Campari Posts Double-Digit Sales Increase In First HalfJuly 27, 2022
Campari Group has posted sales up 19% on an organic basis to €1.26 billion ($1.28b) for its fiscal first half ended in June. Campari’s sales are up 45% versus the same period in 2019. Adjusted EBIT jumped 28% organically to €311 million ($316m) year-on-year, and has risen 68% since the first half of 2019.
Campari was boosted by a 7% sales increase in the U.S., its largest market, accelerating in the second quarter despite a challenging year-on-year comp. The company said its core brands continue to gain ground in the U.S., with Wild Turkey, Espolòn, Aperol, and Campari all showing double-digit sales growth. Grand Marnier declined “due to a tough comparison base and volumes constraints linked to glass availability,” as did Skyy, which continues to face heavy competition in the vodka category.
Looking ahead to the rest of the year, CEO Bob Kunze-Concewitz noted, “Whilst our shipment performance is expected to reflect some temporary supply constraints, we expect to partially mitigate the less favorable sales mix and the accelerating inflationary pressures exacerbated by logistics costs, via planned price increases and operational efficiencies.” Campari added that it recently completed the acquisition of super-premium vermouth brand Del Professore, founded in 2013 in Rome by a group of bartenders led by Leonardo Leuci. And on the management front, Campari has promoted Paolo Marchesini to COO in addition to his role as CFO.—Juan Banaag
|Campari America—Key Spirits Brands|
in Control States2
|Grand Marnier||Imported Liqueur||625||0.2%|
|Total Campari America||6,154||-1.1%|
|1 Thousands of 9-liter case depletions
2 Year-to-date through June
Source: NABCA and IMPACT DATABANK © 2022