On-Premise Rebound Boosts Campari Group In First QuarterMay 3, 2022
Campari Group saw sales jump 29% organically to €535 million ($565m) in the first quarter, bolstered by a strong rebound in the on-premise that has benefited its high-margin aperitifs. Adjusted EBITDA soared 47% year-on-year to €135 million ($143m). The solid results were also helped by a relatively easy comparison and shipment phasing. Still, the quarter showed Campari’s sales up an impressive 44% since the first quarter of 2019, on a compound annual growth rate of 13%.
In the U.S., its largest market, Campari saw sales climb 6.6% in the first quarter on a tougher comp, buttressed by “resilient home consumption and renewed strength in the on-premise,” according to the company. The Espolòn, Wild Turkey, Aperol, Campari, and Cabo Wabo brands were credited with driving particularly strong U.S. growth. Aperol’s sales jumped 51% in the U.S. in the first quarter, while Skyy declined after lapping its brand relaunch from a year ago.
“Looking at the remainder of 2022, we remain confident about the continued strong business momentum across our key brands and markets,” said Campari Group CEO Bob Kunze-Concewitz. But he also acknowledged that “volatility and uncertainty remain due to the ongoing pandemic and geopolitical tensions. We will leverage adequate price increases and positive mix to mitigate the expected intensification of the inflationary pressure on input costs.”—Daniel Marsteller
|Campari America—Top 10 Brands
(thousands of 9-liter case depletions)
|4||Grand Marnier||Imported Liqueur||540||625||15.7%|
|5||Wild Turkey American Honey||Flavored Whiskey||454||490||7.9%|
|Total Top 10||5,782||5,988||3.6%|
|Total Campari America||5,922||6,154||3.9%|
|1 Based on unrounded data.
2 Includes J Wray Overproof.
Source: IMPACT DATABANK © 2022