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Campari Group delivers resilient performance in Q2 despite product streamlining

Campari highlighted group net sales of €1.53 billion in the six months to 30 June, representing organic growth of 0.1%.

Simon Hunt, CEO of Campari Group, commented: ‘While the backdrop continues to be volatile, our performance remains on-track and we have made good progress on our strategic priorities as planned. We recorded a positive organic topline growth in Q2, as expected, in early peak season. In terms of sell-out, our outperformance is continuing across most geographies with further improvement in Q2, driven by aperitifs and tequila."

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Interestingly, the UK was a standout performer in the EMEA region, delivering double-digit organic sales growth largely driven by Aperol and Aperol Spritz.

Meanwhile, France, Germany and Italy delivered more modest results, with the Italian market noticeably flat for both Campari and Aperol.

Tequila, however, performed strongly in the US, led by healthy demand for Espolòn Blanco and Reposado.

By contrast, sales of Champagne and Cognac were relatively flat in the first half of 2025, although Courvoisier and Lallier performed more positively in the second quarter, particularly in the UK and US.

"Looking forward, we confirm that our previously provided guidance for 2025 remains our target, before the impact of US tariffs, and the third quarter will be fundamental for clearer visibility," said Simon Hunt.

"We remain confident in the delivery of long-term sustainable growth and improvement in our balance sheet indicators including our commitment to sustainable cash flow generation and deleverage. The sale of Cinzano vermouth and sparkling wines and Frattina businesses for €100 million marks a key step in our strategy of streamlining our portfolio to increase focus on our key core brands, also with a view to ensure balance sheet deleveraging."

• Spirits
• Campari Group
• Q2 results
• Simon Hunt