Campari archives 2025 with solid accounts, growing margins and a significantly more generous return to shareholders.assembly by Davide Campari-Milano NV, meeting today in Amsterdam, has approved the budget by December 31, 2025 and a resolution was approved dividend of 0,10 euro per share, up 54% on the previous year.
Revenues held steady, margins growing
In 2025 the group recorded net sales for 3,051 billion euros, down 0,6% on an overall basis, but up 2,4% at an organic level. The profile of the financial year is supported above all by theprofitability trend. Adjusted Ebit rose to 637 million euros, equal to 20,9% of sales, with an increase of 5,3% overall and 5,4% in organic terms. The progression of theAdjusted EBITDA, which reached 785 million euros, equal to 25,7% of turnover, an increase of 7,2% overall and 7,6% organically.
On an unadjusted basis, EBIT stood at 568 million and EBITDA at 716 million, after negative operating adjustments of 69 million.adjusted net profit The group's revenue reached €386 million, up 2,7%, while group net profit stood at €346 million. These figures confirm a growing profitability trend, even in a context of substantially stable revenues.
Richer dividend and improving cash flow
Il dividend approved for the 2025 financial year is equal to 0,10 euros per share, gross of legal withholdings, with a payout ratio of 35%. The total amount of the coupon, calculated on the shares in circulation at the date of the meeting, net of treasury shares, reaches 119,9 million euros. Payment is due by April 22, 2026, with record date on April 21 and ex-dividend date on April 20.
On the capital structure front, thenet financial debt fell to €1,958 billion, including earn-outs and put options for €89 million. Compared to the end of 2024, the improvement was €419 million, supported by solid cash generation and the effect of capital gains from disposals, despite dividends paid for €78 million. The ratio of net financial debt to adjusted EBITDA It fell to 2,5 times, a sharp recovery from the peak of 3,6 times recorded on September 30, 2024, following the completion of the Courvoisier acquisition.
New balances in governance
The assembly also has redesigned the structure of the board of directors following the resignations of Alessandra Garavoglia, Robert Kunze-Concewitz and Paolo Marchesini on March 4. Among the new executive directors Francesco Mele joins as group chief financial officer, and Jean-Marie Laborde, who moves from the role of non-executive to the executive director.
Sul non-executive sideThe meeting appointed Alessandro Garavoglia, Jacopo Forloni, and Chiara Lazzarini, the latter of whom is classified as independent under the Dutch Corporate Governance Code. The board then appointed Alessandro Garavoglia and confirmed Jean-Marie Laborde as vice-chairmen. Chiara Lazzarini was appointed chair of the Control, Risk, and Sustainability Committee, a position Laborde resigned from following his new operational role.
Green light also for own shares
Among the other resolutions approved is the renewal of the authorization to purchase treasury shares for 18 months. The measure is primarily aimed at ensuring coverage of incentive plans based on share capital and at offering the group a financial flexibility tool also in view of possible extraordinary M&A transactions.
