The president of Damm, Demetrio Carceller, announced this Friday the results for the 2020 fiscal year, still in the final accounting closing phase. In a conference organized by the Matins Esade forum, the businessman assured that Damm "despite everything, managed to close 2020 with a positive result, with profits, despite registering a drop in sales of around 11%." Thus, the pandemic would have subtracted around 150 million euros from the group's turnover, which will be around 1,235 million euros, compared to the 1,385 million achieved in 2019. In that year, Damm's net profit reached 120 million. It is estimated that supermarket sales have grown by 20%, but this increase has not been enough to compensate for the fall in the hospitality sector, the most important for the company, as it generates 60% of its business.
According to Carceller, the key to avoiding losses lies in the financial strength of the company's liability structure, in the diversification of the business into different channels, in the international expansion process, and "in the effort" of the employees. "At Damm, our best asset is people, and I must thank the effort of our 5,000 professionals," he assured.
At the meeting, the president explained how Damm reacted to the fact that overnight it had to stop serving the more than 45,000 clients that the group has in the restaurant sector due to the lockdown. "Given a situation like the one we have experienced in recent months, in cases of companies like Damm that provide basic services and cannot stop their production, it was vitally important to anticipate and have contingency and continuity plans to face any situation," he expressed.
Carceller also explained the measures adopted by Damm to support the restaurant sector and its reopening process. In his opinion, once the pandemic ends, approximately 30% of establishments will not reopen. In this regard, the also president of the Spanish Brewers' Association has called for the urgent need to promote a plan of direct aid to the hospitality sector. "We do not believe that this crisis can be overcome without direct aid. We must act urgently, and there will be no recovery this summer if we are not prepared and open and without restrictions by June 1," he warned.