Zamora turnover down 17% in 2020

Zamora Company has announced a -17.2% drop in turnover in 2020 compared to the previous year.

The Spanish company owns brands such as Licor 43, Ramón Bilbao, Martin Miller´s Gin and Mar de Frades and ended 2020 with a total turnover of €172.2m.

“We have been able to curb the business loss to only -3.8% of the EBITDA, which clearly shows the success of our management,” said Emilio Restoy, general manager of Zamora Company.

“We have managed to achieve these savings by cutting down operating-related expenses and/or reducing structures.”

According to a statement released by Zamora Company, its expansion in the international market, which accounts for 47.5% of its turnover, is a major factor that has given resilience against  the effects of Covid-19.

Meanwhile the company’s flagship, Licor 43, has experienced a 21% rise in off-trade sales in the US, 12% in the Netherlands and 3% in Germany.

In the UK the company’s super premium gin, Martin Miller´s Gin, saw its sales grow by 19.4%, while in Germany the sales of Ramón Bilbao soared 44% in the off-trade.

“The trend varies depending on the specific market. In Spain, the food channel has grown dramatically, but the recovery we began to observe during the first quarter of 2021 is still accompanied by bad news,” added Restoy.

“It’s true that daytime restaurants and bars look as if they may rally in the medium term, but the nighttime bars and clubs continue to suffer greatly.”