Campari Marks a Robust Financial Upswing for the Third Year in a Row

Leading the surge on the Milan Stock Exchange's MIB index, Campari celebrated a remarkable achievement with its announcement of a third consecutive year of robust organic earnings growth for 2023. This impressive economic upturn was largely spearheaded by the flourishing sales of the company's esteemed beverages which include aperitifs, tequilas, and bourbon.

Growth Driven by Diverse Portfolio and Strong Markets

With a portfolio boasting beloved brands such as Aperol Spritz, Espolon, and Wild Turkey, Campari's 2023 success story was not just about the products, but also about the diverse markets contributing to its growth. Sales momentum in the United States, key European regions, and Asian markets significantly bolstered the company's business, reflecting a global appetite for their spirits.

Impressive Financial Performance

Organic sales growth for the full fiscal year reached an impressive 10.5%, which comfortably exceeded the market consensus of 9.9%. Additionally, the organic basis adjusted Ebitda saw an extraordinary increase of 25%, amounting to 728.9 million euros.

Outlook for 2024 Amid Economic Changes

Entering the fiscal year 2024, Campari positions itself with confidence to continue their streak of outperforming the sector. This outlook remains steadfast despite anticipating a standardization of the economic environment and facing potential challenges related to early 2023 price increases, which could affect comparatives in the first quarter.

In spite of these challenges, investor confidence soared as shares saw a notable 6.2% uptick in value by early Tuesday afternoon on Euronext Milan, signaling market optimism in Campari's financial trajectory.

growth, spirits, earnings