Campari Group reports 2.9 % profit growth

Campari Group reported a 2.9 percent increase in second-quarter operating profits for H1 2025, even as the company braces for a potential €54 million hit from newly imposed 15 percent U.S. tariffs on European spirits. The Italian beverage giant maintained its full-year guidance and announced further brand portfolio streamlining efforts.

For the first half of the year, group sales totalled €1,528 million, reflecting a 0.3 percent increase on a reported basis and 0.1 percent organic growth. The perimeter effect, primarily driven by Courvoisier, added 2 percent, while foreign exchange fluctuations negatively impacted sales by 1.8 percent.

Gross profit rose to €934 million, representing 61.1 percent of net sales, up 2.6 percent on a reported basis and 0.9 percent organically, benefiting from favourable agave costs and limited initial tariff exposure, which contributed a manageable €2 million impact beginning in April. This led to a 40 basis point margin improvement, with Q2 alone delivering a 70 bps gain.

Despite the tariff risks and modest top line growth, Campari affirmed its strategic priorities and long-term outlook, with cost containment measures expected to show greater impact in the second half of the year.