Aperol maker Davide Campari-Milano reported 869 million euros in quarterly sales, slightly ahead of analysts’ estimates, as aperitifs growth was supported by Aperol and Campari serving formats.
Davide Campari-Milano reaffirmed its sales-growth target for the year after continued momentum in aperitifs helped lift second-quarter revenue. The Milan-listed distiller, which owns Aperol and Campari bitters, posted a 2.5% on-year increase in sales to 869 million euros ($996.5 million) in the quarter through June, slightly ahead of analysts’ estimates. The aperitifs business, which accounts for around half of group sales and includes Campari and Aperol, grew 4% over the first half, helped in part by newer serving formats such as ready-to-serve Campari Spritz and Aperol Spritz on tap at major music concerts in Italy. For the first half, group sales rose 2.7% to 1.51 billion euros.