David Campari said it did not expect profitability to increase this year, as the toughest benchmark and uncertainty in the world overshadows the coming quarters, despite the increase in sales and profits in the first quarter.
The quarter’s sales amounted to 534.8 million Euros, an organic increase of 29% from 397.9 million Euros a year ago, Campari stressed.
Analysts expected sales to reach 460 million euros.
Adjusted earnings before interest and taxes increased by 59% to € 114.3 million and operating margin increased by more than 4% to 21.4%.
Adjusted earnings before taxes increased 74% to 111.7 million Euros.
Despite a very stable start to the year, the company is not changing its estimates for a stable organic margin of EBIT for 2022, said CEO Bob Kunze-Concewitz.
Source: Capital
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