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Gruppo Campari net sales grew 13% in first half of 2013

DBR Staff Writer Published 07 August 2013

Gruppo Campari, an Italy-based beverage industry producing wines, spirits and soft drinks, has reported net sales of €698.6m in the half year ended 30 June 2013, up 13%, compared to net sales of €618.3m in the same period in 2012.

The increase in net sales was due to positive organic sales performance in second quarter (Q2) of 2013, which saw a growth of 1.4%.

Net profit for the group was down by 26.1% from €77.9m in first half of 2012 to €57.6m in 2013.

Gruppo Campari CEO Bob Kunze-Concewitz said the first half of 2013 results were in line with expectations, thanks to the return to positive organic performance in the second quarter driven by the sustained growth in North America, Russia and Argentina as well as the stabilization or improvement of trends in other developed markets (particularly Italy and Germany).

"The aperitif business proved its resilience, although it was affected by very adverse weather conditions," Kunze-Concewitz added.

"Following the negative impact of the one-off destocking in Italy in the first quarter of 2013, the overall performance in first half of 2013 was also affected by a disproportional concentration of non-recurring charges which reflected the decisions of the Group to accelerate on restructuring projects to strengthen the business in the medium term.

"Looking forward, whilst the Group's overall trading environment should remain volatile due to macroeconomic difficulties in key markets, we expect the business to continue improving gradually over the second half of 2013, driven by sustained brand building across key brand-market combinations and the strengthening resonance of the brand portfolio in new geographies."