About this report
Note on presentation
The
annual
report
for
the
year
ended
31
December
2021
was
prepared
in
accordance
with
the
International
Financial
Reporting
Standards
(‘IFRS’),
issued
by
the
International
Accounting
Standards
Board
(‘IASB’),
as
adopted
by
the
European
Union
and
with
Part
9
of
Book
2
of
the
Dutch
Civil
Code.
The
designation
IFRS
also
includes
International
Accounting
Standards
(‘IAS’)
as
well
as
all
the
interpretations
of
the
International
Financial
Reporting
Standards
Interpretation
Committee
(‘IFRS
IC’),
formerly
the
Standard
Interpretations Committee (‘SIC’).
In
accordance
with
articles
15
and
18
of
Consob
Regulation
20249
of
28
December
2017
concerning
‘Conditions
for
the
listing
of
shares
of
parent
companies
that
control
companies
incorporated
under
and
regulated
by
the
law
of
countries
other
than
EU
Member
States’,
the
parent
company
Davide
Campari
Milano
N.V.
has
identified
its
significant
subsidiaries
as
defined
article
15,
paragraph
2,
of the above-mentioned Regulation, and verified that the conditions set out in paragraphs b) and c) of article 15 have been met.
Forward-looking statements
Campari
Group’s
annual
report
contains
forward-looking
statements
that
reflect
management’s
current
view
of
the
Group’s
future
development.
All
statements
other
than
statements
of
historical
fact
set
forth
in
this
annual
report
regarding
Campari
Group
business
strategy,
such
as
future
operations
and
businesses,
management’s
plans
and
objectives,
are
forward-looking
statements.
In
some
cases,
words
such
as
‘may’,
‘will’,
‘expect’,
‘could’,
‘should’,
‘intend’,
‘estimate’,
‘anticipate’,
‘believe’,
‘outlook’,
‘continue’,
‘remain’,
‘on
track’,
‘design’,
‘target’,
‘objective’,
‘goal’,
‘plan’
and
similar
expressions
are
used
to
identify
forward-looking
statements
that
contain
risks
and
uncertainties
that
are
beyond
the
control
of
the
Group
and
call
for
significant
judgement.
Should
the
underlying
assumptions
turn
out
to
be
incorrect
or
if
the
risks
or
opportunities
described
materialise,
the
actual
results
and
developments
may
materially
deviate
(negatively
or
positively)
from
those
expressed
by
such
statements.
The
outlook
is
based
on
estimates
that
Campari
Group
has
made
on
the
basis
of
all
the
information
available
at
the
time
of
completion
of
this
annual
report.
The
actual
impact
of
Covid-19
and its associated operating environment may be materially different from management’s expectations.
Factors
that
could
cause
the
actual
results
and
developments
to
differ
from
those
expressed
or
implied
by
the
forward-looking
statements
are
included
in
the
section
‘Risk
management
and
Internal
Control
System’
of
this
annual
report.
These
factors
may
not
be
exhaustive
and
should
be
read
in
conjunction
with
the
other
cautionary
statements
included
in
this
report.
Forward-looking
statements made in this annual report shall be evaluated in the context of these risks and uncertainties.
Campari
Group
does
not
assume
any
obligations
or
liability
in
respect
of
any
inaccuracies
in
the
forward-looking
statements
made
in
this
annual
report
or
for
any
use
by
any
third
party
of
such
forward-looking
statements.
Campari
Group
does
not
assume
any
obligation
to update any forward-looking statements made in this annual report beyond statutory disclosure requirements.
Information on the figures presented
All references in this annual report are expressed in ‘Euro’ or ‘€’.
For
ease
of
reference,
all
the
figures
in
this
annual
report
are
expressed
in
millions
of
Euro
to
one
decimal
place,
whereas
the
original
data
is
recorded
and
consolidated
by
the
Group
in
Euro.
Similarly,
all
percentages
relating
to
changes
between
two
periods
or
to
percentages
of
net
sales
or
other
indicators
are
always
calculated
using
the
original
data
in
Euro.
The
use
of
values
expressed
in
millions of Euro may therefore result in apparent discrepancies in both absolute values and data expressed as a percentage.
For
information
on
the
definition
of
the
alternative
performance
measures
used,
see
paragraph
‘Definitions
and
reconciliation
of
the
Alternative
Performance
Measures
(APMs
or
non-GAAP
measures)
to
GAAP
measures’
in
the
dedicated
paragraph
of
this
annual
report.
The
language
of
this
annual
report
is
English.
Certain
legislative
references
and
technical
terms
have
been
cited
in
their
original
language so that the correct technical meaning may be ascribed to them under applicable law.