Q1 2024 Davide Campari Milano NV Earnings Call Transcript

May 09, 2024

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May 07, 2024 / 11:00AM GMT
Operator

Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining in the presentation of Campari's First Quarter 2024 Results Conference Call. (Operator Instructions)

At this time, I would like to turn the conference over to Mr. Matteo Fantacchiotti, CEO of Campari. Please go ahead, sir.

Matteo Fantacchiotti - Davide Campari-Milano N.V. - Group Deputy CEO

Thank you very much, and good morning, afternoon and evening, everyone, and thank you very much for joining us. Very pleased to lead this first 2024 performance update and first quarter results presentation together with Paolo, of course, and the Investor Relations team right here in the room with us.

So going straight into it. Organic sales were up plus 0.2% with solid underlying trends against a tough comparison base. due to temporary phasing effect in Q1 2023 from trade forward buying ahead of price increases. As a reminder, we grew Q1 2023 around plus 20%. So overall, we observed continued strength in operatives led by Compari Aperol, despite the challenging

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