May 5, 2020 / 9:37 AM / 24 days ago

Campari reports falling Q1 sales as virus hits Aperol demand

MILAN, May 5 (Reuters) - Italian drinks group Campari said on Tuesday its sales fell 5.3% on an organic basis in the first quarter of the year as the lockdown imposed to contain the spread of the coronavirus dented demand for its aperitifs, including Aperol.

Total sales were down to 360 million euros in the first three months compared with 370 million euros last year. Demand for Aperol, its best selling drink, was almost flat in the quarter compared with the same period last year.

Campari said the impact of the pandemic could worsen in the second quarter and the beginning of the third, the peak season for the high margin and on-premise skewed aperitif business.

With the gradual lifting of the restrictive measures across countries, the negative impact is expected to lessen in the rest of the year, it added. (Reporting by Francesca Landini, editing by Giulia Segreti)

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