The Board of Directors of Davide Campari-Milano NV approved the additional financial information as of March 31, 2025. Group sales amounted to €666 million, down -4.2% organically and up +0.3% overall. The perimeter effect was +4.3%, mainly driven by Courvoisier, while the exchange rate effect was +0.2%.

EBIT-adjusted was EUR 136 million, -17.2% organically and -10.2% overall, with a margin of 20.4%. EBITDA-adjusted was EUR 174 million, -10.9% organically and -4.1% overall, with a margin of 26.1%. Group profit before taxes was EUR 107 million, -26.1%. Group profit before taxes adjusted was EUR 114 million, -22.5%. The multiple of net financial debt to EBITDA-adjusted was 3.4x compared to 3.2x at December 31, 2024.

"We remain confident in our ability to deliver sustainable long-term growth by leveraging the strength of our brands, accelerating our geographic expansion by leveraging our current commercial structure, and focusing on quality of commercial execution and pricing discipline," said Campari CEO Simon Hunt . "At the same time, we are committed to maximising the Group's potential by generating efficiencies through the announced cost containment programme, continuing to invest in building our brands and completing our extraordinary investment plan. In addition, we will focus on deleveraging and streamlining our portfolio, and will not envisage any acquisitions."

Sales in the Americas (47% of total Group sales) decreased by -6%. The United States recorded a change of -11% due to high volatility in the current operating environment and the threat of tariffs that generated destocking, mainly in Skyy, Grand Marnier and Wild Turkey, as well as some logistics delays, excluding which the market would have recorded a performance of -5%. Espolòn was impacted by a challenging comparison base and subdued trends in the Blanco category, while Aperol recorded a resilient performance.

In EMEA (46% of Group sales), net sales decreased by -4%. Italy and Germany decreased by -3% and -10% respectively, impacted by sales phasing due to the Easter calendar. France decreased by -2% in a weak sector context due to local brands, despite the resilience of the aperitifs portfolio. The UK recorded a strong double-digit performance excluding bulk sales (+10%, -13% overall), with underlying growth driven by aperitifs, in particular Aperol. The other markets in the area decreased by -2% despite the positive contribution mainly from aperitifs, in particular led by GTR and Greece, impacted by weak trends in South Africa and the Netherlands.

In Asia Pacific (7% of Group sales), net sales grew by +11%. Australia recorded a growth of +16% with a positive performance mainly driven by excellent execution in aperitifs at the Australian Open with acceleration of on-premise activations. The other markets in the area recorded a positive performance of +4% led by positive trends in China, leveraging previous investments in route-to-market, and South Korea.