Campari records +2.4% in 2024 while preparing for U.S. tariffs’ impact
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Campari closes 2024 with a slight increase in sales (+2.4%), confirming a decline in adjusted EBIT. The closing is 2.5 percentage points lower than the 2023 figures, but for new CEO, Simon Hunt, results are positive considering how complex 2024 has been.
Meanwhile, 2025 is expected to be just as challenging, particularly due to the new U.S. trade policy, which, through the imposition of additional tariffs on all goods imported from Mexico, Canada, and Europe, could cause losses for Campari of around €90-100 million — not accounting for possible mitigation actions.
The cost containment program announced by the company could bring a benefit of about 50 basis points to net sales for 2025. However, unlike some of its competitors, Campari will not modify its medium-term forecasts made in October 2024, as it expects to outperform the competition, gaining market share, in order to return to a mid-high single digit sales level — excluding the potential impact of the tariffs.
Sales in the Americas account for 45% of the Group's total sales, and in 2024 they saw a 4% increase, although the United States remains the main market. In Italy, however, there was a 4% decline, and sales only stabilized in the fourth quarter due to difficult weather conditions, trade disputes, and reduced stock availability from wholesalers.
Meanwhile, 2025 is expected to be just as challenging, particularly due to the new U.S. trade policy, which, through the imposition of additional tariffs on all goods imported from Mexico, Canada, and Europe, could cause losses for Campari of around €90-100 million — not accounting for possible mitigation actions.
The cost containment program announced by the company could bring a benefit of about 50 basis points to net sales for 2025. However, unlike some of its competitors, Campari will not modify its medium-term forecasts made in October 2024, as it expects to outperform the competition, gaining market share, in order to return to a mid-high single digit sales level — excluding the potential impact of the tariffs.
Sales in the Americas account for 45% of the Group's total sales, and in 2024 they saw a 4% increase, although the United States remains the main market. In Italy, however, there was a 4% decline, and sales only stabilized in the fourth quarter due to difficult weather conditions, trade disputes, and reduced stock availability from wholesalers.