Latest news with #CampariGroup
South China Morning Post
24-03-2025
- Business
- South China Morning Post
The US$48,000 single malt whisky from Scotch distiller that you'll have to smash open
Rare whisky is supposed to be in decline. Advertisement An extensive industry analysis published recently by financial advisory firm Noble reveals sales of top-shelf Scotch fell 24 per cent by volume and 34 per cent by value from the second quarter to the third quarter of 2024. Yet the ongoing parade of five-figure bottles hardly seems to be slowing. This month alone has seen the release of the oldest Irish single malt . That was followed a week later by The Glen Grant 65 Year Old, one of the costliest expressions to come out of the legendary Speyside still house. Now its next-door neighbour, The Glenrothes, is following suit with 'The 51' – the oldest and rarest single malt in its 146-year history. The Glen Grant 65 Year Old is one of the most expensive whiskies the Speyside distiller has ever produced. It launches amid a flurry of high-end Scotch single malt releases. Photo: Campari Group Just 100 bottles will be available worldwide priced at £37,000 (US$48,000) each. A stratospheric sum on its face, and yet a figure that has become exceedingly common in the perpetual one-upmanship of rare whiskies
Yahoo
07-03-2025
- Business
- Yahoo
Campari warns of possible tariffs impact on 2025
Italian spirits major Campari Group has warned of a potential impact from tariffs on its EBIT this year. The Aperol maker said it expected a possible €90-100m ($96-107m) hit from the 25% tariffs on Canadian, Mexican and EU imports for the 12 months of 2025. The US has levied tariffs on goods from Canada and Mexico. President Trump has yet to announce tariffs on EU imports and it is unclear what would be included in any measures. However, last week, the US President said he is lining up a tariff of 25% on EU goods to be announced 'very soon'. Campari's €90m-100m estimate does not account for any "potential mitigation actions" that may be taken by the business, that "are currently under assessment", the Espolon Tequila maker said. From March, the Wild Turkey distiller added it "expected" a possible €35m impact for the year from tariffs for Canadian and Mexican imports into the US. Campari's net sales grew 2.4% organically and 5.4% on a reported basis in 2024 to €3.07bn. Gross profit, corresponding to 57.6% of net sales, increased 3.9% on a reported basis and was up 2.4% organically to €1.8bn. Profit before taxation slid a significant 45.2% to €256m, while, in adjusted terms, it dipped 3.9% to €523m. Group net profit slumped 39% to €202m. Reported group adjusted net profit declined 3.7% to €376m. EBITDA dropped 20% to €520m, while adjusted EBITDA grew a meagre 0.5% to €732.6m. Campari booked net sales growth in all but one of its markets – APAC. The region, which makes up 7% of group sales, saw a 5.9% reported decline and 5.8% organic dip in total net sales in the 12 months. The group's Americas market, which accounts for 45% of group sales, and EMEA, which makes up 47.7%, saw net sales increase 8.3% and 4.2% respectively. In terms of categories, the Grand Marnier brand owner also reported a 6.6% net sales decline in its House of Whiskeys & Rum division for the full-year. In its results presentation, the group said the business unit saw "ongoing soft performance" in the US and Australia for Wild Turkey and Russell's Reserve. Campari also pointed to a "decline in Q4" in its Jamaican rum portfolio "across all core markets due to supply constraints" and a "pressure across all other whiskey". Fourth-quarter net sales beat consensus coming in at €793m, which Stifel analysts described as "a relief after the huge 3Q24 miss". The business announced it would be grouping together its spirits under the Houses of Brands model in October. At the time, Campari also revealed it would be implementing a new 'cost containment' plan, which looks to improve margins by 200 basis points. In February, the business then confirmed it was to carry out an 'organisational restructuring' in a bid to improve its financial position. The Milan-headquartered group said it envisioned 2025 as "a transition year". The business forecast continued "moderate organic full-year top-line growth", accompanied by "an improving trend in the second half of the year". Campari expects its 2025 organic adjusted EBIT margin to be "directionally flat" and its adjusted EBIT performance is anticipated "to be skewed" into H2 "due to the adverse phasing" impact on gross margin improvement, spending on A&P and its efforts to bear down on SG&A costs. "Campari warns of possible tariffs impact on 2025" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
03-03-2025
- Lifestyle
- Yahoo
Meet the Young Aristocrat That's Making Brunello Cool Again
This story is from an installment of The Oeno Files, our weekly insider newsletter to the world of fine wine. Sign up here. Thirty-year-old vintner Santiago Cinzano has just launched a new estate called Conti Marone Cinzano, where he is pioneering an unorthodox viticultural philosophy: selecting the best plot in any given vintage to create his wine, Lot.1 Brunello di Montalcino. Due to increasing climatic unpredictability, the plot changes every year and is selected during the ripening season based on the year's conditions and their influence on the vines. After realizing that members of his age group prefer other styles of wine to age-worthy Brunello with potentially hefty tannins, Cinzano launched his project with an eye toward making Brunello cool again. More from Robb Report $2.2 Million Worth of Ancient Artifacts Trafficked Through New York Are Returning to Greece and Italy Spring-Break Travel Prices Have Hit a Record High This Year How to Sell a Bottle of Wine From Your Collection The 10th generation of a winemaking dynasty whose surname is more closely associated with Vermouth and Asti Spumante than red wine, Cinzano notes that his friends prefer to drink styles such as Beaujolais, Trousseau from Jura, and crisp, fresh reds from the slopes of Mount Etna rather than what they consider an overly tannic red that may not be ready to drink for another 10 years. 