Wray & Nephew spends €16m on capital projects
Published:Wednesday | September 3, 2025 | 12:05 AM
Investment in sustainability projects and other capital programmes at J. Wray & Nephew Jamaica Limited, JWN, amounted to €16 million, at half-year, amid tariff uncertainty.
“Jamaican distilleries are advancing projects to upgrade local utility infrastructure, including high-efficiency heat and power generation, a new steam plant, and water reuse systems,” said Campari Group, the Italian owner of JWN.
JWN is the producer of the Wray & Nephew and Appleton rum brands. It also distributes other spirits such as Campari and Magnum.
The capex equated to about $3 billion in local currency. More than half the total, €9.3 million ($1.75 billion), was allocated to recurring expenditure, including the acquisition of rum barrels for ageing. The remaining €6.7 million ($1.25 billion) was directed towards energy initiatives aimed at reducing emissions.
“Across the manufacturing network, a range of technical projects is under way, including energy and water balance audits and the digitalisation of energy data — all aimed at improving energy efficiency and reducing emissions across operations,” Campari said.
The investment forms part of the group’s ‘Climate Transition Plan’, which guides “decarbonisation” actions through to 2030.
The JWN projects represent about 20 per cent of Campari’s total group capital expenditure, which reached €82 million in the first half of 2025. Jamaica contributed 5.1 per cent to Campari’s global €1.5 billion in sales.
The United States has announced a 10 per cent tariff on Jamaican exports, citing trade imbalances and domestic protectionism. Campari estimates the impact on its Jamaican export margins at €1 million to €2 million.
“The impact for Campari Group was limited to imports from the European Union and Jamaica into the United States,” the company noted in its financials, adding that although the tariffs were suspended during the first half of the year, they pose significant risks to the US beverage alcohol industry for the remainder of 2025.
The group expects to absorb a €50-million hit from tariff-related volatility.
“The United States’ newly announced tariffs, and the threat of retaliatory measures, add to the volatility. Although some tariffs are temporarily suspended, their potential impact on global trade and growth could be significant,” Campari added.
Revenue from the group’s Jamaica operations fell nearly 10 per cent year-on-year to €71 million in the first half of 2025, from €79 million in the same period in 2024. Campari attributes the decline to geopolitical headwinds, foreign exchange movements, and temporary disruption in export flows.
Group sales were flat compared to the previous year, while net profit declined by five per cent to €206 million, impacted by a series of headwinds and higher input costs.
“In the first half of 2025, the macroeconomic environment had become increasingly uncertain. Recent indicators point to a moderation in growth prospects, with declining business confidence and rising economic policy uncertainty, exacerbated by escalating trade tensions,” Campari said.