Campari reports robust sales growth amid strong brand momentum

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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.

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