Firstly, define what's excessive movement ? Is it in comparison with your other Europa's or cars with modern brakes ?
It's a long time since I had rear drums and when I first got the car in the 80s I considered the brakes as good, but as time goes on and I compared with more modern cars I started to think they weren't so hot. Some cars (Audi TT for example) had brakes like a light switch, touch the pedal and they're on whereas the Europa had more travel. Technically it's ok and no different from how it's been since new, but mentally I had a problem switching cars and thinking the brakes weren't working.
While still on drums I changed to a larger m/cyl, removed the servo and eventually went dual circuit. I tried the handbrake trick to try and improve bleeding the rear drums but it wasn't until I went discs all round that the brakes started to feel like a modern car. Even then I wasn't completely sold and tried residual pressure valves in the circuit. If you think your excess travel problem lies with the drums then that's one thing you could try to reduce the push back from the shoes, especially if you still have the lower mounted brake reservoir and not the (higher) remote unit on UK cars.
Things I also tried - leaving the brake pedal depressed overnight based on the theory that the pressure would absorb residual air in the fluid and the pedal improve. I did that, bled the brakes the next day and convinced myself it was better. Now I'm not so sure I was right, but it's easy enough to try for yourself.
I eventually got all geeky, calculated the travel I could expect and grovelled in the footwell to measure it. IIRC it was around 3.5-4cm, not a lot really and that's where it is now. One theory which I think improved my travel was the caliper piston retraction. Remember I'm all disc so this depends on disc run out and how much the seals move between on/off. I felt this was the only reason between calculation and reality so I tried to reduce it.
These days before bleeding I remove the pads, push the pistons out a touch and then force the pads back in which I think reduces the mount of flex in the caliper seals. The pads don't appear to drag any more but I did reduce travel and reality is very close to theory now.
Brian