Italian spirits group Campari (CPRI.MI) reported on Tuesday a 9.6% increase in fourth quarter like-for-like sales, thanks to strong pricing and despite supply constraints.
The maker of Aperol and Campari bitters said net sales reached 2.7 billion euros ($2.9 billion) in 2022 as a whole, up organically 16.4% compared with the previous year.
“In a challenging 2022, we continued to make solid progress in pursuing our long-term growth strategy focusing on sustainable brand building as well as portfolio enhancement via attractive acquisitions,” Campari CEO Bob Kunze-Concewitz said in a statement.
“The overall macro environment for inflation remains challenging despite some signs of easing; nevertheless, we remain confident to preserve the current operating margin on sales at the organic level,” he added.
Campari said it was confident in the strength of future demand and it is planning robust medium-term supply chain investments to double overall production capacity in key aperitifs, bourbon and tequila categories.
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