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Campari Group 2017 - results data

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In late-February, Campari Group released its results for the 12 months of 2017. Sales in the year increased by 6.3%, although the Asia Pacific reporting division came in flat. Here, just-drinks breaks down Campari's figures for the full-year by region.

Campari Group 2017 - Sales versus 2016

20162017
Fourth Quarter546.1540.1
Third Quarter436.5431.2
Second Quarter416.5468.1
First Quarter327.4376.6

Source: Company results

The group has the first half to thank for its sales performance in 2018. In the six months to the end of June, the top-line jumped 13.5% in reported terms - +6.8% organic. Of note, however, will be the slight declines in both the third and the final quarters. Indeed, in reported terms, sales in the second half dipped by 1.2%.

Campari Group 2017 - Sales by Region

AmericasSouthern Europe, Middle East & AfricaNorth, Central & Eastern EuropeAsia PacificTotal
2016726.3532.8343.9123.51726.5
2017794.2536.3361.1124.41816

Source: Company results

  • Americas - 43.7% of group sales - +7.6% to EUR794.2m

Campari's largest market, the US, was up 3.4% in 2017, thanks predominantly to Wild Turkey, Espolòn and Cabo Wabo Tequilas, the group's Jamaican rum portfolio and Grand Marnier. Flagship brands Aperol and Campari both posted double-digit growth in the country. Heading in the other direction in the US was Skyy vodka, which was down in the year due to "strong competitive pressure, reduced innovation in infusions and difficult Q3 trading as hurricanes affected two key states for the brand".

In Jamaica, the top-line increased almost 10%, with Campari up double digits. Brazil was up by just under 5%, with Canada increasing sales 3.2%. 

Mexico and Peru both had excellent 2017s, with both markets growing sales by double digits.

  • Southern Europe, Middle East & Africa - 29.5% of group sales - +5.6% to EUR536.3m

Italy, which accounts for just under 22% of Campari's total group sales, was up 2% last year, with credit going to Aperol, Campari and Crodino. France posted a double-digit jump, as did Spain, while South Africa delivered some "very satisfactory results". Nigeria was also credited with positive growth, thanks to Skyy and Wild Turkey American Honey. Meanwhile, Campari's Global Travel Retail business increased sales by 8.5% with, among others Bulldog gin gaining mention.

  • North, Central & Eastern Europe - 19.9% of group sales - +7.2% to EUR361.1m

NCEE's largest market, Germany, was down in 2017 by 2.6% with a poor summer being blamed, along with "low-margin brands" Cinzano sparkling wine and vermouth as well as Campari's agency brands. Russia soared in the year, with a sales increase of 40.6%. Mondoro, Cinzano, Aperol, Espolòn and Wild Turkey were credited with driving the performance in the country.

Also having done well was the UK, where sales were up 13.8%.

  • Asia Pacific - 6.9% of group sales - -0.8% to EUR124.4m

Much as reported sales from Asia Pacific inched up by 0.8%, the group will not be happy with the region's performance last year, dipping by almost 1% in organic terms. Although China delivered growth, driven by Glen Grant, Skyy and Wild Turkey, this was "completely offset" by the rest of Asia, Japan in particular, as changes in route-to-market pulled on performance. Subsequently, Asia was down 1.4%.

Australia was flat in 2017, with the Wild Turkey RTD iteration struggling against "persistent competitive pressure in the category". The group also battled with a "slow start" to the year in the country as a result of poor weather conditions.


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