Campari closed the traditionally insignificant first quarter with gross profit up by approximately 73% to 35,8 million against net sales of 327,4 million, the result of organic growth of 4,2% and a exchange rate effect of 6,6%.
After a decline in the Ebit margin in FY 2014 to 16,3% from 19% (to 19,1% from 19,7% before extraordinary items), CEO Bob Kunze-Concewitz confirmed in a note that he expects a improvement in operating margins in 2015.
Among the various geographical areas, Italy, which accounts for 25,7%, saw an organic performance of 2,0%, "mainly driven by the aperitif business (in particular Aperol and single-servings), despite the unfavorable basis of comparison ( +5,2% in the first quarter of 2014).
As at 31 March 2015, net financial debt amounted to 1.004,4 million from 978,5 million at the end of December due to a strong revaluation of the US dollar.
