Campari Accelerates In Second Quarter, With H1 Sales Up 37%July 27, 2021
Campari Group posted a strong set of results for its fiscal first half ended in June this morning, with net sales up 37% organically to €1 billion ($1.18b) and adjusted EBIT jumping 89% to €223 million ($263m). According to the company, the “positive trends accelerated in the peak second quarter, thanks to sustained home consumption trends combined with the gradual on-premise reopening.” While Campari benefited from a relatively weak comp against last year’s second quarter, its sales were also up a robust 22% compared with the same period in 2019.
In the U.S., Campari’s largest market, sales rose 29% in the first half, with Espolòn, Grand Marnier, and its Jamaican rums showing strong double-digit growth, and Aperol and Campari accelerating in the second quarter amid the gradual on-premise reopening. Grand Marnier, which was up 52% globally in the first half, was up strongly in the core U.S. and Canadian markets, boosted by the ongoing trend toward home cocktailing and its emphasis on the Grand Margarita cocktail. Skyy, meanwhile, was up 1.5% in the U.S. for the first half.
“Whilst uncertainty linked to the spread of Covid variants and the possible reintroduction of new restrictive measures persists,” said Campari CEO Bob Kunze-Concewitz, “we remain confident about the continued strong brand momentum, fueled by sustained marketing investments, accelerating in aperitifs’ peak season.” Campari also noted that it’s celebrating its 20th anniversary as a listed company this month, with its market cap now 15 times larger than it was upon its IPO, reaching €13 billion ($15.4b).—Daniel Marsteller
|Campari America—Top 10 Brands
(thousands of 9-liter case depletions)
|4||Grand Marnier||French Liqueur||528||540||2.3%|
|5||Wild Turkey American Honey||Flavored Whiskey||442||454||2.7%|
|Total Top 10||5,339||5,790||8.4%|
|Total Campari America||5,489||5,922||7.9%|
|1 Includes Wray & Nephew.
Source: IMPACT DATABANK © 2021