Davide Campari-Milano N.V. · MIL:CPR
Davide Campari-Milano — 9M 2022 Earnings Presentation
30 slides from Davide Campari-Milano's earnings presentation, Oct 27, 2022
Slide 1: Results Presentation Nine Months ended 30 September 2022
Results Presentation Nine Months ended 30 September 2022 October 27, 2022
Slide 2: Strong performance in the nine months thanks to robust brand momentum and pricing effect
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex Strong performance in the nine months thanks to robust brand momentum and pricing effect. Sustained topline growth in Q3 while margin reflected the expected heightened COGS inflation and +19.0% geographic
Slide 3: Strong growth across Americas and core European markets, driven by aperitifs and brown spirits
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex Strong growth across Americas and core European markets, largely driven by the aperitifs and brown spirits, whilst APAC impacted by logistics constraints and Covid 9M 2022 Net sales Organic Performance an
Slide 4: Americas +18.7% SEMEA +23.3%
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex Net sales organic performance by market > USA +14.6% • Positive overall growth with Q3 up +30.2% thanks to continued positive momentum in the on-premise and resilient home consumption, benefitting also fr
Slide 5: NCEE +18.3% APAC +5.6%
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex Net sales organic performance by market > GERMANY +22.5% • Strong overall performance, thanks to continued resilient home consumption combined with a strong on-premise, boosted also by pricing and favoura
Slide 6: Global Priorities: organic growth of +21.2%
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex Global Priorities: organic growth of +21.2% > Aperol: strong double-digit growth across all key markets, in particular core Italy (+25.5%), Germany (+35.4%), the US (+56.7%), Spain (+100.8%), France (+29.
Slide 7: Regional Priorities: organic growth of +23.5%
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex Regional Priorities: organic growth of +23.5% > Espolòn: continued strong growth despite the tough comparison base (9M 2021: 32.0% +41.1%), with an acceleration in Q3 (+53.9%), driven by the core US, part
Slide 8: Local Priorities: organic growth of +7.2%
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex Local Priorities: organic growth of +7.2% 8.9% > Campari Soda: positive performance driven by core Italy > Wild Turkey RTD: overall flattish performance due to ocean freights -0.4% constraints into Austra
Slide 9: Financial Review
Financial Review 9
Slide 10: EBIT organic margin expansion of +50bps thanks to strong topline
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex EBIT organic margin expansion of +50bps thanks to strong topline driving operating leverage. Strong contribution from forex largely thanks to strengthened US Dollar Reported Organic Organic Q3 2022 Change
Slide 11: Profit before tax
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex Profit before tax 9M 2022 9M 2021 Reported €million % of sales €million % of sales change % EBIT adjusted 492.2 24.5% 359.8 22.8% 36.8% Financial income/(expenses) breakdown: 9M 2022 9M 2021 Operating adj
Slide 12: Slight increase in net debt
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex Slight increase in net debt Δ 30 September 2022 vs. € million 30 September 2022 31 December 2021 31 December 2021 Short-term cash/(debt) (A) 368.3 533.2 (164.9) - Cash and cash equivalents 483.2 791.3 (30
Slide 13: Business Development & Marketing initiatives
Business Development & Marketing initiatives 13
Slide 14: Acquisition of initial minority stake in Howler Head and stake in Catalyst Spirits
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex Acquisition of initial minority stake in Flavoured Bourbon Howler Head with exclusive global distribution rights and minority stake in incubator Catalyst Spirits In August 2022 (1), Campari Group acquired
Slide 15: Campari: Red Passion at 79th Venice International Film Festival
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex Campari: Red Passion at 79th Venice International Film Festival For the fifth year in a row, Campari, as main sponsor, returned to the 79th Venice International Film Festival, from 31st August to 10th Sep
Slide 16: Campari: Negroni Week 2022 – the 10th Anniversary
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex Campari: Negroni Week 2022 – the 10th Anniversary The Negroni, the most consumed premium cocktail in the world, continued its celebration with the Negroni week 2022. Over the past decade the global charit
Slide 17: Crodino – the non-alcoholic aperitif of choice is gathering pace
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex Crodino – the non-alcoholic aperitif of choice is gathering pace Activations across London in consumer hot spots ahead of national launch in Waitrose Ahead of DryJuly, activations took place across Sydney
Slide 18: Espolòn Cristalino
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex Espolòn Cristalino A blend of Anejo with a touch of Extra Anejo artfully filtered through charcoal, this new premium variant was launched during Hispanic Heritage month in the core US market. Cristalino i
Slide 19: The Bitters: Averna & Braulio
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex The Bitters: Averna & Braulio From an industrial area known as “uncultivated space” to a center of cultural and entertainment production. Averna Spazio Open is now open, an urban redevelopment project imp
Slide 20: Conclusion & Outlook
Table of contents Results Summary Sales Results ‒ By region ‒ By brand Conclusion Consolidated P&L & Outlook Cash Flow & Net Financial Debt Sustainability Update Conclusion and Outlook Annex 20
Slide 21: Conclusion & Outlook
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex Conclusion & Outlook > Strong topline performance continued in the key summer season thanks to strong brand momentum, continued on-premise strength and favorable weather as well as the initial impact of s
Slide 22: Annex
Annex
Slide 23: Net sales by brand cluster and region
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex Net sales by brand cluster and region 9M 2022 9M 2021 Change % of which: Q3 2022 €m % €m % total organic perimeter forex Organic Global Priorities 1,193.7 59.5% 922.2 58.5% 29.4% 21.2% - 8.2% 19.5% Region
Slide 24: Net sales by key market
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex Net sales by key market 9M 2022 9M 2021 Change of which: Q3 2022 % Group % Group % organic €m €m % organic perimeter forex sales sales growth Americas 907.8 45.3% 667.9 42.4% 35.9% 18.7% -0.1% 17.3% 29.9%
Slide 25: 9M 2022 Consolidated P&L
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex 9M 2022 Consolidated P&L Reported Perimeter Forex 9M 2022 9M 2021 Organic change change effect impact € million % of sales € million % of sales % (bps) (3) % % % Net sales 2,005.7 100.0% 1,575.7 100.0% 27
Slide 26: Q3 2022 Consolidated P&L
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex Q3 2022 Consolidated P&L Reported Perimeter Forex Q3 2022 Q3 2021 Organic change change effect impact (bps) € million % of sales € million % of sales % (3) % % % Net sales 748.8 100.0% 574.8 100.0% 30.3%
Slide 27: Financial debt details
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex Financial debt details Eurobonds and Term loan composition as of 30 September 2022 Outstanding Original As % of Issue date Maturity Type Currency Coupon Amount tenor total (€ million) Apr 5, 2017 Apr-24 U
Slide 28: Exchange rates effects
Results Summary Sales Results Financial Review Marketing Initiatives Conclusion & Outlook Annex Exchange rates effects Average exchange rate Period end exchange rate Change 9M 2022 vs Change 31 December 2021 vs 9M 2022 9M 2021 30 September 2022 31 December 2021 9M 2021 31 December 2021 : 1 Euro : 1
Slide 29: Disclaimer
Disclaimer This document contains forward-looking statements that relate to future events and future operating, economic and financial results of Campari Group. By their nature, forward-looking statements involve risk and uncertainty because they depend on the occurrence of future events and circums
Slide 30: Contacts
CONTACTS i n ve s t o r. r e l a t i o n s @ c a m p a r i . c o m
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