MILAN (Reuters) – Italian spirits group Campari posted a decline in revenue and adjusted operating profit in the first quarter, well below analysts expectations, but confirmed its outlook for this year and the medium term. “Looking forward, we confirm that our previously provided guidance for 2025 remains our target, while recognising that visibility is low,” […]
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Campari posts first-quarter revenue and operating profit below expectations
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MILAN (Reuters) – Italian spirits group Campari posted a decline in revenue and adjusted operating profit in the first quarter, well below analysts expectations, but confirmed its outlook for this year and the medium term.
“Looking forward, we confirm that our previously provided guidance for 2025 remains our target, while recognising that visibility is low,” Campari Chief Executive Simon Hunt said in a statement, adding that the group is focused on the cost containment programme.
“We remain committed to deleverage and streamline the portfolio while not foreseeing acquisitions,” he added.
Campari said that U.S. tariffs are expected to have a 25 million euro impact on the 2025 operating profit “before possible mitigation actions”.
The maker of Aperol and Campari said its net sales dropped to 666 million euros ($749 million) in first three months of the year, at constant exchange rate and excluding acquisitions and disposals, also due to Easter timing and logistic delays in the U.S.
In the United States, the largest market for the group, sales were down 11%, as the threat of tariffs lead to destocking, as well as logistic delays.
A Visible Alpha analysts consensus expected net sales to increase to 686 million euros.
Adjusted operating profit plunged by 17% organically in the same period, to 136 million euros.
($1 = 0.8891 euros)
(Reporting by Elisa Anzolin; Editing by Keith Weir and David Evans)