Both profits and sales grew in the first three months of the year Campari, a company listed on Piazza Affari, where immediately after the publication of the accounts it is clearly the best stock of the Ftse Mib, with a gain of over 3% (to 8,78 euros, after having also reached +4% to almost 9 euro), on a morning in which the Milan stock exchange travels just above parity. Specifically, the group's pre-tax profit adjusted for non-recurring items amounted to 40,2 million euro, 26,1% more compared to the same period last year and sales amounted to 327,4 million with an organic change of +7,2% and an organic growth of global priority brands of 11,9%.
The contribution margin amounted to 126,7 million with a positive change of 7,5% compared to a year ago, while Campari Ebitda before non-recurring income and expenses stood at 66,8 million with a progression of 18,8% year over year. Finally, Ebit before non-recurring charges and income amounted to 53,9 million with an increase of 21,1% compared to the same period last year and the net financial debt amounted to 923,1 million, an increase compared to 825,8 million as at 31 December 2015.
Bob Kunze-Concewitz, CEO of the company, commented as follows: “In the first quarter of 2016 we recorded very positive results for all operational performance indicators at an organic level. These results were obtained thanks to the constant implementation of our growth strategy which has led to the continuous improvement of the sales mix in terms of product and market. In particular, global priority and highly profitable brands continue to show a positive trend and higher than the Group's average growth, to the benefit of the expansion of operating margins. In addition, we have achieved a positive organic growth in all geographical areas of reference and particularly in high-margin developed markets such as North America and Western Europe. However, it should be emphasized that, in the least significant quarter of the year due to business seasonality, these results were impacted by some non-recurring events, both positive and negative. Among the positives, it should be noted that the results benefited from a different scheduling of the Easter period, anticipated compared to 2015. Furthermore, in the United States, the performance was favored by the timing of orders which are expected to be gradually reabsorbed over the quarters subsequent. Conversely, it should be noted that the Group's sales results were negatively impacted by a contraction in the non-core and low-margin sugar business in Jamaica“.
