Campari 1st Half Sales Rose on Pricing Boost, Strong Aperitifs Performance
26 July 2023 - 7:38PM
Dow Jones News
By Maitane Sardon
Davide Campari-Milano on Wednesday said sales rose in the first
half thanks to the strong performance of aperitifs, tequila and
premium bourbon as well as price increases put in place during the
period.
The Italian distiller booked adjusted earnings before interest
and taxes of 359.7 million euros ($397.7 million), up from EUR310.9
million a year earlier.
First-half sales came to EUR1.46 billion, rising 14% on-year
organically, driven by the robust performance of aperitifs, tequila
and premium bourbon as well as price increases, Campari said.
The group's net profit rose 9% to EUR216.9 million from EUR199.1
million in the same period last year.
"Looking at the remainder of 2023, we remain confident of the
positive business momentum across key brand-market combinations,
reflecting business seasonality and expected normalisation in
volume growth, thanks to strong brand equity and continued strength
in the on-premise," Chief Executive Bob Kunze-Concewitz said.
The maker of Aperol and Campari aperitifs still expects a flat
adjusted operating margin for the year.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
July 26, 2023 05:23 ET (09:23 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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