May 5, 2020 / 9:32 AM / a month ago

BRIEF-Campari Q1 Adjusted EBIT At EUR 47.9 Mln

May 5 (Reuters) - Davide Campari Milano SpA:

* Q1 ADJUSTED EBIT MARGIN 13.3%

* Q1 SALES EUR 360.2 MILLION VERSUS EUR 370.1 MILLION YEAR AGO

* Q1 SALES DOWN 5.3% ON ORGANIC BASIS

* RESULTS REFLECT INITIAL IMPACT OF COVID-19 ON TOP OF A TOUGH COMPARISON BASE

* OVERALL IMPACT OF COVID-19 FOR CURRENT YEAR REMAINS UNCERTAIN AND DIFFICULT TO BE ASSESSED

* EXPECTS ITS PERFORMANCE TO BE MORE IMPACTED IN SECOND QUARTER AND THE BEGINNING OF THIRD

* WE ARE ACCELERATING PROGRAMS IN DIGITAL TRANSFORMATION AND E-COMMERCE - CEO

* APEROL AND CAMPARI FLATTISH IN Q1 (-0.2% AND +0.3%, RESPECTIVELY)

* APEROL AND CAMPARI ORGANIC GROWTH IN Q1, EXCLUDING ITALY, WOULD HAVE BEEN RESPECTIVELY +22.1% AND +9.3%

* Q1 SALES IN THE AMERICAS (50.6% OF TOTAL GROUP SALES) SLIGHTLY DOWN ORGANICALLY BY -0.9%

* CAMPARI CEO SAYS STRONGLY POSITIONED AND READY TO ACCELERATE GROWTH AS SOON AS CONSUMER DEMAND NORMALISES

* WITH GRADUAL LIFTING OF RESTRICTIVE MEASURES ACROSS MARKETS, NEGATIVE IMPACT IS EXPECTED TO LESSEN THROUGHOUT REMAINDER OF YEAR BASED ON CURRENT VISIBILITY

* CEO SAYS CONTINUING TO EXECUTE M&A STRATEGY FOCUSED ON LONG-TERM BRAND BUILDING

* ANNOUNCES SIGNING OF AGREEMENT FOR ACQUISITION OF CHAMPAGNE LALLIER

* CEO SAYS FINANCIAL PROFILE REMAINS VERY SOLID

* CONSIDERATION TO BE PAID FOR CHAMPAGNE LALLIER IS €21.8 MILLION, WHICH REPRESENTS 80% OF SHARE CAPITAL OF COMPANY

* CHAMPAGNE LALLIER DEAL IS EXPECTED TO CLOSE DURING THIRD QUARTER OF 2020 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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