Campari Group Q3 growth driven by aperitifs

Campari Group has released its results for the first nine months of 2022, which saw strong performance and net sales of €2,005.7 million, up +27.3% on a reported basis.

Double-digit organic growth continued into the third quarter, due to brand momentum and pricing, with performance led by aperitifs in their key peak season, benefitting from favourable weather conditions, as well as brown spirits.

Bob Kunze-Concewitz, CEO, said: “Overall, our strong topline performance continued over the key summer season thanks to strong brand momentum, continued on-premise strength and favourable weather as well as the initial impact of the price increases, which have been successfully implemented during the nine months. 

“Looking at the remainder of 2022, we remain confident about the positive business momentum with the outperformance of our key brands vs. reference markets thanks to their strong brand equity. From a shipment standpoint, we expect trends to normalise in the last quarter reflecting seasonal sales mix as well as supply chain challenges in selected areas,” Kunze-Concewitz added. 

Business development initiatives continue with the acquisition of a minority equity stake in Catalyst Spirits, as Campari Group acquired an initial 15% interest in Howler Head Kentucky straight bourbon whiskey after signing an agreement in August with the spirits brand incubator.