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Campari group: keeping up with the pace
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This Master’s Thesis objective is to find the intrinsic value of Campari Group and suggest an investment
decision based on the total return for a holding period of one year, from 1st of January 2023 to 31st December
2023. After growing above competitors over the last decade with its star beverage Aperol at the helm, Campari
has built a reputation for growth that they ought to maintain. Throughout the report we defend Campari as a
solid business with a proven track record of execution and plenty of growth avenues. However, awareness is
raised regarding previous acquisitions high price points as well as current valuation multiples that seem to
overestimate potential growth. We therefore suggest a HOLD position with a 31st December 2023 projected
share price of EUR 10.39 and a holding period return of 2.97%, including dividends.
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Campari Spirits Alcohol Drink