Q2 2020 Davide Campari Milano NV Earnings Call Transcript
Good afternoon. This is the Chorus Call conference operator. Welcome. And thank you for joining the Campari Group Second Half 2020 Financial Results Presentation. (Operator Instructions)
At this time, I would like to turn the conference over to Mr. Bob Kunze-Concewitz, CEO of the Campari Group. Please go ahead, sir.
Thank you very much. Good afternoon, everyone, and welcome to our first half 2020 call. If you follow me on Page #4 of our presentation, I'll kick off with the highlights.
Overall, as expected, our strong brand momentum was affected by market-specific channel SKU as well as destocking and this, particularly in Q2.
Looking at net sales, the full effect of the pandemic as well as the subsequent restrictive measures across all our key markets were, as expected, registered during the Q2 period, leading to a 15.9% decline with after the initial effects in Q1, you'll remember, we were down by 5.3%, which leads to an overall
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