Damm increases profit by 35% despite falling sales

BarcelonaDamm closed the 2024 financial year with a turnover of 2.025 billion euros. Thus, for the second consecutive year, it maintained revenues above 2 billion euros, although a decrease in sales is evident, since In 2023, turnover was 2.061 billion euros.. However, it achieved a net profit of €175 million, 35% more than the previous year, "thanks to the positive development of activity in its main markets, along with efficient operational and cost management," the company explains.

The results were presented this Tuesday at the general shareholders' meeting, held at the Old Estrella Damm Factory, where the annual accounts and dividend payments were approved. The consolidation of sales volume in the beverage division—which includes beer, water, soft drinks, and dairy products—allowed Damm to close the year with 21 million hectoliters sold. This performance was compounded by the positive performance of the catering and local distribution areas, which contributed to the consolidation of the group's revenue.

The company's CEO, Demetrio Carceller Arce, explained that the results "demonstrate the solidity of Damm's business model and its ability to generate long-term growth." "They also demonstrate the efforts the company has made to increase its profitability in a complex environment, marked by persistent inflation, moderate consumption, and high global uncertainty," he added.

Agreement with Nestlé

Damm noted that it signed an agreement with Nestlé in 2024 to produce, market, and distribute Nestea in Spain, Andorra, Gibraltar, and Portugal starting this year, as part of its diversification strategy and the pursuit of new growth opportunities in complementary segments.

On the other hand, internationalization "remained one of Damm's main growth drivers in 2024," the company says, with brands in more than 130 countries and own-brand exports to 87 markets. Furthermore, the company made progress in the comprehensive renovation of its Bedford (United Kingdom) plant, acquired in 2022, which allows it to operate more efficiently and sustainably in one of its main markets.

Carceller Arce noted that Damm has 500 people dedicated to international operations and highlighted a "solid performance" for the brands abroad, driven both by the consolidation of existing markets and the opening of new ones.