Milan, October 29th, 2025 - The Board of Directors of Davide Campari-Milano N.V. (Reuters CPRI.MI-Bloomberg CPR IM) approved the additional financial information report for the nine months ended September 30th, 2025.
NINE MONTHS 2025-RESULTS HIGHLIGHTS
Campari Group delivered a resilient performance in the first nine months of 2025, supported by growth across all regions in the third quarter with solid momentum despite the challenging operating backdrop. In the same period, profitability benefitted from gross margin accretion and visible effect of SG&A savings more than offsetting increased A&P investments, as planned. In this context, sell-out outperformance versus the spirits market continued in Q3 across most markets during peak season.
• Net sales €2,281 million, +1.5% organically and +0.2% on a reported basis (Q3: +4.4% organic, -0.1% reported). The perimeter impact was +1.1% driven mainly by Courvoisier and partly offset by agency brands and co-packing while FX effect was -2.4%.
• EBIT-adjusted €517 million, +1.4% organically and +3.6% on a reported basis (Q3: +19.5% organic, +18.8% reported). Ebit-adjusted margin at 22.7%.
• EBITDA-adjusted €629 million, +4.8% organically and +6.4% on a reported basis (Q3: +18.8% organic, +17.6% reported). EBITDA-adjusted margin at 27.6%.
• Group pre-tax profit at €399 million, -5.7% on a reported basis. Group pre-tax profit-adjusted at €440 million, -2.6% on a reported basis.
• Net debt to EBITDA-adj. down to 2.9x.
Simon Hunt, Chief Executive Officer: "In an ongoing challenging backdrop, we recorded a resilient organic sales growth of +4.4% in the third quarter and we remain on track. This was achieved through our commercial execution and pricing discipline, which has delivered outperformance in sell-out across most geographies where we are continuing to gain share. We remain focused on what we can control and continue to make good progress in all our strategic priorities. In particular, regarding cost containment, we see visible acceleration in our savings, while in terms of balance sheet, our financial leverage has decreased by 0.7x in the last twelve months to 2.9x. We continue to streamline assets with the disposal of our investment in the Tannico e-commerce platform and we continue to explore other disposal opportunities. Looking forward, we expect moderate organic top-line growth while our EBIT-adj. margin expectation of flattish organic trend now incorporates the tariff impact this year, thanks to its better absorption. We remain fully confident in the delivery of long-term sustainable growth and continuous financial deleverage.'.
Download full press release:
https://www.camparigroup.com/sites/default/files/downloads/20251029%209M%202025%20Results%20Press%20Release_vF.pdf
NINE MONTHS 2025-RESULTS HIGHLIGHTS
Campari Group delivered a resilient performance in the first nine months of 2025, supported by growth across all regions in the third quarter with solid momentum despite the challenging operating backdrop. In the same period, profitability benefitted from gross margin accretion and visible effect of SG&A savings more than offsetting increased A&P investments, as planned. In this context, sell-out outperformance versus the spirits market continued in Q3 across most markets during peak season.
• Net sales €2,281 million, +1.5% organically and +0.2% on a reported basis (Q3: +4.4% organic, -0.1% reported). The perimeter impact was +1.1% driven mainly by Courvoisier and partly offset by agency brands and co-packing while FX effect was -2.4%.
• EBIT-adjusted €517 million, +1.4% organically and +3.6% on a reported basis (Q3: +19.5% organic, +18.8% reported). Ebit-adjusted margin at 22.7%.
• EBITDA-adjusted €629 million, +4.8% organically and +6.4% on a reported basis (Q3: +18.8% organic, +17.6% reported). EBITDA-adjusted margin at 27.6%.
• Group pre-tax profit at €399 million, -5.7% on a reported basis. Group pre-tax profit-adjusted at €440 million, -2.6% on a reported basis.
• Net debt to EBITDA-adj. down to 2.9x.
Simon Hunt, Chief Executive Officer: "In an ongoing challenging backdrop, we recorded a resilient organic sales growth of +4.4% in the third quarter and we remain on track. This was achieved through our commercial execution and pricing discipline, which has delivered outperformance in sell-out across most geographies where we are continuing to gain share. We remain focused on what we can control and continue to make good progress in all our strategic priorities. In particular, regarding cost containment, we see visible acceleration in our savings, while in terms of balance sheet, our financial leverage has decreased by 0.7x in the last twelve months to 2.9x. We continue to streamline assets with the disposal of our investment in the Tannico e-commerce platform and we continue to explore other disposal opportunities. Looking forward, we expect moderate organic top-line growth while our EBIT-adj. margin expectation of flattish organic trend now incorporates the tariff impact this year, thanks to its better absorption. We remain fully confident in the delivery of long-term sustainable growth and continuous financial deleverage.'.
Download full press release:
https://www.camparigroup.com/sites/default/files/downloads/20251029%209M%202025%20Results%20Press%20Release_vF.pdf
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