Full Year 2024 Davide Campari Milano NV Earnings Call Transcript
Key Points
- Davide Campari-Milano NV (DVDCF) achieved a 2.4% organic top line growth and a 5.2% total growth despite challenging macroeconomic conditions.
- The company reported a solid performance in Q4 with a 3.4% increase in top line and a 40 basis points improvement in gross margin.
- The House of Brands structure is expected to drive more focused and structured growth, leveraging geographic expansion opportunities.
- The company has a strong brand portfolio with significant growth potential, particularly in the US market where Aperol's awareness is still low.
- Davide Campari-Milano NV (DVDCF) is committed to its ESG journey, having made significant steps and improvements in its S&P Global ESG rating.
- The company faced significant macroeconomic and geopolitical volatility in 2024, impacting consumption patterns and leading to destocking across the trade.
- Poor weather conditions in Europe negatively affected sales, particularly during the peak season.
- The company anticipates ongoing cyclical headwinds in 2025, viewing it as a transition year with moderate organic growth.
- There is a potential impact from recently announced tariffs on imports from Mexico and Canada into the US, estimated at around €50 million annually.
- The company experienced a 2.5% decline in adjusted EBITDA due to increased depreciation and amortization from its extraordinary CapEx program.
Good evening. This is the Chorus call conference operator. Welcome and thank you for joining the Compari Group full year 2024 results conference call.
As a reminder, all participants are in listen-only mode.
After the presentation, there will be an opportunity to ask questions. Should anyone need assistance during the conference call, they may signal an operator by pressing and 0 on their telephone.
Today's call will be hosted by Mr. Simon Hunt, Chief Executive Officer, and Mr. Paulo Marchezzini, Chief Financial and operating officer.
I will now hand you over to Mr. Marazzini. Please go ahead, sir.
Good evening. Good afternoon to everybody. I am pleased to be here again with all of you to review our 2024 results and give you our initial perspectives for fiscal year 2025.
But more than that, I'm happy to be joined here by Simon, whom I'll leave the floor to in in a few seconds.
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