Damm exceeds 2,000 million euros in turnover in 2023
Support for the hospitality industry, internationalisation and transitioning to an energy self-consumption model have been the company’s main commitments in a year marked by cost increases
Damm reached 2,061 million euros in turnover in 2023, up 10% with respect to the previous fiscal year, and an EBITDA of 300 million, a 24.6% jump. The company thus managed, two years ahead of schedule, to reach the turnover target set in the 2022-2025 strategic plan. The results were announced at the company’s General Shareholders' Meeting, which was held this morning at the Estrella Damm Old Brewing and at which last year’s results and dividend distribution were approved.
During 2023, the company demonstrated a high capacity for resilience in the face of a challenging environment marked by an increase in the prices of energy, materials and raw materials. Despite this, Damm achieved significant growth driven by the strong demand for their products in the markets and channels in which they operate. The positive strides made in their activities and a major cost-control effort to make their entire value chain more efficient have enabled the company to obtain a net profit of 130 million, 28.2% higher than in the previous fiscal year.
The Executive Chairman of Damm, Demetrio Carceller Arce, highlighted the group’s current strength as a starting point to continue growing and, above all, the effort made to promote the different brands and their ties and commitment to the different territories.
During the last fiscal year the company consolidated the sales levels of its beverages businesses (beer, water, soft drinks and dairy drinks) and closed the year with a sales volume of 20.8 million hectolitres. These positive strides in its operations have enabled the company to increase its workforce which now totals 5,765 persons.
During his speech, Carceller Arce was optimistic regarding the results of the current year. “The strength of the internal demand for our products, the positive outlook for tourism, and the international development of our distribution make us confident that 2024 will also be a year of growth for Damm,” he stressed. During the event, the new composition of the Board of Directors was approved which, with the departure of Raimundo Baroja and Ramón Armadás, has gone from seven to five members.
Acceleration of technological processes through AI
After having consolidated a high degree of digital maturity in 2023, Damm took another step to continue enhancing its growth and competitiveness through innovation with the acquisition of 60% of the company Nennisiwok, specialised in artificial intelligence. In this way, Damm will be able to accelerate some of the internal projects aimed at applying AI tools in the production and marketing of beers, as well as in other projects that make it possible to improve the company’s efficiency.
Good progress in the international expansion of the company
The evolution of the company’s international business maintains its positive trend. Damm have a staff of over 500 persons dedicated exclusively to the international activities of the company. In addition, Damm currently already have two factories outside Spain, one in Santárem (Portugal) and another in Bedford (United Kingdom).
Currently, Damm brands are present in more than 130 countries and are exported under their own brand to 94, with the United Kingdom, the United States, Canada, Portugal and China being positioned as the main international markets.
Commitment to the environment and to society
During the last fiscal year, the company continued to promote those industrial investments that prioritise efficiency, productivity and minimising the environmental impact of its operations. In 2023, Damm have continued to expand their energy self-consumption capacity by installing solar panels, which has allowed them to double the surface area of the photovoltaic park, reaching an area of 59,000 m2, The project, with an investment of over 3.5 million euros, reaffirms Damm’s position as the brewery with the largest extension of panels in the Iberian Peninsula. In addition, since 2014, the organisation guarantees that 100% of the electric energy used comes from certified green energy sources.
As for their social commitment, through the Damm Foundation, Damm promote actions that have a positive impact on both the environment and society of the territories where they are present. The entity highlights its commitment to grassroots sport as a tool for promoting physical activity, healthy habits and the values associated with sport. The Damm Foundation continues to make progress in the construction of its sports city, a space located in the Montjuïc hill of Barcelona, and its inauguration is expected to take place later this year, in 2024. The new complex, which will occupy a surface area of 30.000m2 , has been designed following the sustainability and energy efficiency criteria required to achieve Nearly Zero Energy Building (NZEB) facilities with energy self-sufficiency.
