Zamora Company sales fall 2% in 2025
Licor 43 owner Zamora Company failed to post growth in 2025, following its three successive record years from 2021 to 2023.
The company’s net sales of €255 million (US$291m) for the full-year 2025 were down by 2% on the year prior.
In 2024, the company’s net sales also declined by 2.9% on 2023’s number, when the Madrid-headquartered company recorded the highest turnover in its 77-year history.
Zamora Company attributed the results to a ‘complex environment’ that has seen the wine and spirits industry hit with a global slowdown in consumption, shifting consumer habits, and international geopolitical uncertainty.
“The sector is going through a period of transformation, and 2025 has once again demonstrated the importance of maintaining a long-term vision and responsible, efficient management in a changing environment,” said Zamora Company’s president José María de Santiago.
“We are facing a structural shift in consumer habits that is forcing all of us to redesign the industry to turn challenges into levers of opportunity.”
Despite its net sales dropping again, Zamora Company’s net profitability was up by 6.1% in 2025 to €20.7m (US$23.6m). Over the last five years, net profit has increased by 25.4%.
The company’s debt was also reduced by 22.1% to €17.9m (US$20.4m).
Its EBITDA [earnings before interest, taxes, depreciation and amortisation] in 2025 was €46.9m (US$53.6m).
CEO of Zamora Company, Javier Pijoan, added: “We have continued to make progress in organisational efficiency and agility, consolidating a global operating model that allows us to seize opportunities in a demanding and fast-changing sector.
“The improvement in net profit demonstrates the company’s adaptability and the strength of our long-term strategy.”
The company said it strengthened its premium positioning and growth strategy in key categories and markets during the year.
On the wine side, it acquired Bodegas Godeval, while for spirits, Zamora Company became the exclusive distributor of Tito’s vodka in Spain, Andorra, and Gibraltar.
Spirits made up 61% of the company’s total sales in 2025. Its flagship brand Licor 43 accounted for 42.5% of the total revenue.
Behind Licor 43, Ramón Bilbao wine (29.6%), Mar de Frades wine (6.9%), Villa Massa limoncello (5.5%) and Martin Miller’s Gin (4.3%) were its biggest-selling brands.
Market-wise, Zamora Company listed the US, Germany, the Netherlands, Mexico, and Brazil as its biggest revenue generators, behind its home base in Spain.
International business made up 54.4% of sales against 45.6% from its domestic market.
Zamora Company’s activity for Licor 43 over the past year saw the debut of a Spritz ready-to-drink (RTD) product, a caramel cookie-flavoured liqueur, and a launch in India.
The company also has a sustainability commitment in line with the Sustainable Development Goals outlined in the United Nations’ 2030 agenda. It obtained a Silver certification from global sustainability assessment platform EcoVadis in September.
