ITALY: Skyy highs drive Davide Campari in 2007
Davide Campari-Milano has posted a healthy lift in full-year net profit, with all segments delivering growth in 2007.
The Italy-based wine, spirits and soft drinks company said yesterday (18 March) that group net profit rose by 6.9% on 2006 - at actual exchange rates - coming in at EUR125.2m (US$197.3m). Net sales for the year were also up, by 2.7% at EUR957.5m.
Operating profit in the year was up by 5.3% on 2006, hitting EUR270.6m.
The company's spirits operations delivered value growth of 4.6% in the year, driven by an increase in sales for its Skyy vodka portfolio. The wines segment, meanwhile, saw growth in value terms hit 12.2%, thanks primarily to an 18.7% climb in sales of Cinzano vermouth. Soft drink sales, which are generated almost entirely in Italy, were up in organic terms by 3.5%, although the overall change was negative by 20%, due to a "negative perimeter effect" of 23.5%, following the loss of distribution rights for Lipton Ice Tea in Italy in late-2006.
In geographical terms, although sales in Italy slid by 2%, Europe saw sales in value terms generate growth of 12.8%. The Americas saw growth reach 2.6%.
"2007 was a highly successful year, with accelerating organic growth, improved marginality and excellent cash flow generation," said company CEO, Bob Kunze-Concewitz. "Looking forward, we expect our businesses to maintain its positive evolution."
Campari's board is looking to pay a dividend of EUR0.11 per share in May. The payment, which will be voted on by shareholders next month, represents a 10% rise on the dividend paid in 2006.
At the beginning of this year, Camapri finalised the purchase of an 80% stake in Cabo Wabo Tequila. The company bought the stake in the ultra premium brand from rock star Sammy Hagar for US$80.8m.
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