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CPR - Davide Campari Milano NV News Story

€11.14 -0.3  -2.3%

Last Trade - 24/01/22

Consumer Defensives
Large Cap
Market Cap £16.87bn
Enterprise Value £17.67bn
Revenue £1.68bn
Position in Universe 21st / 737

UPDATE 1-Campari flags cost pressures after summer lifts aperitif sales

Tue 26th October, 2021 11:40am
(Adds details, background)
    MILAN, Oct 26 (Reuters) - Italian spirits group Campari
 CPRI.MI  on Tuesday flagged potential risks from rising costs
in the coming months after a rebound in aperitif consumption
boosted sales in the peak summer season.
    Shares in the Milan-based group turned negative after
results were published and were down 2.3% at 1023 GMT. The stock
had briefly touched an all-time-high of 13.10 euros in early
    The maker of Aperol and Campari bitters reported a 12.8%
rise in its like-for-like sales for the July-September period as
consumers enjoyed again drinking and dining outside. 
    Adjusted operating profit, or earnings before interest and
taxes (EBIT), came in at 137 million euros ($159.4 million), up
16% on the same period of last year when excluding forex,
acquisitions and divestitures.
    Looking to the next few months and beyond, Campari said
there were concerns about rising prices for some commodities,
including key tequila ingredient agave. It also mentioned
logistic expenses as an issue for the final part of the year.
    "We expect the positive brand momentum and favourable sales
mix to continue in the last quarter, helping to partially offset
the intensifying input cost pressure, particularly logistics
costs, accelerated brand building investments, as well as
structure costs phasing," Chief Executive Bob Kunze-Concewitz
said in a statement.  
($1 = 0.8593 euros)

 (Reporting by Francesca Landini
Editing by Keith Weir)
 ((francesca.landini@thomsonreuters.com; +39 02 66129437;
Reuters Messaging: reutersitaly.thomsonreuters@reuters.net))
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