Campari Group reveals double digit sales growth for 2022
Aperol owner the Campari Group has posted organic sales growth of 16.4% for its 2022 financial year, boosted by strong performance in the United States.
Campari Group’s net sales for the year ending December 2022 totalled €2.69 billion (US$2.87bn), marking 24.2% growth on a reported basis.
“In a challenging 2022, we continued to make solid progress in pursuing our long-term growth strategy focusing on sustainable brand building, as well as portfolio enhancement via attractive acquisitions”, commented Bob Kunze-Concewitz, chief executive officer.
“Compared with the pre-pandemic period, our net sales grew by 40% organically thanks to strong brand health, pricing, as well as enhanced commercial capabilities driving strong consumer demand.”
Mr Kunze-Concewitz said the firm remained confident about its outlook in 2023, citing “positive business momentum across key brands and markets,” particularly among its aperitif brands.
Campari Group’s largest market, the United States, grew 14% in 2022 thanks to momentum in the on-trade and the continued trend for at-home drinking.
Espolòn Tequila, Wild Turkey Bourbon, Russell’s Reserve, Aperol, and Campari performed particularly well in the US, ably abetted by price increases and resilient consumer demand.
Sales in Southern Europe, the Middle East and Africa grew by 18.2%, with key market Italy up 15.4% thanks to good summer weather and price increases.
The craze for Aperol in the United Kingdom helped Campari Group to 13.7% growth there.
While growth was consistent across many key markets, one notable exception came in the form of China, which was beleaguered by Covid restrictions for much for the year.
Mr Kunze-Concewitz said, “Looking at the medium term, we remain confident to continue delivering strong organic topline growth and mix improvement leading to margin expansion. To satisfy future demand, we are accelerating our investments in supply chain with the aim to double our overall production capacity in key aperitifs, bourbon and tequila categories.”
Campari also received a remarkable unexpected boost in the form of the wildly popular Negroni Sbagliato trend that swept TikTok late last year. You can read more about how the viral trend impacted the market here.