Campari has recorded a 14.2% increase in like-for-like revenues in the first half of this year with double-digit growth wideness all regions.
The results, particularly boosted by sales of aperitifs, Tequila and premium Bourbon, were markedly led by growth from Asia Pacific which saw a lift of 26.2% and saw a uplift in particular wideness South Korea, Japan, China and India.Sales in the Americas grew by 11.7%, but slipped when to 3.3% in the second quarter reflecting what the group cited as “expected shipment phasing reversal” as well as the destocking in Grand Marnier. The positive performance in the first half was mainly driven by the strong growth of Aperol, Espolòn, Appleton Estate, as well as Russell’s Reserve, equal to Campari. Meanwhile, Jamaica registered double-digit growth driven by Magnum Tonic and the rum brands Appleton Estate and Wray & Nephew. “The rest of the region was overall positive, with growth in Brazil and Mexico offsetting weakness in other markets,” the group revealed.In Southern Europe, the Middle East and Africa, sales grew by 16.6%. The region’s largest market, Italy, was up 13.4% with a very positive second quarter (up 8.1%) driven by Aperol, Campari, Campari Soda and Crodino. France delivered strong growth of 21%, driven by cadre Aperol and Campari as well as Riccadonna sparkling wine and Lallier. Showing that world travel is standing swiftly since the pandemic, Campari’s sales wideness the global travel retail sector (GTR) were up 49.8% showing good momentum in brands including Aperol, Campari, SKYY and Frangelico.Campari likewise noted that North, Central and Eastern Europe grew by 14.5%. Within this, Germany registered a strong growth of 16.4% driven largely by Aperol, Aperol Spritz ready-to-enjoy, Campari and its latest innovation trademark the new aperitif Sarti Rosa. Meanwhile, the UK grew by 20.9% mainly driven by the unfurled positive trends in Aperol, Magnum Tonic, Campari and Wray & Nephew rum. Speaking well-nigh the results, Campari CEO Bob Kunze-Concewitz said: “Looking at the remainder of 2023, we remain confident of the positive merchantry momentum wideness key brand-market combinations, reflecting merchantry seasonality and expected normalisation in volume growth, thanks to strong trademark probity and unfurled strength in the on-premise.”Kunze-Concewitz explained: “Regarding margins, we expect the trends to reflect the sales mix evolution, variegated comparison bases for pricing effects as well as the initial easing effects on input financing inflation, slantingly the phasing of A&P (advertising and promotional expenses) and unfurled sustained investments to strengthen the group’s commercial capabilities.”Kunze-Concewitz widow that “in the medium term” the group remains “confident of standing to unhook strong organic topline and margin expansion leveraging mix resurgence as well as input forfeit inflation normalisation”.
