Davide Campari-milano N.v. · MIL:CPR
Davide Campari-milano — Q1 2026 Earnings Presentation
15 slides from Davide Campari-milano's earnings presentation, May 6, 2026
Slide 1: Q1 2026 Net Sales Investor Presentation
Q1 2026 NET SALES Net sales to 31 March 2026 Investor Presentation 6 MAY 2026
Slide 2: Solid performance in the smallest quarter
EXECUTIVE SUMMARY Solid performance in the smallest quarter • Strong industry outperformance and share gains continuing in sell-out • +2.9% organic growth reflecting broad based growth across brand houses and regions with 18 countries growing as well as targeted inventory optimisation in the US on n
Slide 3: Aperol Spritz To Go launched in selected European Markets
Aperol Spritz To Go launched in selected European Markets 3
Slide 4: Growth broad based across regions and houses
GROUP NET SALES Growth broad based across regions and houses Net Sales Organic FX Perimeter Total Campari Group € 643 MLN +2.9% - 4.1% - 2.2% - 3.4% REGIONS HOUSES OF BRANDS EUROPE +1.9% APERITIFS +2.1% N. AMERICA +2.2% WHISKEY & RUM - 5.0% DEVELOPING +12.7% AGAVE +4.9% MARKETS APAC & GTR - 1.6% COG
Slide 5: Ongoing outperformance in sell-out
SELL - OUT Ongoing outperformance in sell - out US Value Growth Europe Value Growth Spirits Sector sell-out Campari Group sell-out Aperol, Campari, Espolòn sell-out Spirits Sector sell-out Campari Group sell-out Aperol franchise, Campari & Sarti Rosa Outperformance vs Spirits Sector % of Aperol, Cam
Slide 6: Europe: Resilient performance in a challenging backdrop
EUROPE Resilient performance in a challenging backdrop Key Highlights Composition (Q1) Italy • Growth led by ongoing strong trend in the UK and positive 17% performance in core Italy and Germany markets Q1 Net Sales • France impacted by high comparison base in Campari despite Germany 6% € 275 mln so
Slide 7: North America: Solid underlying growth driven by the US and Jamaica
NORTH AMERICA Solid underlying growth driven by the US and Jamaica Key Highlights Composition (Q1) • US driven by very solid growth of Aperol franchise and growth in Espolòn, primarily in Blanco. Performance partially offset by USA 28% Q1 Net Sales targeted inventory optimisation in the US, supply p
Slide 8: Developing Markets: Widespread growth across most countries
DEVELOPING MARKETS Widespread growth across most countries Key Highlights Composition (Q1) • Double digit growth driven by broad based positive trends, especially in largest contributors Brazil and Argentina Brazil Q1 Net Sales 5% • Brazil driven mainly by Aperol while SKYY Cosmic continuing to Othe
Slide 9: APAC & GTR: Resilient trend amidst management change
APAC & GTR Resilient trend amidst management change Key Highlights Composition (Q1) • Positive trend in Australia supported by double digit growth in Aperol franchise and Espolòn (both bottle and RTD), slightly offset Q1 Net Sales by decline in Wild Turkey RTD € 48 mln Australia 3% • Solid growth in
Slide 10: 2026 Outlook Confirmed
OUTLOOK 2026 Outlook Confirmed • Industry outperformance with pace of 2025 full year underlying growth of c.3% expected to continue in 2026, assuming challenging but stable operating environment with no further deterioration • Contained organic accretion in EBIT-adj. margin with skew into H2 due to
Slide 11: Annex
Annex 11
Slide 12: Net sales by Region & House
ANNEX Net sales by Region & House Q1 2026 Q1 2025 change % of which: € million % sales € million % sales Total Organic Perimeter FX Europe 275 42.8% 272 40.9% +1.1% +1.9% -1.1% +0.2% North America 242 37.6% 262 39.3% -7.7% +2.2% -0.5% -9.3% Developing Markets 78 12.2% 74 11.1% +6.3% +12.7% -4.6% -1.
Slide 13: Restatement of regional structure
ANNEX Restatement of regional structure 2025 Net Sales € mln Q1 Q2 Q3 Q4 1H 9M 2025 Europe 272 423 334 337 695 1,029 1,366 North America 262 305 286 279 567 853 1,132 Developing Markets 74 75 68 84 148 216 300 Asia-Pacific & GTR 58 60 64 71 118 183 254 Total 666 862 753 770 1,528 2,281 3,051 2025 Ne
Slide 14: Exchange rate effects
ANNEX Exchange rate effects Average exchange rates Period end exchange rates Q1 2026 Q1 2025 Change 31 March 2026 31 March 2025 Change US Dollar 1.171 1.129 -3.5% 1.150 1.175 +2.2% Canadian Dollar 1.605 1.578 -1.7% 1.602 1.609 +0.4% Jamaican Dollars 183.774 179.717 -2.2% 181.605 186.719 +2.8% Mexica
Slide 15: Disclaimer
Disclaimer This document contains certain forward-looking statements relating to Campari Group. All statements included in this document concerning activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking
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