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amm estimates that 20% of hospitality sector establishments will not reopen as a result of the pandemic. To help its main clients, the Catalan company has activated a support plan for these types of businesses, with various initiatives such as the free replacement of beer kegs that were half-consumed in bars during the months of confinement.
As establishments have reopened, Damm has delivered new kegs and removed more than 3.5 million liters of obsolete beer. This volume is equivalent to 18 million pints that have been recycled by being transformed into 100% renewable energy. The process has been carried out at the group's plant in El Prat de Llobregat, in tanks where the beer has been mixed with specific microorganisms that digest it, producing a gas of biological origin. Subsequently, once separated, the biogas is washed and purified, and used as fuel in a cogeneration plant that produces 100% renewable electricity for the factory itself.
"One of the fundamental pillars of our environmental sustainability policy is our commitment to the circular economy. Therefore, instead of generating waste from recovered beer, we are giving it a second life by transforming it into renewable energy, a measure that will allow us to reduce our carbon footprint by about 250,000 kg," says Karen Peiró, master brewer at the Damm factory in El Prat de Llobregat. "Through this process, we estimate to generate almost 670,000 kWh of electricity, equivalent to the average monthly consumption of about 2,500 Spanish homes," adds the expert.
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With the aim of consolidating its commitment to the circular economy, Damm announced during its general shareholders' meeting the establishment of a Sustainability Committee, a body that will evaluate and channel proposals in this area in line with the guidelines established by the board of directors chaired by Demetrio Carceller.
The businessman has taken advantage of the board meeting in which the 2019 accounts were approved to emphasize that the company's "financial strength" has allowed it to "face with solvency the significant impact" that the pandemic has had on its business. Damm obtained a net profit of 120 million euros last year, up 7%, after obtaining a record turnover of 1,385 million euros, 10% higher than in 2018. These figures will be difficult to repeat this year, as the increase in beer sales in supermarkets ---a 21.5% rise between January and July--- has not been able to compensate for the sharp decline in the hospitality sector.
Distribution of a dividend of 62.9 million
Despite the current economic situation, Damm has decided to maintain the remuneration to its shareholders and has allocated more than half of its profit (62.9 million) to dividend distribution. Damm's main shareholders are the Canary Islands oil company Disa, the German food group Dr. Oetker (25%) and the Carceller family, also a shareholder of Disa.
The company that owns Estrella Damm, Xibeca, Veri and Fuente Liviana has given a strong boost to its international business in recent years by presenting itself to the world as the beer of Barcelona. The company entered thirteen new countries in 2019 and now already obtains 30% of its income from the foreign market, where it is present in 133 countries.