|
Campari CEO Simon Hunt is on a roadshow in London, New York, and Toronto, where he will meet with over 80 investors. The group generates €3.05 billion in revenue (+2.4%), thanks mainly to aperitifs, which account for 44% of sales, and to tequila. Aperol stands out among the brands, with fourth-quarter sales up 8%. Profit rose 2.7% to €386 million. These results coincide with a generational and managerial transition within the Garavoglia family (which holds 51.3% through Lagfin). Former CEO Bob Kunze-Concewitz will step down, followed by former CFO Paolo Marchesini and Alessandra Garavoglia, who will be succeeded by her son, Jacopo Forloni. Alessandro Garavoglia (son of Chairman Luca Garavoglia), Francesco Mele, the new CFO, and Chiara Lazzarini, a non-executive director, will join the board. The firm gets 30% of its sales from the United States, where it is currently investing €600 million on a new distillery in Kentucky. Campari aims to invest in ten important brands, which currently account for 60% of revenue. Five are already global, including Aperol, which has a 26% share and is the leader, followed by Campari, Wild Turkey whiskey, Courvoisier, and Espolon Tequila. Five others, including Lallier and Sarti Rosa, are seen as "future stars".
|