Campari, Helped By A Strengthening Dollar, Shows Robust Growth in First Quarter

Gruppo Campari reported a 13.4% rise in sales to €327.4 million ($368m) for its first quarter ended March 31, representing organic growth of 4.2%. The performance was driven by the strengthening of the US dollar, whose value rose 21.6% during the period.

The Americas region, which comprised 43.9% of group net sales in the first quarter, saw sales of €143.9 million ($161.7m), up 19.4% overall and 4.8% organically. Wild Turkey was up 10.6% in the Americas, and the company’s Jamaican rum portfolio was up 70%. The company said Skyy vodka “stabilized thanks to a recovery of the core brand, offsetting a slowdown in the Infusions range driven by category weakness.”

The group’s total pre-tax profit was €35.8 million ($40.2m), up 72.8% from the year-earlier period. EBITDA increased 30.5% to €60.1 million ($67.5m). EBITDA before one-offs was up 19.4% to €56.2 million ($63m), representing 17.2% of sales. EBIT before one-offs was up 16.1% to €44.5 million ($50m), representing 13.6% of sales. The group’s gross margin in the first quarter increased by 14.7% to €166.2 million ($186.6m) up 4.7% organically and representing 50.8% of sales.

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Tagged : Gruppo Campari, Skyy, Wild Turkey

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