Campari reports robust sales growth amid strong brand momentum

  • Stock Market News
Campari reports robust sales growth amid strong brand momentum
Credit: © Reuters.

Italian spirits producer Davide Campari-Milano reported a year-on-year sales increase for the first three quarters of 2023, driven by strong brand momentum in aperitifs, tequila, and bourbon. The sales figures hit EUR 2.20 billion ($2.32 billion), marking a 9.8% rise with all regions contributing organically, particularly the Americas.

Earnings before interest and taxes (EBIT) climbed to EUR 491.1 million ($518.9 million), from EUR 466.1 million in the same period last year. The growth in EBIT reflects the strong performance of the company's portfolio, even amidst economic challenges.

CEO Bob Kunze-Concewitz expressed optimism about the company's future prospects, anticipating continued brand strength and positive pricing. He also expects normalization of volume growth and a flat organic adjusted EBIT margin for 2023.

However, Kunze-Concewitz highlighted potential risks such as a weakening U.S. dollar and fluctuating key emerging market currencies including the appreciating Mexican Peso. Despite these challenges, he remains confident in the company's ability to maintain its growth trajectory.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or