Aperol drives global growth for Gruppo Campari

By Mathew Lyons

Published: 29 October, 2019

Gruppo Campari has reported strong organic sales growth of 6.9% for the nine months to 30 September.

Sales hit €1.3bn for the period, with earnings before interest and tax up 9.9% on a like-for-like basis to €288m, with pre-tax profits up 10% to €259m.

The group’s 'global priorities' brands were responsible for 59% of total sales, up 8.2% organically. Aperol was the key driver of growth, with sales rising 21.8% overall and double digit growth in Italy, Germany and the US - its three biggest markets.

'Regional priorities' brands, which accounted for 15% of Campari’s turnover, rose 5.3% on a like-for-like basis, with US tequila brand Espolòn up 24.9%.

Bob Kunze-Concewitz, chief executive of Gruppo Campari, said: “In the first nine months 2019 we achieved strong organic sales growth, despite the tough comparable base and poor weather across Northern Europe, driven by the positive underlying sales momentum in the core developed markets, particularly the aperitifs business.

“The outlook remains unchanged and fairly balanced in terms of risks and opportunities on a full year basis. We remain confident in delivering a positive performance across all key underlying business indicators.”

Sales in the US, the group’s largest market, were up 6%, despite a decline in the sales of 'global priority' brand SKYY vodka. The Americas represent 44.8% of total sales for the group.

Southern Europe, the Middle East and Africa represented 27.8% of turnover. The region posted organic growth of 8.1%, with aperitif brands driving up sales in Italy by 8.4% and Aperol and Riccadonna, in particular, lifting sales in France by 10.3%.

Despite poor weather in the group’s northern markets, sales in North, Central and Eastern Europe rose 8.3%. The UK led the way with sales growth of 27.9%, followed by Russia with 11.6% and Germany with 5.7%. Aperol enjoyed double-digit growth across the region.

In Asia-Pacific, Australia was the only territory in growth, up 3.7% on a like-for-like basis. Elsewhere sales contracted by 4.8% overall.

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