Acquisition of 70% of Wilderness Trail Distillery came just one day after Campari Group reported net sales surged 27.3% (organic 19%) in the first nine months from a year earlier.
Bob Kunze-Concewitz, CEO: "Overall, our strong topline performance continued over the key summer season thanks to strong brand momentum, continued on-premise strength and favorable weather as well as the initial impact of the price increases, which have been successfully implemented during the nine months," said Bob Kunze-Concewitz, CEO.
Sales in the Americas (45% of total Group sales) were up organically +18.7%. The Group’s largest market, the U.S., grew 14.6%, thanks to continued positive momentum in the on-premise and resilient home consumption, benefitting also from pricing effects, as well as some recovery in wholesaler inventory levels for Espolòn to avoid
out of stocks. Wild Turkey bourbon, Espolòn, Aperol and Campari all grew double digits in the nine months.
Grand Marnier shipments to the Americas were slightly negative in the nine months, despite a partial recovery in the third quarter, due to
continuing glass constraints. SKYY also declined. Canada grew by +7.0%. The rest of the region, including Jamaica, Brazil, Mexico and Argentina, grew by strong double digits thanks to good consumption trends.
"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 normalize in the last quarter reflecting seasonal sales mix as well as supply chain challenges in selected areas," the executive said.
He confirmed Campari's full-year guidance of flat organic margin in EBIT-adjusted. "Regarding the exchange rate effect, we expect a continued positive contribution driven by the U.S. dollar. Looking at the medium term, we remain confident in the strength of our brands, enabling adequate pricing actions, to navigate through the current challenges," he said.