Damm exceeds 2 billion in revenue after growing 10% in 2023

It is difficult for a century-old company to register double-digit growth, but it is possible. This has been demonstrated by Damm, a brewing group based in Barcelona that managed to exceed 2,000 million euros in turnover for the first time in 2023, after posting a 10% growth. Specifically, the company chaired by Demetrio Carceller Arce has reached sales of 2,061 million euros, fulfilling its 2022-2025 strategic plan two years ahead of schedule.

Much more intense has been the evolution of the group's profitability, which has raised EBITDA to 300 million euros, up 24.6%, and net profit to 130 million, 28.2% more than in the previous year. "The strength of the domestic demand for our products, the positive prospects for tourism, and the international development of our distribution, make us confident that 2024 will also be a year of growth for Damm," said President Carceller regarding the prospects for the current year during the general shareholders' meeting held this Monday at the Antigua Fábrica Estrella Damm, where the company's corporate headquarters are located.

Damm highlights that these good results demonstrate "a high capacity for resilience in the face of a challenging environment marked by the increase in energy, material, and raw material prices." Among the keys to the year, the company highlights "the solid demand" for its products in all markets and channels where it operates, as well as "a significant cost control effort" that has allowed its entire value chain to become more efficient.

For Carceller, "the current solidity of the group" represents an excellent starting point to continue growing and promoting the company's internationalization plan, which is already present in more than 130 countries and exports under its own brand to 94. Damm's main foreign markets are the United Kingdom, the United States, Canada, Portugal, and China. The Barcelona-based group highlights that it already has a team of 500 people working exclusively to boost international business. Outside of Spain, Damm has two factories located in Santarem (Portugal) and Bedford (United Kingdom).

Damm operates in the beer and mineral water business (Veri and Fuente Liviana) and also produces soft drinks and dairy products ---it owns brands such as Cacaolat---, with a total of 20.8 million hectoliters marketed last year. In total, the group employs 5,765 people. In the middle of last year, the company acquired 60% of Nennisiwok, a firm specialized in artificial intelligence that will help the group "continue to boost its growth and competitiveness through innovation." With this purchase, Damm intends to accelerate internal projects aimed at applying AI tools both in its production lines and in the commercialization of beer.

In 2023, Damm invested 3.5 million in expanding its energy self-consumption capacity through the installation of solar panels. The project has allowed it to double the surface area of its photovoltaic park, which now totals 59,000 square meters.

Damm also announced today that this year it plans to inaugurate the sports city of its football club on Montjuïc mountain, a project it carries out through the Damm Foundation and which will occupy an area of 30,000 square meters.