Campari's “steady” Q1s – key takeaways [Yahoo! Finance]
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Source: Yahoo! Finance
“I would say no news for us, I believe, is good news,” Fantacchiotti, who took the helm last month, succeeding long-standing CEO Bob Kunze-Concewitz, told analysts yesterday (7 May) after the Aperol maker booked its Q1 numbers. Campari's first-quarter sales of €663.5m ($712.9m), were up 0.2% organically and down 0.7% on a reported basis. The company did face a stiff comparison with the first quarter of 2023, when sales jumped 20% organically, boosted by higher shipments ahead of price increases the group introduced. Campari said, therefore, that its organic sales growth in the opening three months of this year “versus a normalised Q1 2023” would have been around 6%. The “temporary phasing of shipments” in last year's first quarter also weighed on adjusted EBIT, which was down 2.3% organically and by 4.9% on a reported basis at €151.5m. Again, Campari produced a figure that excluded the impact of those pre-price-hike shipments in Q1 2023; it said its Q1 2024 adjusted EBIT woul
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