Campari’s Sales Pick Up Pace In Third Quarter
October 30, 2025Campari Group’s net sales rose 1.5% organically to €2.28 billion ($2.64b) for the nine months through September. For its fiscal third quarter, Campari reported net sales up 4.4% on an organic basis. Adjusted-EBIT was up 1.4% organically to €517 million ($599m) for the nine months, with Q3 outperforming, rising 19.5% organically. For its full fiscal year ending in December the group is expecting “moderate organic topline growth” and a “flattish organic trend” on adjusted EBIT margin, “but now with the U.S. tariffs impact absorbed this year.”
In the Americas, which represent 44% of total sales, nine-month sales grew by 1%, with the company noting acceleration in the third quarter. In the U.S., sales were down 2% through September with Campari adding that Q2 and Q3 growth of 3% and 1%, respectively, was offset by destocking in Q1. The company attributed the positive trends to growth in Espolòn, Courvoisier, and Wray & Nephew Overproof. For the group’s aperitifs, the Campari brand saw growth which offset “inventory alignment post-tariff volatility in Aperol in Q3.”
Campari Group’s net sales rose 1.5% organically to €2.28 billion ($2.64b) for the nine months through September. For its fiscal third quarter, Campari reported net sales up 4.4% on an organic basis. Adjusted-EBIT was up 1.4% organically to €517 million ($599m) for the nine months, with Q3 outperforming, rising 19.5% organically. For its full fiscal year ending in December the group is expecting “moderate organic topline growth” and a “flattish organic trend” on adjusted EBIT margin, “but now with the U.S. tariffs impact absorbed this year.”
In the Americas, which represent 44% of total sales, nine-month sales grew by 1%, with the company noting acceleration in the third quarter. In the U.S., sales were down 2% through September with Campari adding that Q2 and Q3 growth of 3% and 1%, respectively, was offset by destocking in Q1. The company attributed the positive trends to growth in Espolòn, Courvoisier, and Wray & Nephew Overproof. For the group’s aperitifs, the Campari brand saw growth which offset “inventory alignment post-tariff volatility in Aperol in Q3.”
Campari’s brands remain resilient in U.S. control states, with Espolòn up 9.3%, Wild Turkey up 4.3%, Aperol up 10.7%, and Campari essentially flat in the first half of the year. Campari Group CEO Simon Hunt recently spoke at the 49th Annual Impact Marketing Seminar in New York, and was bullish that there remain opportunities for growth despite industry headwinds.
“In an ongoing challenging backdrop, we recorded a resilient organic sales growth of +4.4% in the third quarter and we remain on track,” Hunt said in a statement announcing the Q3 results. “This was achieved through our commercial execution and pricing discipline, which has delivered outperformance in sell-out across most geographies where we are continuing to gain share.”
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