Zamora sees 9.8% boost in profit.
Zamora Company witnessed a 9.8% lift in net profit and a 56% reduction in debt during 2024, according to its latest results.
The Spanish company, which owns Licor 43 and Ramón Bilbao among other premium wine and spirits brands, saw its profit rise to €19.5 million and its debt reduced to €23 million.
The annual accounts revealed and approved at the business’s recent general shareholders meeting were said to be “the outcome of the efficiency and cost optimisation policies” which have led to improved margins”.
In the last four years, net profit for Zamora Company has increased by 18% from €16,5 million in 2021 to €19.5 million last year.
Last year, Zamora Company took full control of the Martin Miller’s Gin brand with the acquisition of 100% of its shares after becoming a majority shareholder in 2018 with the purchase of 55% of its shareholding and acquiring 80% in 2022. The company also invested two €2 million last year in the expansion of the Villa Massa limoncello plant in Italy, doubling its production capacity.
Zamora Company CEO Javier Pijoan said: ‘We have made the right operational and organisational decisions, consolidating the ‘One Agile Global Company’ (OAGC) operating model, which is moving us towards a more agile, efficient and sustainable system.”
In terms of business, Latin America and the US have driven sales, and the strength of Zamora Company’s “internationalisation strategy” has seen it increase its international business by almost two percentage points to represent 55.4% of global sales, compared to 54% the previous year. These markets have also assisted in Zamora Company partially offsetting the slight contraction in the European markets. Overall, the company’s key global markets were the US, Germany, the Netherlands, Brazil and Mexico.
By brand, Licor 43 accounted for 44% of the company’s revenues in 2024, followed by Ramón Bilbao (27%), Mar de Frades (6%), Villa Massa (5%) and Martin Miller’s Gin (4%).
Zamora Company president Jose Maria de Santiago explained: “The 2024 financial year has tested the group’s vision for the future. Despite the difficulties that the sector is going through due to the generalised change in global consumer trends, we are still committed to consolidating our business model by strengthening the structure, investing in talent, brands and sustainability.”
Maria de Santiago added: “At Zamora Company we want to continue leading the change that our sector is undergoing.”
Information from The Drinks Business
