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Drinks

Italy's Campari To Offer Shares To Employees From 2022, Says Union

Italian drinks firm Campari will offer employees the option of receiving a portion of their salaries in the group's shares starting from next year, the FIA CISL union has said, after it gave its approval to the drinks group's project.

The initiative will target the group's 4,000 workers and give them the chance of getting bonus shares if they buy and hold shares for a certain period.

The union said it would allow staff to share in the group's financial results, and encourage them to be more informed and take decisions on Campari's future by attending shareholders' meetings.

"We hope other groups will take similar initiatives," FIA CISL said in a statement.

First-Half Performance

In July, the drinks group said that its first-half sales increased 37%, following the reopening of the HoReCa channel. Drinks consumption at home also helped boost sales, the company said.

"Whilst uncertainty linked to the spread of COVID variants and the possible re-introduction of new restrictive measures persists, we remain confident about the continued strong brand momentum, fuelled by sustained marketing investments, accelerating in aperitifs peak season," chief executive Bob Kunze-Concewitz said in a statement at the time.

Earnings before interest and taxes (EBIT) rose 89% on an organic basis to €223 million in the H1 period.

News by Reuters, additional reporting by ESM. For more Drinks news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

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