Ordinary Shareholders' meeting of Davide Campari-Milano S.p.A

  • Company’s accounts for the fiscal year ending 31 December 2010 approved
  • Dividend of € 0.06 per share (unchanged versus last year’s dividend) approved

Milan, April 29, 2011 - The Shareholders’meeting of Davide Campari-Milano S.p.A. today approved the company’s accounts for the year ending 31 December 2010.

The Shareholders’ meeting approved a full year dividend of € 0.06 per share (unchanged versus last year’s dividend). The dividend will be paid on 26 May 2011 with the exception of treasury shares, with the prior detachment of coupon no. 8 on 23 May 2011.

Consolidated results 2010

As announced on March 21, 2011, in 2010 Group sales totalled€ 1,163.0 million (+15.3%,+8.4% organic growth).

Contribution after Advertising & Promotion(gross margin after A&P) was up by 15.6% to €463.6 million (+8.3% organic growth), or 39.9% of sales.
EBITDA before one-offs was up by 12.6% to€ 298.6 million (+8.2% organic growth), or 25.7% of sales. EBITDAreached € 295.3 million, an increase of 13.1%.
EBIT before one-offs rose by 13.8% to€ 272.8 million (+8.8% organic growth), or 23.5% of sales. EBIT reached€ 269.5 million, an increase of 14.4%.
Profit before tax and minority interests reached€ 232.9 million, an increase of+17.5%.
Net income reached € 156.2 million, an increase of +14.0%.

As of 31 December 2010, net financial debtstood at € 677.0 million (€ 630.8 million as of 31 December 2009). In 2010 the Group finalized investments in acquisitions for an overall amount of
€ 149.6 million, including the acquisition of Frangelico, Carolans and Irish Mist brands from William Grant&Sons, completed as already announced, on October 1, 2010 for a total consideration of
€ 128.5 million.

Other resolutions

Own shares. The Shareholders’ meeting authorised the purchase and/or sale of own shares, mainly to be used to service the stock option plans. The authorisation concerns the purchase and/or sale of shares, which, including existing own shares, shall not exceed a maximum of 10% of the share capital. The authorisation will remain valid until 30 June 2012. The unit price for the purchase and/or sale of own shares will not differ by more than 25% (whether upwards or downwards) from the weighted average price in the three stock market trading sessions prior to each transaction.

Stock options. The Shareholders’ meeting approved a stock option plan pursuant to Art. 114-bis of the Consolidated Law on Financial Intermediation and in accordance with the stock option master plan approved by the Board of Directors of 18 March 2009 and by the Shareholders’ meeting of 30 April 2009, that does not concern the company’s directors. The company disclosed an information document regarding the new stock option plan pursuant to applicable law (article 84-bis, Consob Regulation no. 11971/99).

The Executive responsible for preparing Davide Campari-Milano S.p.A.’s financial reports, Paolo Marchesini, certifies -pursuant to article 154 bis, paragraph 2 of the Legislative Decree 58/1998 - that the accounting disclosures in this statement correspond to the accounting documents, ledgers and entries.

Publishing date: 
29 Apr 2011
Last updated May 06 2013