Campari Group looks to 2021 sales success
Campari Group celebrates “strong” double-digit growth for its 2021 fiscal year, compared to 2020 and 2019 results.
Net sales reached €2.17 billion ($2.47 billion) in 2021, an increase of 25.6% organically compared to full-year 2020 sales. This represented organic growth of 20.5% versus full-year 2019 results.
During the company’s fourth quarter, sales increased 20.9% compared to 2020, despite the impact of the Covid-19 Omicron variant wave. Sales during this period were up 12% compared to 2019.
Bob Kunze-Concewitz, CEO of the Campari Group, said, “2021 was a very successful year as we delivered solid business performance across all key financial indicators.”
“The solid results were achieved thanks to very healthy brand momentum benefiting from the overall increase in consumption and penetration compared to pre-pandemic levels. These positive trends continued into the fourth quarter despite the fourth wave disruption at the end of the year.”
The company’s sales in the Americas grew 23% last year compared to 2020, and increased 19.9% compared to 2019. The United States saw double-digit growth of 18.9% compared to 2020 results.
In Southern Europe, Middle East and Africa, sales increased 36.7% over 2020, up 15.5% compared to 2019. Sales in France were up 22.1% last year, driven by Aperol.
Northern, Central and Eastern Europe grew by 18.6% (25.8% compared to 2019). Aperol was a major driver of growth in several markets, including the United Kingdom (39.1% growth), Russia (25% growth) and Germany (10.7% growth).
In Asia-Pacific, sales jumped 22.9% (and 27.9% versus 2019 results). However, Australia was “flat” in 2021 compared to 2020, but up 20.1% compared to 2019.
Other markets in the Asia-Pacific region, however, showed a “very positive result,” more than doubling sales (109.4%), with particularly strong results in China and South Korea.
Results of the Campari Group brands
Aperol grew by 32.8%, thanks to consumer interest in the on-trade and domestic consumption.
Campari posted a 30.1% increase in sales, thanks to strong sales in all markets. The brand benefited from continued domestic cocktail and on-trade momentum, driven by interest in cocktails such as the Negroni, Boulevardier and Americano.
Wild Turkey sales up 10.9% in 2021
The Wild Turkey bourbon brand posted 10.9% growth last year, driven by international markets, especially in South Africa. However, its core market, the U.S., experienced a slight decline.
Grand Marnier posted a 43.2% increase last year, with “strong growth” in its core U.S. market, where the brand benefited from continued cocktail consumption at home.
The Campari Group’s Jamaican rum portfolio was up 22.7%, driven by premiumization trends in the U.S., Canada, Jamaica and the U.K.
The company’s “regional priorities” grew by a combined 29.8%, and Espolón tequila by 37.5%. Other brands, such as Bulldog, The Glen Grant, Cinzano and Forty Creek, experienced “solid growth.”
Outlook for 2022
Kunze-Concewitz added: “Looking ahead to 2022, we remain fully confident of continued strong business momentum with accelerating consumer uptake across our key brands, taking full advantage of new consumer habits in on- and off-trade channels.”
“On the profitability front, while we continue to take advantage of price increase opportunities to mitigate cost headwinds, temporary input cost pressure is expected to further intensify during the current year.
“As a long-term focused organization, we remain committed to maintaining a sustained level of investment behind our brands and capabilities in order to be best positioned to fully benefit from the gradual elimination of pandemic-induced challenges.”
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