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Zamora Company turnover falls 17.2% in 2020

Spanish drinks producer Zamora Company saw its turnover drop by 17.2% to €172 million (US$205m) in 2020, following a ‘challenging’ year.

Zamora range updated
Zamora Company turned over €27m (US$32m) in 2020

The company’s spirits sales accounted for 55.8% of total turnover. The Spanish group produced €27m (US$32m) in earnings before interest, taxes, depreciation and amortisation (EBITDA) in 2020, 3.8% lower than in 2019.

Emilio Restoy, CEO of Zamora Company, said: “We have been able to curb the business loss to only -3.8%, which clearly shows the success of our management. We have managed to achieve these savings by cutting down operating-related expenses and/or reducing structures.

“When we were living through the worst spell in 2020, we strengthened our commitment to our human team, embracing remote work and guaranteeing 100% of their base salary.”

Despite the sum of the company’s earnings resulting in a 17.2% drop compared with the year previously, Zamora Company credits the international market as one of the major factors that made the company stronger against the effects of the pandemic, accounting for 47.5% of the company’s turnover.

Contributing to sales was Zamora’s Licor 43, which saw an increase in off-trade sales of 21% in the US, 12% in Holland and 3% in Germany.

The company’s Martin Miller’s Gin witnessed a sales growth of 19.4% in the UK.

Restoy said: “The trend varies depending on the specific market. It’s true that day-time restaurants and bars look as if they may rally in the medium term, but the night-time bars and clubs continue to suffer greatly.”

In markets where Zamora has greater emphasis on the bar and restaurant trade, such as Spain, turnover was heavily impacted because of Covid-19 restrictions on trading. However, these measures triggered a 300% increase in online sales for the company, and an 11% increase in household demand for the the Spanish company’s products.

New innovation

Across 2020, Zamora Company brought out eight new products globally, with an increase in household consumption opening ‘new paths and opportunities’ for its brands.

Restoy said: “2020 marked the birth of Lalomba, Ramón Bilbao’s single-vineyard wine project, and our launch of ready-to-drink (RTD) Carajillo 43 in Mexico has proved to be very popular, as well as our Villa Massa Amaretto in 2021.”

Zamora’s RTD Cocktail 43 Fresco was listed as a top new product by The Spirits Business in 2020.

This year, the company plans to introduce as many as seven new products.

“We firmly believe that stepping up our investment in innovation will greatly help to build the brand and speed up the recovery in the next few months, as our trampoline for growth.”

2021 progress

So far this quarter, Zamora company has recorded a 2% growth in sales, compared with figures from last year. The group reports that this is largely supported by the opening of bars and restaurants in Spain, and worldwide.

Restoy commented: “We estimate a double-digit growth for our main brands, Licor 43, Ramón Bilbao, Mar de Frades, Martin Miller’s Gin and Zoco.”

Zamora Company is aiming to consolidate a strategic plan for the future, and return to pre-pandemic turnover figures with a €3m (US$3.5m) digital transformation project.

The company is also aiming to achieve sustainability goals with its €4m (US$4.7m) conscious company project, and a goal to source 90% of its power consumption from renewable energy by 2025.

Earlier this year, Zamora joined the United Nations Global Compact as part of its commitment to sustainability.

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