Davide Campari-Milano CEO Bob Kunze-Concewitz reports that the company has recorded double-digit growth in both sales and profits for the third consecutive year. Campari is outperforming its benchmark markets and increasing its market share. As far as forecasts for 2024 are concerned, the CEO remains cautious because of the cost of goods (COGS). 
 
On the mergers and acquisitions (M&A) front, the CEO points out that Campari has completed 27 transactions under his leadership, totalling more than €4 billion. With the acquisition of Courvoisier, Campari has strengthened its presence in premium spirits, particularly whisky, and is looking to increase its presence in the United States and Asia, two key markets due to their potential for growth and profitability.
 
Campari has increased its prices by 15% over the last two years, repositioning key brands such as Campari and Aperol. Going forward, price increases are expected to reflect inflation of between 1% and 2%. Despite the price increases, demand remains strong, with double-digit growth.
 
Aperol has seen 23% year-on-year growth and the CEO believes this is just the beginning.  With little penetration outside Italy, particularly in the US, Campari sees huge potential for Aperol internationally.

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