleration of our sales, the diversification of our sources of growth and the improvement of our margins. In FY19, in a geopolitical and monetary environment that remains uncertain, we will pursue our strategy and expect organic growth in Operating Income Recurring of between +5% and +7%. . Alexandre Ricard, CEO of Pernod-Ricard Group Registration document, 2018. Work to be done Using the information provided in Appendices 1 and 2 : 1. Calculate the main ratios proposed in the table in Appendix 3 2. Conduct a financial analysis. To do so, you will study wealth creation (activities and margins), solvency and liquidity, financial structure and profitability of the group 3. Analyze stock and market data. 4. What do you think of the Pernod Ricard Group as of June 30, 2018, in light of its CEO's statement