just the Preview – Gruppo Campari Q2 & H1
Gruppo Campari announces its H1 results tomorrow
Tomorrow, (6 August), Gruppo Campari will report its second-quarter and first-half results. Here, just-drinks takes a look at how the Milan-headquartered company has fared in the three months to the end of June.
- Early in the quarter, Campari was linked with a potential purchase of a stake in India's John Distilleries. Local reports suggested that the Indian firm was mulling a stake sale. The reports added Beam Inc, William Grant & Sons and ThaiBev to the list that also featured Campari. The Italian firm did not comment on the reports.
- In mid-May, during the conference call covering the Q1 figures, company CEO Bob Kunze-Concewitz launched an attack on an unnamed vodka brand that he argued was pulling down prices in the US. The brand was responsible for leaving vodka pricing in the country in a "volatile" condition. While Kunze-Concewitz did not name the brand directly, he dropped enough hints to clarify which vodka was the focus of his ire.
- In late-May, Campari appointed a new managing director for Asia Pacific after the previous MD left the company to "pursue personal interests".
- In mid-June, the company prepared its recently-purchased Sagatiba cachaça brand for a return to the US. Campari bought Sagatiba in 2011 for US$36.3m.
- Finally, right at the end of June, the company spent $18.6m on snapping up Copack Beverage A Limited Partnership in Australia. Copack has been the supplier of Campari's Wild Turkey range of RTDs in Australia since 2010.
In the first three months of 2013:
- Pre-tax profits tumbled by 25.4% to EUR39.4m (US$51.2m)
- Net sales rose by 12.9% to EUR279.3m
- Operating profits fell by 17.6% to EUR51.5m
For a full round-up of just-drinks' coverage of Campari's Q1 performance, click here.
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