Campari posts resilient Q3 as organic sales rise 4.4%
Davide Campari Milano has announced encouraging third-quarter results, with organic sales up 4.4% despite profit pressures. The group reaffirmed its confidence in long-term growth, supported by strong brand performance and cost-efficiency efforts.
For the first nine months of 2025, the Milan-based group generated net sales of €2.28 billion, which reflected organic growth of 1.5% and overall growth of 0.2% compared to 2024. The company said its third-quarter sales surge underlined the resilience of the company’s performance.
Profit dip but outlook steady
Profit before tax fell to €397.9 million from €417.2 million a year earlier, while adjusted profit declined to €439.5 million from €446.3 million.
The company predicted moderate organic growth in net sales and stable adjusted earnings margins for the rest of this year and revealed that the impact of US tariffs on its business would be lower than originally feared. It now believes they will cost it €15 million compared with previous predictions of up to €45 million in a full year.
Growth targets
In the medium term, despite the almost obligatory reference to challenging headwinds, the group reaffirmed its target of mid- to high-single-digit organic growth, supported by the strength of its core brands and cost-efficiency initiatives.
“We remain fully confident in the delivery of long-term sustainable growth and continuous financial deleverage,” Campari chief executive Simon Hunt said in a statement.
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Brand performance
Encouragingly, net sales in the Americas, which comprise 44% of the group’s business, rose by 9% in the nine months to September.
Europe, the Middle East and Africa saw sales increase by 2% with the UK chalking up a double-digit increase in sales, picking up momentum in the third quarter, led by Aperol and Aperol Spritz.
The company said that Courvoisier Cognac, which was only fully incorporated into the portfolio in May, was enjoying a positive net impact in the UK as well as showing early promising signs in China.
Portfolio streamlining
Hunt said that following the disposal of its interest in the Tannico e-commerce platform, Campari was continuing “to explore other disposal opportunities”.
Looking to the medium term, the group reaffirms its target of mid- to high-single-digit organic growth, supported by the strength of its core brands and cost-efficiency initiatives.
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