Spain: Spanish brewer Damm sees profit rise 35% in 2024
Spanish brewery Damm made more than €2 billion in turnover and saw profit rise 35% during 2024, db reports.
According to figures from the 2024 Damm annual report, the business has exceeded €2 billion for the second consecutive year running with an EBITDA of €321 million, marking a 7% increase year-on-year.
The data shows how Damm also achieved a net profit of €175 million, which means it made 35% more than the previous year.
The company has revealed that its success is down to the fact that it “continues to consolidate its sustainable growth model, supported by international expansion, technological innovation, a commitment to the environmental and strategic alignments”.
Damm has also strengthened its leadership position in the drinks sector with its recent alliance with Nestlé to produce, market, and distribute Nestea in Spain, Andorra, Gibraltar, and Portugal. Among its achievements, Damm revealed how it has invested €8.9 million into “research and development” and “new product design” as well as “technological innovation” and “digital transformation”.
Damm has also admitted that it has spent €6.9 million on meeting its eco-goals in an effort to become even more sustainable and has used the money to fund environmental initiatives and activities.
Speaking about the figures, Damm executive chairman Demetrio Carceller Arce said: “The 2024 results highlight the strength of Damm’s business model for long-term growth. It also demonstrates the company’s success in increasing profitability at a challenging time of persistent inflation, less consumer spending and a high level of global uncertainty.”
In the run up to its 150th anniversary in 2026, Damm is present in 130 countries globally with its brands being available in more 87 markets with own brands such as Estrella Damm.
More than 200 million bottles are sold outside Spain annually with the UK alone pouring the equivalent of more than 150 pints of Estrella Damm every minute. With the British market being a growing market for the business, not only with Estrella Damm but brands in its portfolio, Damm has noted how it is “proud to be investing in brewing locally in the UK”.
Indeed, the company added in a statement that “this is a move that aligns closely with the long-standing commitment to sustainability to reduce transport-related emissions and lower its carbon footprint”.
Damm recently revealed how it is evoking the seventies in a new summer campaign to remind consumers about the things that matter. The campaign, named Summer ‘78, will run until 4 July 2025 and will focus on beach days, barbecues, sunset drinks and getting together.
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