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ZAMORA COMPANY GROWS 28% IN 2021 AND REACHES 220 MILLION EUROS IN REVENUES
ZAMORA COMPANY has approved at the General Shareholders' Meeting the consolidated annual accounts for 2021. In the last fiscal year, the company, of Cartagena origin, achieved the highest consolidated sales figure in its history. Gross turnover was 220 million euros, 28% more than in 2020 and 5.8% higher than in 2019. In this way, the Group exceeds the activity recorded in the year prior to the pandemic and boosts the organic growth of its business in all distribution channels and markets.
The company owns Licor 43, Ramón Bilbao and Martin Miller's Gin, among other premium brands. It also closed last year with an EBITDA of 42.7 million euros, 59% more than in the previous year.
For Javier Pijoan, CEO of ZAMORA COMPANY, "the figures reflect excellent results for both brands and markets", adding that "our performance is really positive in a year marked by the impact of the COVID-19 pandemic on the on-trade channel and the global difficulties of the supply chain".
Substantial growth in all markets and distribution channels
Looking at sales by business divisions, the Spirits area accounted for 57% of total sales in 2021 and the Wines area for 43%.
In terms of markets, ZAMORA COMPANY's sales in the domestic market accounted for 50% of the total turnover in the previous year. Its growth in the Food channel was 35% and the Horeca channel recovered a large part of its turnover, approaching 2019 values. The domestic market increased its turnover by 25% compared to 2020.
For its part, the international market accounted for the other 50% of total sales in 2021, with a sales increase of 32% compared to 2020 and 18% compared to 2019.
The main export markets for the Spirits division were Germany, Holland, Mexico, the United States, Brazil and the United Kingdom. As for the Wines division, the most relevant international business is in the United Kingdom, the United States, Germany, Canada and the Netherlands, among others.
The evolution of the Group's consolidated sales in the last five years has represented a compounded increase of 7% in the 2017-2021 period. As Javier Pijoan indicates: “these figures reflect the development of premium wine and spirits brands operating in more than 80 countries and consolidate our position as an international benchmark. We have strengthened our international activity and opened new business opportunities. In addition, in 2021 we have boosted our activity in the food channel and sales through digital platforms”.
Fastest growing brands
The fastest growing brands with respect to 2020 are Licor 43, Ramón Bilbao y Mar de Frades. Specifically, Licor 43 reached an increase of 37% of its net sales in 2021. Ramón Bilbao Wines grew in turnover 22% and Mar de Frades registered an increase of 23%.
ZAMORA COMPANY closed 2021 with three own brands of wine (Ramón Bilbao, Mar de Frades and Cruz de Alba), and seven brand in spirits (Licor 43, Martin Miller’s Gin, Lolea, Yellow Rose, Zoco, El Afilador and Villa Massa). Moreover, the company distributes Ron Matusalem y Champagne Pommery. Since 2020 the company markets in USA Don Papa Rum and this year has begun to distribute, also in the north american market, Mezcal San Cosme.
In 2021, the company added new references to its global portfolio. Among them, the following stand out, Límite Norte and Límite Sur of Ramón Bilbao, RTD Cocktail 43 Fresco, RTD Carajillo 43 in Mexico. These releases respond to the innovation strategy followed by the company to respond to the new demands and trends in the global consumption of wines and spirits.
In fact, among the milestones reached by all ZAMORA COMPANY brands, is the achievement of important awards of excellence. It is the case of Ramón Bilbao, that recently has reaffirmed its inclusion, for the fourth consecutive year, in the list of the 50 most admired wine brands in the world (Drinks International). The Group's spirits brands also received important awards for excellence last year, with dozens of prizes in the most prestigious international competitions such as the SIP Awards and the San Francisco World Spirits Competition.
Sustainability, innovation and quality
The Cartagena-based company is developing an ambitious Conscious Company Plan, designed for the three-year period 2020-2022. This involves an investment of more than 7 million euros in environmental protection, employee empowerment and the promotion of relations with consumers and society during this period. All this with the levers of transparency, good governance and conscious leadership as transversal axes.
"We are committed to a sustainable business model, with brands aware of the need to protect the climate and biodiversity. We have developed organic production crops and sustainable viticulture programs in addition to promoting wine tourism experiences that respect the local community and the environment", says the president of Zamora Company, José María de Santiago, adding that "the good results of the last year contribute to building the future legacy of a family company committed to its employees, customers, local suppliers and society as a whole".
ZAMORA COMPANY is working on the definition of the company's next Strategic Plan 2023-2025, which will include the main objectives for the next three years. The company will also continue to respond to current consumer trends through a portfolio of premium brands that are benchmarks in innovation and quality.