Gruppo Campari FY 2011 Results

The Board of Directors of Davide Campari-Milano S.p.A. (Reuters CPRI.MI - Bloomberg CPR IM) approved the consolidated full year results for the year ending 31 December 2011.

Bob Kunze-Concewitz, Chief Executive Officer: ‘Full year 2011 results confirm the solid underlying trends of Gruppo Campari. The significant investments in marketing and in route-to-market, coupled with product innovation and acquisitions, further strengthened our business, broadening our development opportunities in terms of product and market combinations.

Whilst the traditionally small first quarter will be soft in 2012 due to a very tough comparison base and some isolated events, which are expected to be recovered throughout the remainder of the year, our expectations for the full year 2012 remain cautiously optimistic. Notably, we expect our strong business fundamentals to continue supporting our positive overall momentum and help overcome the challenges created by the weak macroeconomic environment, strained credit situation and business transitions. Moreover, we remain confident of the medium to long term potential of our key growth engines’.

KEY HIGHLIGHTS 2011

• Sales: € 1,274.2 million (+9.6%, organic growth +8.8%)
• Contribution after A&P: € 505.5 million (+9.0%, organic growth +6.5%, 39.7% of sales)
• EBITDA before one-offs: € 329.0 million (+10.2%, organic growth +8.2%, 25.8% of sales)
• EBIT before one-offs: € 298.7 million (+9.5%, organic growth +7.1%, 23.4% of sales)
• Group net profit: € 159.2 million (Group net profit Adjusted1: € 167.5 million)
• Net financial debt at € 636.6 million (€ 677.0 million as of 31 December 2010), after acquisitions for a total value of € 31.5 million
• Proposed dividend: € 0.07 per share, an increase of +16.7%

Full press release: http://www.camparigroup.com/en/press_media/main.jsp

1 Adjusted for all operating, financial and fiscal one-off’s and relating fiscal effects.