Latest news with #BrewDog
Yahoo
3 days ago
- Business
- Yahoo
Brewdog IPO ‘not on radar for now, says CEO'
BrewDog is reportedly not making steps towards launching an IPO at the moment, according to its CEO. In a report from The Times, BrewDog's chief James Taylor said an Initial Public Offering (IPO) was "not on the agenda at the moment', as the company announced a return to profitability for the first time since 2021. The company, which confirmed Taylor's comments to Just Drinks, said that Taylor remained "focused on strategy and delivery". BrewDog's former boss and co-founder James Watt had reportedly been considering an IPO for years, but detailed plans on the flotation have been few and far between. In 2022, Watt announced plans to donate 20% of shares in the Scottish brewer, but noted the shares were unable to be traded, given the firm's plan to launch an IPO had been delayed due to 'market uncertainty'. For the period ended 31 December 2024, the Elvis Juice brewer booked adjusted EBITDA of £7.5m, a 400% hike on its £2.5m loss in 2023. 2024 gross revenue however was relatively flat, declining 2.4% on the year prior to £357m. Net revenue reached £280m. Speaking on the results, CEO James Taylor said: '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. 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%." The Times also reported that Taylor said the company would see a pre-tax loss in 2024. BrewDog did not disclose pre-tax loss figures for the year but confirmed to Just Drinks that there was no dividend for 2024. James Taylor was promoted from CFO to CEO in March, replacing James Arrow who stepped down from the company after less than a year in the position. At the time, the Black Heart brand owner said Taylor would bring 'a wealth of financial and strategic expertise' to the role, having managed its financial operations at a point 'of significant transformation, including the return of the business to profitability in 2024'. Prior to holding the CFO role at BrewDog, Taylor also held senior leadership positions at childcare company Mayborn Group. The appointment, BrewDog said represents 'a seamless transition' as it focuses on 'profitability, global bar expansion and innovation in the beer market'. "Brewdog IPO 'not on radar for now, says CEO'" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Scotsman
3 days ago
- Business
- Scotsman
‘Never stand still' - BrewDog's new boss serves up growth plans as profits rebound
Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... BrewDog has hailed its largest ever share of the UK beer market and vowed to continue innovating and expanding after a 'transformative year' which saw the Scottish craft beer maker return to the black. Chief executive James Taylor, speaking just three months into the role, said the business would 'never stand still' and insisted it was 'going in the right direction' as he outlined a growth strategy that will focus on further bar openings and new product launches. Advertisement Hide Ad Advertisement Hide Ad The full-year results showed a return to profitability in 2024, with adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) of £7.5 million. That followed last autumn's news that the Aberdeenshire brewer had moved to a positive underlying profit position in the first half of 2024. BrewDog chief executive James Taylor was speaking just three months or so into his new role. Underlying trading losses on the Ebitda measure had already been slashed from £12.8m in 2022 to £2.5m in 2023. Ellon-headquartered BrewDog, which was founded in 2007 by James Watt and Martin Dickie, also suffered a hefty pre-tax loss of £59m in 2023, driven by one off impairment costs related to historic acquisitions and restructuring. 'No consumer goods business in the wider sense can last on that level of losses, no matter how much it is growing revenues or how exciting the brand is,' said Taylor. 'We have made sensible cost decisions without affecting the drive for quality and innovation. Advertisement Hide Ad Advertisement Hide Ad 'We are not changing the DNA of this brand. What we are doing is reinvigorating it,' he added. 'This is a good opportunity to reset and refresh this business but quality will remain at the heart of what we do. We are also a Scottish business and I am hugely proud of it.' BrewDog has grown its global presence with bars in major tourist destinations such as Las Vegas, above. The Englishman - formerly BrewDog's chief financial officer - was promoted to chief executive in March after James Arrow stepped down for 'personal reasons', having been in the top post for less than a year. Arrow had taken over from controversial co-founder James Watt, who stepped aside to devote more time to his other business interests and in the wake of 2021 allegations of a 'toxic culture' at the company, which began as a brewery in Fraserburgh before its rapid expansion, aided by a string of publicity stunts. Taylor described the 2021 furore, which saw Watt admit he was 'not always the best people manager' as 'old news' now. Advertisement Hide Ad Advertisement Hide Ad 'We have moved on significantly as a business.' the new CEO said. 