Sunny day in Piazza Affari for Campari, which in the middle of the session is up by almost 4%, to 7,12 euros per share, achieving the best increase in the Ftse Mib.
The publication of the quarterly accounts triggered the wave of purchases on the stock – which was trading in the red at the start. Despite the decline in sales in the first 9 months of 2018 (-2,5% on an annual basis, mainly due to the unfavorable exchange rate effect), investors appreciated the gross profit number, which stood at 249 million, an increase of 4,7%. Before positive adjustments of 12,3 million euros - largely due to the capital gain on the sale of the Lemonsoda business - and net of provisions for restructuring projects, the figure is equal to 235,5 million euros and marks a +4,8 .0,7% per annum. Adjusted Ebit increased by 8,7% (+259,2% organic growth) to XNUMX million euros.
Bob Kunze-Concewitz, CEO of Campari, said he was confident "on organic growth for 2018". In the first nine months, “we recorded very positive organic sales growth – he added – accelerating in the third quarter, thanks to the continued outperformance of key high-margin global and regional priority brands in key developed markets. The positive evolution of the sales mix continued to drive profitability growth and margin expansion, helping to offset the unfavorable effects of foreign exchange and the disposal of non-strategic businesses”.
