BrewDog reports robust annual figures

Craft beer brand BrewDog has posted robust annual figures, benefitting from new products and increased distribution.

As per recent report, the company’s operating loss narrowed from £6.8 million to £5.5 million in 2021, despite the impact of the pandemic on its retail estate and increased investment.

Gross profit margin grew from 48 percent to 53 percent due to increased scale and operational efficiencies, stated reports, adding that revenues surged up 21 percent to £286m as UK sales and its market share grew despite pandemic-related restrictions in the on-trade.

The performance in the UK was said to be strong in the grocery and impulse channels, with increased points of distribution and improved rate of sale across many of its customers. The group noted that the e-commerce channel also continued to grow as it expanded operations across Europe, added marketplace partners, and launched the beer subscription model, BrewDog & Friends.

BrewDog stated that 2022 had started well, with the first period since the first quarter of 2020 broadly unimpacted by Covid restrictions, albeit with a “challenging” off-trade market. It also stated that recent investments, market share improvements and growth ahead of the market, meant it was well placed to deal with the challenges of the current supply chain pressures facing all businesses.

“2021 was another year of huge progress. Though challenges remained, not least the continued closure of much of our bar estate during the year, we delivered significant growth across the business,” James Watt, CEO of BrewDog said.

“We are investing in our brand, sustainability, our operations, but most importantly, our people. Being the best employer we can be, and offering brilliant careers, is the surest way to support our future growth.”