Drinks powerhouse Campari Group has reported double-digit global travel retail (GTR) sales growth for its financial year ended 31 December 2024. Group sales totalled €3,070 million, up +2.4% in organic terms (+5.2% on a reported basis).
Gross profits totalled €1,767 million, 57.6% of net sales, up +3.9% on a reported basis. EBITDA-adjusted amounted to €733 million, up +0.1% organically and +0.5% on a reported basis.
Describing its topline growth as “solid”, Campari Group noted it delivered positive results in a year marked by macroeconomic and geopolitical volatility. This, it said, led to impact on consumption patterns and trade while post-COVID rebasing continued.
Regional and brands performance
In the EMEA region (48% of total Campari Group sales), which includes GTR for reporting purposes, sales grew +3% in 2024. In key sub-markets, Italy sales declined -4%, Germany grew +5% and France recorded a flat performance, while the UK, Campari Group noted, was impacted by supply constraints in rums due to the hurricane in Jamaica.
Other markets in the EMEA region recorded double-digit growth of +12% with a positive contribution from most markets and in particular GTR.
In the other key markets, the Americas (45% of total Group sales) grew +4% and APAC (7% of total Group sales) declined -3% in 2024.
In the key House of Aperitifs segment (43% of total Group sales), Campari Group registered a +6% increase in 2024 with solid growth in the fourth quarter after a challenging peak season.
Aperol grew +5% supported by double-digit growth in the fourth quarter, driven by the Americas, including the USA, Canada and seeding markets such as Brazil and Mexico, as well as Germany, Greece, Spain, GTR and Australia. Campari grew +9%, led by Brazil, GTR, France and Greece.
Giving its 2025 outlook, Campari Group said moderate organic full-year top-line growth is expected to continue, with an improving trend in the second half of the year.
Campari Group Chief Executive Officer Simon Hunt commented: “As I close the second month in this role, I am pleased to announce that Campari Group delivered positive results and outperformance versus competition again in 2024, which was a challenging year marked by the cyclical impacts of macroeconomic and geopolitical volatility.
“Looking forward, following a transition period in 2025, we are very confident in our ability to deliver long-term sustainable outperformance by leveraging our powerful brand portfolio, the investments made so far, especially in route to market, systems and supply chain, the unique Camparista culture and talented team.
“Our leadership position in aperitifs presents an ever-growing opportunity given the evolving consumer trends, which, combined with our tequila and premium spirits portfolio, also have significant potential for geographic expansion globally.” ✈
