BrewDog has posted a return to profitability in 2024, despite revenues remaining flat year on year at £280m.
The Scottish brewing company said adjusted EBITDA in the year ended 31 December 2024 stood at £7.5m, up from a loss of £2.5m in 2023. Net revenues, meanwhile, were flat at £280m.
BrewDog posted a huge increase in losses before tax last year, after restructuring and one-off impairment costs hit its bottom line.
The brewer did not provide a profit before tax figure in the version of its financial results released on Wednesday (25 June). The Grocer understands, however, that this figure remains negative.
“2024 was a transformative year for BrewDog, and I am pleased to report the company has returned to profitability for the first time in several years,” said CEO James Taylor. “After a challenging 2023, we streamlined operations and improved our efficiency across our global footprint, which had a tangible impact on our bottom line.
“While our topline revenue growth slowed, we remain at historic highs demonstrating the continued appeal of our brilliant beers, the power of our brand, and the strong appetite for quality craft beer – especially in the UK where we achieved our highest-ever share of the beer market and in Australia, which saw revenue growth of 34%.”
In 2024, BrewDog opened nine new bars, including franchise openings in Bangkok, Perth and Rotterdam, alongside new venues at Columbus Airport and Edinburgh Waverley railway station. Over six million pints and nearly eight million wings were sold in BrewDog venues worldwide in 2024, the supplier said.
It also signed partnerships with the Marylebone Cricket Club at Lord’s and won the new tender for the London Stadium and West Ham Football Club.
“We remain focused delivering sustainable profitable growth, so that we can continue to invest in our beers, our bars and most importantly our people,” Taylor added.
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