Campari announces +6.8% sales growth for 2017

Italian drinks group Gruppo Campari has announced ‘very good results’ for the first half of 2017 with total sales reaching €844.7m, an organic growth of 6.8%.

The company experienced sustained growth across all performance indicators and CEO Bob Kunze-Concewitz blamed the success on good results in the second quarter of 2017.

“We delivered very good results in the first half of 2017, delivering sustained growth, both in organic and reported terms, across all performance indicators,” said Kunze-Concewitz.

“The solid organic growth was achieved after an acceleration in the second quarter of both sales and profitability.”

As well as global priorities increasing 9.2% and regional priorities boosting 11.5%, the group also announced the disposal of the Grand Marnier headquarters in Paris for €35m.

In July 2017 Gruppo Campari signed an agreement for this sale after the asset had entered the perimeter of Gruppo Campari due to the acquisition of Société des Produits Marnier Lapostolle S.A. in 2016.

Campari says the transaction is in line with the group’s strategy to streamline the non-core businesses, and the overall value of the sale non-core assets is approximately €85.8m.

Kunze-Concewitz added: “Looking into the second half of the year, our outlook remains fairly balanced and unchanged. 

“Macroeconomic environments in some emerging markets remain uncertain whilst the political uncertainty persisting in some regions might continue fuelling the volatility of major currencies against the Euro.

“Moreover, we believe that the progressive strengthening of the Euro against the US dollar may have a more adverse impact in the second half of the year. 

“Nevertheless, we remain confident in achieving a positive performance across key indicators for the year, driven by the outperformance of the high-margin global and regional priorities.”