Italian drinks manufacturer Gruppo Campari has revealed its revenue rose 8.1% in the first three quarters of 2017, with sales reaching €1,275.8 million.
The company, which produces brands such as Aperol, Campari, Wild Turkey and Grand Marnier, accredits the increase to strong organic growth of high-margin global priorities (+7.4%) and regional priorities (+13.5%).
Addtionally, adjusted EBITDA rose 9.8% to €299.3 million, while adjusted group pretax profit increased 22.35% to €224.6 million.
Commenting on the above data, Gruppo Campari CEO Bob Kunze-Concewitz asseted, "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."
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 this year, reflecting the sale of its non-core business and real-estate assets, alongside healthy cash-flow generated by its brands.
Kunze-Concewitz said, "Looking at the remainder of the year, our outlook remains fairly balanced and unchanged. 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."
Original article by Sarah Harford, European Supermarket Magazine. Edited by Hospitality Ireland.
