Campari’s U.S. Growth Offsets Soft Performance In Other Key Markets

Italy’s Gruppo Campari carved out 5.2% sales growth in 2012, to €1.34 billion ($1.74b), as solid progress in the U.S., Australia and emerging markets offset declines in key markets like Italy, Brazil and Germany. Profits, however, were down by 1.6% to €156.7 million ($203.7m), largely as a result of Campari’s acquisition of Appleton rum owner Lascelles de Mercado late last year.

In the U.S., which accounts for roughly 22% of Campari’s total sales, the company enjoyed organic sales growth of 8.6%, driven by marked increases for Wild Turkey, Skyy, Carolans and Campari’s Tequila duo of Espolón and Cabo Wabo, and also a positive exchange rate effect of nearly 9%. Wild Turkey also continues to thrive in Australia—where, as in the U.S., its American Honey extension (+45.6% globally) is broadening the brand’s appeal. Campari’s Australian sales rose by 15.2%. The company was also solidly on the rise in Russia, Argentina, Mexico, Canada, China, South Africa and Nigeria.

Campari shares, traded on the Borsa Italia, were initially down around 5% following the release of its full-year results earlier today, but the price had climbed back to around €5.90 ($7.67)—roughly 2% off its opening price—by mid-day.

Tagged : Gruppo Campari, spirits

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