Italian spirits firm Gruppo Campari reported a €1.27bn in revenue for the nine months to the end of September, an 8.1% increase over the previous year.
The company behind brands such as Campari, Skyy vodka, Aperol, among others credits its sales growth to the performance of its high margin global and regional priority brands as well as a slightly positive exchange rate effect of 0.3%, driven by the progressive strengthening of the Euro against many of the group’s trading currencies.
The company said it also benefitted from the combined perimeter effect of the Grand Marnier acquisition in July 2016, the termination of some distribution agreements and the sale of non-core businesses.
Group Pre-tax profit rose 81.1% to €238.2m from €131.5m in the previous year.
The company said that the Americas region, which makes up 44.5% of group sales led with a 15% sales growth, driven by a 4.2% organic growth in the United States, the region’s largest market accounting for 27.5% of group sales.
Sales in Southern Europe, Middle East and Africa, which contributes 29.8% of group sales, declined 0.3% overall. However, there were some bright spots in the region, with the Italian market showing a 2.7% revenue growth, while the region’s other markets performed strongly, driven by good results in Spain, South Africa and France, which helped offset the group’s declines in Nigeria, which has been held back by macroeconomic factors.
North Central and Eastern Europe sales grew by 8.3%, helped by an exchange rate effect of 0.4%, while sales in Asia increased by 5% overall.
Looking forward to the end of the year, Bob Kunze-Concewitz, Chief Executive Officer, Gruppo Campari said “We delivered very good results in the first nine months of 2017, delivering sustained growth, both in organic and reported terms, across all performance indicators.”
He added that the group’s outlook remains fairly balanced and unchanged, adding that the group is confident in achieving a positive performance across key indicators despite macroeconomic uncertainties in some key emerging markets which is fueling the volatility of major currencies against the Euro.
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