Premiumization Buoys Proximo’s FY 2022 Results in Face of Volume Slowdown

Dear Client:   Grupo Cuervo ended its fiscal year with global volumes up 7.4%, driven by volume increases in Mexico and 'rest of world', but weighed down by a 2.5% decrease in the US and Canada, per release. Global net sales were up 16%, driven by premiumization and volume growth.  "Underlying demand for our brands remain strong, allowing us to continue building on last quarter's momentum and position ourselves for a healthy start to 2023," said chief Juan Domingo Beckmann