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Zamora Company, with a portfolio that includes significant brands such as Licor 43, Ramón Bilbao, Mar de Frades or Martin Miller’s Gin, has registered a new sales record in 2023, reaching 268 million euros. This represents an increase of 1.1% over the previous year and 21.5% over 2021, marking the best performance in the company’s 77-year history, an official statement reports.
Despite the growth in sales, the sector has faced significant challenges such as inflation, volatility in raw material prices and a slowing global economy. These factors have affected EBITDA, which declined by 1.9% in 2023 to €45.3 million. However, recurring EBITDA has shown growth of 9% since 2021.
In terms of its financial position, Zamora Company’s net debt at December 31 was €52 million, with a net debt/EBITDA ratio of 1.15, reflecting very low leverage. The trend of reduction of this ratio has been maintained in recent years.
The value of exports
Zamora Company’s internationalization strategy has proliferated with a two percentage point growth in global sales, reaching 54% compared to 52% the previous year. Sales in Europe and emerging markets accounted for 23%, while the Americas and the United States contributed 16% and 15%, respectively. The Iberia market remains very strong, with 46% of sales in 2023.
‘We remain very strongly committed to the main international markets and committed to the company’s growth and long-term sustainability, despite the difficulties of the last year’, said Javier Pijoan. The company’s CEO also wanted to highlight the brand acquisitions in recent years, which offer ‘ample room for development’.
Licor 43 & Ramón Bilbao: sales leaders
In 2023, Zamora Company invested significantly in its personnel as part of its strategy for the coming years to improve the employment situation of its team. As for sales breakdown, 60% comes from spirits and 40% from wines. Licor 43 leads sales with 41% of revenues, followed by Ramón Bilbao with 27%, Mar de Frades with 6%, and both Villa Massa and Martin Miller’s Gin with 5% each.
The main international markets for spirits were the United States, Mexico, Brazil, Germany and the Netherlands, while for wines, Spain, Colombia and the United Kingdom were key.