Campari 1st Half Sales Rose on Pricing Boost, Strong Aperitifs Performance

By Maitane Sardon

Davide Campari-Milano on Wednesday said sales rose in the first half thanks to the strong performance of aperitifs, tequila and premium bourbon as well as price increases put in place during the period.

The Italian distiller booked adjusted earnings before interest and taxes of 359.7 million euros ($397.7 million), up from EUR310.9 million a year earlier.

First-half sales came to EUR1.46 billion, rising 14% on-year organically, driven by the robust performance of aperitifs, tequila and premium bourbon as well as price increases, Campari said.

The group's net profit rose 9% to EUR216.9 million from EUR199.1 million in the same period last year.

"Looking at the remainder of 2023, we remain confident of the positive business momentum across key brand-market combinations, reflecting business seasonality and expected normalisation in volume growth, thanks to strong brand equity and continued strength in the on-premise," Chief Executive Bob Kunze-Concewitz said.

The maker of Aperol and Campari aperitifs still expects a flat adjusted operating margin for the year.

Write to Maitane Sardon at [e-mail]

(END) Dow Jones Newswires

July 26, 2023 05:23 ET (09:23 GMT)

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