Campari sees double digit growth as momentum growsBy Arabella Mileham
Italian aperitif and spirits company Campari has reported double-digit growth in the first half of 2021, with strong brand momentum on the back of sustained home consumption and gradual on-premise reopening.
The drinks group saw net sales of €1,000.8 million, a 37% increase on the first half in 2020, or 22% higher than the first half of 2019, prior to the pandemic.
Net profit across the group was €156.8 million (adjusted), a rise of 101.9% – although this excluded net positive adjustments of €2.8 million. Meanwhile debt fell by €39.0 million to €1,064.8 million, down from €1,103.8 million in December 2020. The company, which is celebrating 20 years on the Stock Exchange this year, noted that its shareholder return “significantly” outperformed the market index and others in the drinks industry.
The adjusted EBIT (earning before interest and tax) was recorded at €223.2 million, a rise of 88.7% on the previous year, and 33.3%, higher than the first half of 2019.
Chief executive officer Bob Kunze-Concewitz, said the double-digit growth was seen across the group’s key markets and brands, as well as across all performance indicators and he remained confidnet in the momentum.
“These positive trends accelerated in the peak second quarter, thanks to sustained home consumption trends combined with the gradual on-premise reopening as well as the amplification by an easy comparison base, ” he said. “Whilst uncertainty linked to the spread of Covid variants and the possible reintroduction of new restrictive measures persists, we remain confident about the continued strong brand momentum, fuelled by sustained marketing investments, accelerating in aperitifs peak season.