Italian drinks manufacturer Gruppo Campari has posted revenue growth of 8.1% in the first three quarters of the year, with sales reaching €1,275.8 million.
The company, which produces brands such as Aperol, Campari, Wild Turkey and Grand Marnier, says that this was driven by strong organic growth of high-margin global priorities (+7.4%) and regional priorities (+13.5%).
Adjusted EBITDA rose by 9.8%, to €299.3 million, while adjusted group pre-tax profit increased to €224.6 million.
"We delivered very good results in the first nine months of 2017, delivering sustained growth, both in organic and reported terms, across all performance indicators," said Bob Kunze-Concewitz, CEO of Gruppo Campari.
Performance Outlook
During the year to date, Campari divested a number of its assets, including the sale of Lemonsoda to Royal Unibrew, as well as Carolans and Irish Mist to Heaven Hill Brands.
The group says that it expects financial indebtedness to decline by the end of 2017, reflecting the sale of its non-core business and real-estate assets, alongside healthy cash flow generated by its brands.
"Looking at the remainder of the year, our outlook remains fairly balanced and unchanged," added Kunze-Concewitz.
"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 in key developed markets."
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
