Takes off the stock on the Stock Exchange of Campari, which in mid-morning manages to gain more than 8%, to 5,98 euros, posting the best increase in the Ftse Mib. The sell-off on the company's stock was triggered by higher-than-expected quarterly earnings.
The Useful Group pre-tax adjusted was 54,4 million, up +56%. The gross profit of the group instead amounted to 53,6 million, up by +56,7%. In the first quarter of 2017, the group's net sales amounted to 376,6 million, an increase of +15,0%.
The organic growth of sales was +5,7%, driven by the strong organic growth of global priority brands (+10,8%) and regional priority (+13,2%) with high margins, benefiting from a foreign exchange effect of +2,7 %, due to the revaluation of some Group currencies, including the US dollar, the Brazilian real, the Russian ruble and the Canadian dollar.
The Ebitda adjusted reached 78,6 million, up by +17,7% (+2,6% organic change), equal to 20,9% of sales. L'EBIT adjusted was 64,4 million, up by +19,5% (+1,6% organic change), equal to 17,1% of sales. In relation to the perimeter effect (€21,7 million on sales and €8,7 million on adjusted Ebit), the contribution of Grand Marnier, consolidated from 1 July 2016, amounted to €32,5 million on sales, €9,2 million on adjusted Ebit and 10,2 million on adjusted Ebitda.
As at 31 March 2017 thenet financial debt was €1.206,3 million, substantially unchanged compared to December 31, 2016 (€1.199,5 million), after the payment for the Bulldog acquisition, partly offset by the proceeds from the sale of the Chilean wine business, for a net cash outlay of about 40 million.
The agreement with the Revenue Agency, which defines the criteria for quantifying the tax benefits compared to the so-called 'Patent Box' for the period 2015-2019. The tax benefit for 2015 is equal to approximately 12 million euro, while for 2016 a value of approximately 16 million is estimated. Both values, specifies a note from the company, are to be accounted for in the income statement for the first half of 2017.
