The food and beverage company Damm closed last year with profits of 101 million euros. It is 16.4% less than in the previous year. The drop in results occurs in “a context of general rise in costs,” the company explained in a statement.
On the other hand, the group chaired by Demetrio Carceller Arce improved income by 26%, up to 1,876 million. In a statement, the company has assured that the figures “confirm the good evolution of the business and that it exceeds the levels prior to the pandemic.”
Last year started with “a return to normality with outstanding growth, especially in the hospitality channel” while “the war in Ukraine led to a general aggravation of tensions in the supply chain and a significant rise in prices energy, raw materials, packaging materials, as well as logistics costs”, specified the group that employs 5,577 people.
The results for the 2022 financial year will be submitted for approval by the company’s Shareholders’ Meeting, which will be held at the Antigua Fábrica Estrella Damm on May 23.
The company wanted to highlight the drive of the international business last year. More than 30% of the beverage business activity is already carried out in the foreign market and in its own production facilities. Damm has informed that the British market is one of the main international markets in which Damm’s beers continue to gain share year after year. The recent acquisition of the Eagle Brewery located in the English town of Bedford has allowed the company to strengthen its presence in one of its main markets abroad.
