Campari Group celebrates 20 years on the stock market and toasts the semester
Strong double-digit sales growth across all geographies and brand clusters
The board of directors of Davide Campari-Milano NV approved the half-year financial report as of June 30, 2021. Bob Kunze-Concewitz , Chief Executive Officer: "In the first half of 2021 we recorded double-digit growth in all key markets and clusters of brand, as well as all performance indicators. These positive trends accelerated in the seasonal peak of the second quarter, thanks to sustained consumption at home, the gradual reopening of the premises, effects amplified by a favorable basis for comparison. in relation to the spread of Covid variants and the possible reintroduction of new restrictive measures, we remain confident in the continuing strong momentum of the brands, fueled by sustained marketing investments, accelerating in the seasonal peak of aperitifs. This July we are proudly celebrating our 20th anniversary as a listed company Looking back on the success deg n the last 20 years, the strength of Campari Group's business and its financial performance have been reflected in the company's market capitalization value, which has increased 15 times since the IPO to today reach € 13 billion. With an annualized total return to shareholders of 16%, we outperformed our main competitors in the spirits sector and the market index. We would like to thank our shareholders and all Camparistas for their continued support to our Group".
The Group reported very positive business dynamics, driven by the recovery in consumption in the on-premise channel thanks to the gradual reopening in the second quarter. The off-premise channel was driven by strong domestic consumption. The financial statements show net sales of € 1,000.8 million, with an organic change of + 37.1% compared to the first half of 2020 (+ 30.2% total change) and + 22.3% compared to the first half of 2019. Adjusted EBIT was € 223.2 million, with an organic change of + 88.7%, +640 basis points (+ 33.3%, +190 basis points compared to the first half of 2019).
Group net profit adjusted was € 156.8 million, up + 101.9% excluding total positive adjustments of € 2.8 million. Finally, the net financial debt was € 1,064.8 at June 30, 2021, down by € 39.0 million compared to € 1,103.8 million reported at December 31, 2020. The recurring free cash flow was € 141,6 million, an increase of € 76.5 million or + 117.7% compared to the first half of 2020 thanks to the strong performance of the business.
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