Today the Campari Board of Directors approved the financial report of the results as at 31 December 2022. In particular, the group closed 2022 with 2,697.6 million in net sales, with an increase of 24.2% compared to to the same period of 2021. In 2022, Adjusted Ebitda stood at €660.3 million, with organic growth of 17.3%.
In 2022, the group’s profit amounted to 333 million euros, an increase of 16.9%.
At December 31, 2022, the group shows a net financial debt of €1,552.5 million, an increase of €721.6 million compared to December 31, 2021, reflecting a positive free cash flow which was more than offset by the absorption of cash due to acquisitions, net purchase of treasury shares and dividend payments.
Following the results achieved, the company has proposed the distribution of an annual dividend for the year of €0.06 per share, stable compared to the previous year.
“In a challenging 2022, we continued to make solid progress in pursuing our long-term growth strategy, focusing on continued brand strengthening as well as portfolio enhancement through acquisitions.
Compared to the pre-pandemic period, our sales grew organically by 40% thanks to very positive brand dynamics, price increases, as well as an enhanced commercial structure that drove strong consumer demand. Looking ahead to 2023, we remain confident on the positive business momentum in the key brand and market combinations thanks to the strength of our brands, with particular reference to apéritifs.
We will continue to take advantage of the opportunities for appropriate price increases in specialties, as well as premiumisation of the aged product portfolio. The macroeconomic context generally remains challenging for inflation, despite some signs of moderation; nevertheless we remain confident of maintaining the current operating margin on organic sales. Looking at the medium term, we remain confident that we will continue to deliver sustained organic sales growth and mix improvement, generating margin expansion. To meet future consumer demand, we are accelerating our supply chain investments with the aim of doubling our production capacity in key categories of appetizers, bourbon and tequila.” Says Bob Kunze-Concewitz, Chief Executive Officer of Campari.
Meanwhile, in Piazza Affari the Campari share is currently showing a drop of 0.47%, thus finding itself at 10.5 euros per share.