Campari Group reported Q1 2026 organic net sales growth of +2.9% on 6 May 2026, against reported net sales of €643 million. Q1 is Campari’s smallest quarter – typically less than 20% of annual sales – and reading a single quarter in isolation would be the wrong analytical frame. The more important number in the Q1 2026 release is not the quarterly figure. It is the moving annual total.
MAT organic growth reached +3.9% in Q1 2026 – up from +2.4% at full year 2025 and from a trough of +1.4% at Q1 2025. The twelve-month rolling trend is accelerating. That is the signal that Q1’s reported number obscures and the quarterly presentation makes invisible. Understanding why it is accelerating – and which decisions are driving it – is where the Q1 2026 results become analytically useful.
“We started 2026 with a solid performance in our smallest quarter by executing our new strategy of fewer, bigger bets. Despite the challenging operating backdrop, we gained market share in nearly all our key markets globally, especially on our priority brands. At the same time, we made good progress on our more focused brand investments and innovation pipeline ready for our peak season. This solid start means we are confirming our guidance for 2026.”
Simon Hunt, CEO, Campari Group – Q1 2026 Net Sales, 6 May 2026
The MAT trend is the right frame
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