'Don't get me wrong—I know that today Brunello's reputation is at an all-time high,' Cinzano says. 'But people my age want to drink cool wines. Montalcino, Brunello, today, they are not cool. They're prestigious. They're high end. They're historical. They're classic. But Brunello is not considered cool by 25- to 30-year-olds.' Ten years ago, Cinzano's father, Count Francesco Marone Cinzano, ceded 10 percent of the land owned by his Montalcino wine estate Col d'Orcia to Santiago and his brother to begin a project of their own. At that time, this portion of the estate had been planted with fields of grain, olive groves, and forests, which Santiago replaced with Sangiovese planted in bush-vine style. The elder Cinzano had sold the remaining 50 percent of his family's eponymous Vermouth and sparkling-wine brand when his own father died in a car accident in 1989, and his son's first line item in starting a new project was to use his family name on the bottle, which was easier said than done. The sale of Cinzano was a painful end to an illustrious family legacy dating back to 1757, and while Santiago wanted to reclaim the name, multiple legal consultants and attorneys told him it would be impossible. Unbeknown to Francesco, Santiago set up a meeting in Milan with Luca Garavoglia, chairman of Campari Group, the current owner of Cinzano. 'I presented this project, and he told me, 'As long as Campari owns Cinzano, I will never make your life difficult. Send me a bottle for Christmas. Please, use your family name, feel free,'' he says. And thus Conti Marone Cinzano was born, for which Santiago often uses the shorthand CMC. With his family name back in play, it was important to him to take a personal, intimate approach to every aspect of winemaking from vineyard to bottle, including his and Francesco's signature on the label and hand-numbering each bottle. Because his 10-year-old vineyard is not producing grapes of the quality necessary for such a special project, CMC Lot.1 is currently reliant on the vines of Col d'Orcia, where 272 acres are planted at 500 to almost 1,500 feet above sea level with many different expositions and multiple soil types. The vineyard has been broken down into micro-parcels so that the team can understand each and every plot as deeply as possible. Working closely with enologist Dr. Donato Lanati of Giacomo Conterno and Giuseppe Mascarello fame, Cinzano's Lot.1 is a single-vineyard wine, but it will not be from the same plot each vintage. 'In the past eight years we've seen the warmest year on record, the driest year on record, and the rainiest autumn on record,' Santiago says. 'We are seeing such a level of climatic variability and unpredictability that the concept of having to rely on a single plot is becoming less and less reliable.' With that in mind, Lanati analyzes grapes samples just after veraison, which indicates the onset of ripening. He is looking for aromatic precursors that at that point cannot be smelled or tasted in the grape; they are released only during fermentation. Lanati examines the grapes prior to full ripening and can predict the evolution of aromas, thereby choosing the best plots weeks before harvest and then narrowing it down to just one. 'When we are harvesting that parcel, we go even further, and it's a selection of the best bunches from that already selected parcel,' he says. 'The parameters allow me to do very short maceration and very delicate pump overs to have a fresh, approachable wine, but at the same time I can extract a lot of aromas.' Seeking to release a wine that's age-worthy yet still approachable, Santiago and Lanati's goal is a 'Brunello that even in its first year of release has tannins that are extremely integrated, extremely silky, and extremely round,' Lanati says. Cinzano's 2019 Lot.1 is derived from what he calls a 'textbook vintage.' Sourced from the estate's almost 40-year-old Canneto vineyard, the wine benefited from 'near perfect equilibrium' in its soil composition. 'The limestone, clay, and sandy components have great balance, which in a vintage like 2019, where you didn't need the most draining soil or the most retentive soil, you go for a very balanced soil,' he says. The plot's southern exposure and ample sunlight brought on perfect phenolic ripeness, which is necessary to make great wine. The entire lot was aged in a single large wooden tank called a botte and was transferred to bottle in August 2023. Conti Marone Cinzano 2019 Lot.1 Brunello di Montalcino is deep garnet in the glass and has a bouquet of cranberry, pomegranate, cherry, and vanilla with touches of saddle leather and tobacco leaf. Flavors of ripe summer cherry and dried cranberry are wrapped in brilliant acidity and polished tannins shot through with a bold vein of minerality. Shimmering acidity lingers into the drawn-out finish. If this wine doesn't make Brunello cool again, we wonder if anything will. Do you want access to rare and outstanding reds from Napa Valley? Join the Robb Report 672 Wine Club today. Best of Robb Report Why a Heritage Turkey Is the Best Thanksgiving Bird—and How to Get One 9 Stellar West Coast Pinot Noirs to Drink Right Now The 10 Best Wines to Pair With Steak, From Cabernet to Malbec Click here to read the full article.
