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Damm holds its 2023 General Shareholders' Meeting

Demetrio Carceller Arce_JGA Damm 2023

Demetrio Carceller Arce, executive chairman of Damm, appears optimistic regarding the 2023 results, despite the impact of underlying inflation and the high level of strain currently suffered by the supply chain

Damm held its General Shareholders' Meeting today at Estrella Damm Old Brewery, where the results from the 2022 financial year were approved. Damm invoiced 1,876 million euro, which means a 26% increase compared to the previous year and generated a net profit of 101.5 million Euro. The continued growth in sales across all channels, and the strong drive of the company's business internationally, have allowed Damm to reach a new record regarding invoicing and creating new jobs. The company closed 2022 with a team comprised of 5,577 individuals, 9.35% larger than the previous year.

Damm’s Executive Chairman, Demetrio Carceller Arce expressed his satisfaction with the results from 2022, a year in which the sector consolidated its recovery following two years greatly affected by the pandemic, but that were also affected by the significant strain on the supply chain. "Over the last year, we have had no choice but to work harder in order to manage the overall inflationary tendency and its consequences on consumption and monetary policy. Fortunately, 2022 also brought with it good news, such as the positive data obtained by the tourism and catering sector, which allowed us to face the current and complex situation.", said Carceller Arce.

Damm’s Executive Chairman was optimistic with respect to the future and highlighted that, despite the difficulties the global economy continues to undergo, 2023 started off in a very positive manner for the company. The robustness and capacity for growth demonstrated by the hospitality sector during the first few months of the year, and the positive outlook of the tourism sector for the summer season, have us believe that 2023 will be a year of growth for Damm", said Carceller Arce.

Similarly, Damm's Executive Chairman of Damm reexamined the evolution of the business in 2022, a year in which the company became the brewery group with the fastest growing production market share, increasing said share by close to one percentage point, for the shareholders. Regarding sales by channel, the HORECA channel positioned itself during the last financial year with numbers that resembled pre-pandemic levels. Likewise, home consumption remained stable and, despite not reaching HORECA channel volumes, sales in the food channel continue to be greater than those registered before 2020.

During the act, the new makeup of the Board of Directors, which went from 8 to 7 members, was approved. Rudolf Louis Schweizer joins as representative of German company August Oetker KG, in replacement of Dr. h. c. August Oetker and Dr. Ernst F. Schröeder.

Damm maintains its commitment to keeping shareholder profits stable. During the General Shareholder's Meeting, payment of dividends at the same levels as the previous year was approved.

Advances in its internationalization and supply chain optimization strategy

Over the last 10 years, Damm has launched an ambitious internationalization strategy that has made it possible for Damm's activities in foreign markets to account for 30% of its overall activity. Its brands are present in over 130 countries. In order to continue to grow abroad and make the company's international operations more efficient and profitable, Damm concluded the acquisition of British Eagle Brewery factory, located in the town of Bedford, in November 2022. This facility, the second brewery acquired by Damm overseas, reinforces Damm's presence in the United Kingdom, one of the company's main foreign markets, where the Damm beer portfolio continues to increase its market share year over year.

The addition of this new facility overseas is in line with Damm's purpose of maximizing supply chain efficiency. As a result of Damm's commitment to the environment and to reducing its carbon footprint, the company has launched several work lines with the purpose of optimizing every phase of the supply chain, bearing in mind the acquisition of raw materials, the manufacturing of products and distribution. In this sense, Damm encourages the use of nearby raw materials and promotes the purchase of raw materials from local suppliers that are close to its factories. Regarding manufacture, the company has launched several initiatives aimed at improving process efficiency. An example of this are the investments made to achieve energy self-sufficiency at its factories. Damm currently generates 60% of the electric energy it uses in its activities and is the brewery with the greatest number of photovoltaic panels in the Iberian Peninsula.

During a domestic and international growth phase, one of the main challenges faced by the company is attracting and developing the best talent internally. Damm has launched several initiatives for this purpose. As a result, in 2022 it increased its staff by close to 500 people, of which 55% are younger than 30.