- Solid +2.4% organic top-line growth in a year marked by macroeconomic and geopolitical volatility leading to impact on consumption patterns and trade while post-Covid rebasing continued, exasperated by poor weather, especially in Europe
- Profitability impacted by more moderate top-line performance and already committed business investments
- In 2025, focus on reinforcing our existing brand portfolio and business via new operating model and efficiency program in a transition year. Looking ahead, confidence in continued outperformance and market share gains leveraging strong brands in growing categories
- Solid progress in sustainability agenda towards ambitious targets
- Proposed full year dividend of €0.065 per share, stable compared to the previous year
- Proposal for appointment of the Board of Directors of Davide Campari-Milano N.V. for the next three-year period
Milan, March 4th, 2025-The Board of Directors of Davide Campari-Milano N.V. (Reuters CPRI.MI-Bloomberg CPR IM) approved Campari Group's Annual Report for the year ended December 31st, 2024.
FULL YEAR 2024-RESULTS HIGHLIGHTS
2024 was marked by macroeconomic and geopolitical volatility simultaneously affecting all regions and leading to impact on consumption patterns and trade including destocking while the post-Covid rebasing continued. This was exasperated by poor weather conditions, especially in Europe. In spite of this challenging backdrop, Campari Group again delivered positive results with +2.4% organic topline growth and ongoing outperformance vs competition.
In this period, profitability was impacted by continuation of investments to strengthen and expand frontline and infrastructure capabilities in a more moderate topline growth trend period. At the same time, Campari Group is evolving in terms of operating model to increase efficiency and reinforce focus on priority brands.
• Net sales €3,070 million, up +2.4% organically and +5.2% on a reported basis. The perimeter impact was +2.7% driven by Courvoisier and agency brands while FX effect was +0.1%.
• EBIT-adjusted €605 million, -2.5% organically and -2.2% on a reported basis with a margin of 19.7%.
• EBITDA-adjusted €733 million, up +0.1% organically and +0.5% on a reported basis, with a margin of 23.9%.
• Group net profit-adjusted €376 million, down -3.7% on a reported basis. Group net profit of €202 million, down -39.0%.
• Net financial debt €2,377 million, up €523 million compared to previous year largely due to the net impact of acquisitions and extraordinary investments, partly offset by strong cash flow generation. Net debt to rolling EBITDA-adjusted ratio at 3.2 times compared with 2.5 times in the previous year and 3.5 times in September 2024.
• Proposed full year dividend of €0.065 per share, in line with the previous year.
Simon Hunt, Chief Executive Officer: 'As I close the second month in this role, I am pleased to announce that Campari Group delivered positive results and outperformance vs competition again in 2024, which was a challenging year marked by the cyclical impacts of macroeconomic and geopolitical volatility. Looking forward, following a transition period in 2025, we are very confident in our ability to deliver long-term sustainable outperformance by leveraging our powerful brand portfolio, the investments made so far, especially in route to market, systems and supply chain, the unique Camparista culture and talented team. Our leadership position in aperitifs presents an ever-growing opportunity given the evolving consumer trends, which, combined with our tequila and premium spirits portfolio, also have significant potential for geographic expansion globally. At the same time, we will maximise the potential of the Group by driving efficiency and commercial execution while ensuring balance sheet and operating deleverage.'
Read full press release: https://www.camparigroup.co
m/sites/default/files/downloads/2024%20Investor%20Presentation.pdf
- Profitability impacted by more moderate top-line performance and already committed business investments
- In 2025, focus on reinforcing our existing brand portfolio and business via new operating model and efficiency program in a transition year. Looking ahead, confidence in continued outperformance and market share gains leveraging strong brands in growing categories
- Solid progress in sustainability agenda towards ambitious targets
- Proposed full year dividend of €0.065 per share, stable compared to the previous year
- Proposal for appointment of the Board of Directors of Davide Campari-Milano N.V. for the next three-year period
Milan, March 4th, 2025-The Board of Directors of Davide Campari-Milano N.V. (Reuters CPRI.MI-Bloomberg CPR IM) approved Campari Group's Annual Report for the year ended December 31st, 2024.
FULL YEAR 2024-RESULTS HIGHLIGHTS
2024 was marked by macroeconomic and geopolitical volatility simultaneously affecting all regions and leading to impact on consumption patterns and trade including destocking while the post-Covid rebasing continued. This was exasperated by poor weather conditions, especially in Europe. In spite of this challenging backdrop, Campari Group again delivered positive results with +2.4% organic topline growth and ongoing outperformance vs competition.
In this period, profitability was impacted by continuation of investments to strengthen and expand frontline and infrastructure capabilities in a more moderate topline growth trend period. At the same time, Campari Group is evolving in terms of operating model to increase efficiency and reinforce focus on priority brands.
• Net sales €3,070 million, up +2.4% organically and +5.2% on a reported basis. The perimeter impact was +2.7% driven by Courvoisier and agency brands while FX effect was +0.1%.
• EBIT-adjusted €605 million, -2.5% organically and -2.2% on a reported basis with a margin of 19.7%.
• EBITDA-adjusted €733 million, up +0.1% organically and +0.5% on a reported basis, with a margin of 23.9%.
• Group net profit-adjusted €376 million, down -3.7% on a reported basis. Group net profit of €202 million, down -39.0%.
• Net financial debt €2,377 million, up €523 million compared to previous year largely due to the net impact of acquisitions and extraordinary investments, partly offset by strong cash flow generation. Net debt to rolling EBITDA-adjusted ratio at 3.2 times compared with 2.5 times in the previous year and 3.5 times in September 2024.
• Proposed full year dividend of €0.065 per share, in line with the previous year.
Simon Hunt, Chief Executive Officer: 'As I close the second month in this role, I am pleased to announce that Campari Group delivered positive results and outperformance vs competition again in 2024, which was a challenging year marked by the cyclical impacts of macroeconomic and geopolitical volatility. Looking forward, following a transition period in 2025, we are very confident in our ability to deliver long-term sustainable outperformance by leveraging our powerful brand portfolio, the investments made so far, especially in route to market, systems and supply chain, the unique Camparista culture and talented team. Our leadership position in aperitifs presents an ever-growing opportunity given the evolving consumer trends, which, combined with our tequila and premium spirits portfolio, also have significant potential for geographic expansion globally. At the same time, we will maximise the potential of the Group by driving efficiency and commercial execution while ensuring balance sheet and operating deleverage.'
Read full press release: https://www.camparigroup.co
m/sites/default/files/downloads/2024%20Investor%20Presentation.pdf
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