Registration Document - Pernod Ricard

5 Special
152
PERNOD RICARD SA FINANCIAL STATEMENTS
Statutory Auditor’s Report on regulated agreements and commitments
In respect of 2008/2009 Pernod Ricard billed Pernod Ricard Finance
€6,799,115.
Joint and several guarantee commitments
Agreements with Pernod Ricard Finance
Pernod Ricard has given an irrevocable and unconditional guarantee
to holders of Pernod Ricard Finance commercial paper, for which
it charges a fee. The sum guaranteed, at 30 June 2009, averaged
€173,013,880.
Pernod Ricard billed €183,152 in fees for the financial year ended 30
June 2009.
Agreements with Comrie
Pernod Ricard acts as guarantor to Société Générale for loan notes in
respect of Comrie totalling €54,184 at 30 June 2009.
Brand agreements
Brand licensing agreements
(i) Brand licences granted to Ricard
Since 1 January 2004, Pernod Ricard has granted Ricard SA a number
of brand licences. Pernod Ricard billed Ricard SA €23,097,140 in
respect of these licences for 2008/2009.
(ii) Brand licences granted to Pernod
Since 1 January 2004, Pernod Ricard has granted Pernod SA a number
of brand licences. Pernod Ricard billed Pernod SA €11,572,795 in
respect of these licences for 2008/2009.
(iii) Brand licences granted to Cusenier
Since 1 January 1996, Pernod Ricard has granted Cusenier a number
of brand licences. Pernod Ricard billed Cusenier €695,118 in respect
of these licences for 2008/2009.
PERNOD RICARD
Neuilly-sur-Seine and Courbevoie, 3 September 2009
The Statutory Auditors
Operating license concessions
The Company entered into a concession arrangement with Ricard SA
in respect of the international operating rights related to the Dorville
brand, commencing in October 2002. Royalties paid under this
arrangement for 2008/2009 amounted to €14,640.
Advances, loans and borrowings
Netting agreement
with Pernod Ricard Finance
Pernod Ricard has an agreement with Pernod Ricard Finance
governing the monthly offsetting of intragroup payments, known as
Pernod Ricard netting, which took effect from 30 June 2008. Under
this agreement, Pernod Ricard Finance is mandated to manage the
appropriate cash transactions on behalf of the companies that are
signatories to the agreement. All transactions related to Pernod
Ricard netting are carried out at market terms.
Pernod Ricard Finance billed a €9,500 netting management fee under
this agreement in respect of 2008/2009.
Agreements with Pernod Ricard Finance
Pernod Ricard signed a cash-pooling agreement with Pernod Ricard
Finance, effective since 1 January 2004, designed to bring within a
single agreement all the pre-existing bilateral treasury agreements
between Pernod Ricard Finance and other Pernod Ricard Group
companies that are not integrated into the automated cash pooling
mechanism, to standardise them, and to update and specify the terms
and conditions relating to interest charges on loans and borrowings
under the cash pooling mechanism.
An interest expense of €55,928,478 payable to Pernod Ricard Finance
was recognised in respect of this agreement for 2008/2009 as well as
a cash management fee of €3,000.
Deloitte & Associés Mazars
Alain Penanguer Loïc Wallaert
I REFERENCE DOCUMENT 2008/2009 I