Italian distillery Campari posted a gross operating profit (Ebitda) of €531.7 million for the first nine months of 2022 as a whole, up 30.2 percent compared to the same period last year, the company said Thursday.
Profit before taxes grew by 32.7 percent up to September, reaching 452.7 million euros.
The company’s CEO, Bob Kunze-Concewitz, stressed that the third quarter figures are the result of a «key» summer season, thanks to the good momentum of the brands, the «favorable» weather and the impact of price increases.
The company reported net sales of 2,005.7 million euros in the first nine months of the year, up 27.3 percent. Of this increase, up to eight percentage points are a direct result of the exchange rate.
Cost of goods sold rose by 29.5 percent to EUR 795.6 million, while selling, general and administrative expenses increased by 16.9 percent to EUR 389.3 million. Advertising expenses rose by 22.5 percent to EUR 328.6 million.
In the third quarter of the year alone, Campari’s pre-tax profit was 171.1 million euros, up 35.1 percent, while net sales expanded by 30.3 percent to 748.8 million.
