Italy’s Campari Sees First Half Sales Up 19%

By: Trademagazin editor Date: 2022. 07. 28. 07:59

Italian drinks group Campari posted a 19% rise in like-for-like sales in the first six months of the year, but warned that temporary supply constraints could affect shipments in the second half.

The rise was spurred by a full recovery of sales in restaurants and bars in Europe after the pandemic, good weather and pricing

The maker of Aperol and Campari bitters said in a statement that so called organic revenue rose to €1.26 billion ($1.28 billion) in the first six months of the year, slightly ahead of market forecasts of around €1.22 billion. The rise was spurred by a full recovery of sales in restaurants and bars in Europe after the pandemic, good weather and pricing, Campari said.

Sales of Aperol, which is the group’s best-selling product and the key ingredient for the Spritz cocktail, rose 37%.

Adjusted operating profit in the January-to-June period rose 28% on an organic basis, which excludes the effects of acquisitions, to €310.9 million, with margins widening to 24.7% from 22.3% a year earlier. However, chief executive Bob Kunze-Concewitz said that input and logistics costs have been increasing throughout the year.

Campari said that in the second half it expects to keep benefiting from a positive exchange rate effect and aimed to weather inflationary pressures via planned price increases and operational efficiencies.

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