News

ITALY: Gruppo Campari sees Americas drive H1 numbers

Most popular

Mangrove MD warns of coronavirus impact on spirits

Advice for brewers in the time of COVID-19

Coronavirus special - US Distilled Spirits Council

Provenance and quality not enough for spirits - II

Over the influence? The future of social media

MORE
  • H1 net profits rise by 3.5% to EUR77.9m (US$95.2m)
  • Net sales in six months to end of June increases by 5% to EUR618.3m
  • Operating proits follow suit, up by 5% to EUR143.8m
  • European travails offset by strong showing in Americas

Gruppo Campari has maintained its steady start to 2012 with single-digit rises across sales and profits in the first half of the year.

//i4.aroq.com/1/campari.jpg

Net profits in the six months to the end of June climbed by 3.5% to EUR77.9m (US$95.2m), the Italian company said today (3 August). Net sales rose by 5% to EUR618.3m and operating profits also increased by 5%, to EUR143.8m, over the same period.

Sales in the Americas, a region that accounts for about a third of Campari's revenues, jumped by 9.6% (7.2% organically), driven by a 13.2% organic increase in the US. All key brands in the US, which accounts for about 22% of Campari's total revenue, registered forward growth, Campari said, with the Wild Turkey and Skyy franchises performing well.

Europe, excluding Italy, posted a 2.1% sales decline in H1 compared compared to the year earlier, with CEO Bob Kunze-Concewitz blaming the implementation of a new sales platform in Russia and a commercial dispute in Germany.

A weakening consumer confidence in Italy saw Italy post a slim 1.4% sales increase, said Kunze-Concewitz, who remained optimistic.

“Whilst we do not expect any improvements in the tough overall trading environment in the most challenging markets, we expect to maintain a good balance between potential upsides and downsides,” he said. “Positive momentum in North America and Asia Pacific with a return to normal trading conditions in Russia and slow but gradual resolution of the trade dispute in Germany should help compensate for a very challenging environment in Italy and South America.”

Sales in Brazil dropped by 14.2% organically in H1 results. Campari said the fall was driven by destocking and a slowdown in beverage consumption, especially in its local brands.

Of Camapri's core brands, Aperol posted organic growth of 1.7% while Skyy sales grew by 11%. Meanwhile, Wild Turkey jumped by 22%.

Tequilas registered a strong overall sales growth of 41.4%, driven by Espolón and Cabo Wabo in the US.

To read the company's official statement, click hereCampari's Q1 results are covered here.

To read just-drinks' coverage of Gruppo Campari's H1 conference call, click here.


Related Content

How did Campari perform in H1 2019? - results data

How did Campari perform in H1 2019? - results data...

Growth trend continues for Gruppo Campari in YTD 2017 - results

Growth trend continues for Gruppo Campari in YTD 2017 - results...

Campari Group delivers solid H1 2018 as US, Australia underpin 5% sales rise - results data

Campari Group delivers solid H1 2018 as US, Australia underpin 5% sales rise - results data...

How did Campari perform in Q3 2019? - results data

How did Campari perform in Q3 2019? - results data...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?