Licor 43 owner Zamora Company reported a 6.3% increase in turnover in 2019, but expects a 23% drop in sales for 2020 because of the Covid-19 pandemic.
Last year, the Spanish drinks group says turnover reached €208 million (US$246m), up from €196m (US$231) in 2018. International markets accounted for 44.8% of total revenue in 2019, compared to 43.5% the previous year.
Spirits sales were most buoyant in Germany (up 25%), Mexico (up 19%), the Netherlands (up 18%) and the US (up 11%). Spirits accounted for 58.8% of the Zamora’s sales in 2019.
Zamora Company, whose portfolio also includes Martin Miller’s Gin and Villa Massa limoncello, experienced year-on-year growth internationally from 2014 to 2019.
Emilio Restoy, managing director at Zamora Company, said: “The 2019 data reaffirms a line of work that we have adhered to for a long time. Our mantra is the growth and internationalisation of our business year after year.
“We have defined the foundations of what we want Zamora Company to be in the next 10 years, shoring up our future legacy, and the results reflect this policy.
“Furthermore, we are aware that the immediate future is uncertain. As a result, we must be as best prepared as we can to face any situation that may arise, adapting to the demands of each moment and able to anticipate and respond quickly to any unforeseen circumstances.”
Looking at the 2020 data, Zamora Company expects a 20% decrease in volume and a 17% fall in value. Combining volume and value sales, the group expects an overall downturn of 23% for the year.
“If we look at the situation in terms of each market, it is North America that we forecast will be most affected this year with a decrease of 41% in volume and 36% in value in comparison with last year,” Restoy said.
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Author: Melita Kiely