'We've relaunched our charter and our mission and our values. 'The full employee journey that we take our staff on is absolutely central to us. As a leadership team we listen everyday to our people.' The business has been looking to turnaround its financial fortunes as it continues to grow its footprint both at home and overseas. A global bar expansion has seen the brand increase its footprint across Europe, the US and Australia, while entering new markets, such as Thailand. It has also grown its presence at major transport hubs including a number of airports and railway stations such as Edinburgh Waverley. Advertisement Hide Ad Advertisement Hide Ad The underlying profitability in 2024 came despite top-line revenue growth easing. Gross revenues topped £357m, with the net figure coming in at £280m - driven by a 'market leading' performance in beer and a resilient performance in the bar division. The brewer achieved its highest ever share of the UK beer market last year - at just under 4.6 per cent - selling the equivalent of 4.5 cans (330ml) of beer every second in UK supermarkets. It was also named by Tesco as supplier of the year in 2024. Meanwhile, the firm commissioned a new brewing facility, increasing site brewing capacity to 2.5 million hectolitres, and implemented a new hopping system, enabling a productivity improvement of £1.4m. Session IPA Wingman is now established as a top five craft beer brand in the UK, with flagship Punk IPA - which the venture launched with 18 years ago - and Hazy Jane remaining the number one and number two craft beer brands, with 17.3 per cent and 10.1 per cent market share respectively, according to industry data. Advertisement Hide Ad Advertisement Hide Ad During 2024, BrewDog opened nine new franchise venues, including Bangkok, Perth, Denver and Rotterdam, and openings at transport hubs Columbus Airport, Edinburgh Waverley, Belfast Grand Central and a new pub at London Waterloo - the Waterloo Arms. More than six million pints were sold in its venues worldwide last year. The group employs some 2,400 people worldwide, and has grown its workforce by 50 per cent since 2020. It operates breweries in Ellon, Germany, Australia and the US and exports its products to more than 60 countries. Peak beer Taylor does not feel that the market has reached peak craft beer, arguing that there is room for further innovation. 'The market is different to what it was three years ago and it will be different in the next three years,' he said. 'We will be at the forefront of that innovation in the craft market, in the alcohol-free market, in the lager market and in the stout market. We want to broaden our base and our appeal across all categories.' Advertisement Hide Ad Advertisement Hide Ad He added: 'Clearly this business is about growing revenue and about being exciting and using fresh ways of talking to the consumer, and investing in our people and our sites. That will never go away. But financial responsibility is also absolutely at the heart of things. We can do both.' The BrewDog boss also acknowledged the cost pressures facing the sector, including higher duties, rates and taxes.
Business News Wales
5 days ago
- Business
- Business News Wales
Dill Wins at the 2025 Wales Startup Awards
Swansea-based AI firm Dill has been named the overall winner at the 2025 Wales StartUp Awards. Dill is a smart labelling platform that enables businesses to instantly create and print compliant labels without the usual manual effort. Designed for use across multiple locations, it replaces time-consuming formatting tasks like barcodes, QR codes, ingredients, and expiry dates with automated label generation based on real-time data. Its founder Alex Coldea was delighted to win the award and said it was the start of something special for the business. Alex said: 'Winning the 2025 Wales StartUp of the Year is a huge moment for the team and a reflection of the impact Dill is already making across the food and retail industries. We started this business because we were frustrated by how slow and unnecessarily complicated labeling had become, a process so many people just accepted as 'normal' when we knew it could be done better. What began as a small, focused solution quickly revealed a much bigger opportunity, and that meant letting go of the original idea and starting from scratch. 'That pivot was tough, but it changed everything. We rebuilt Dill from the ground up to be simple, fast, and user‑centric. Today, our AI‑powered labeling platform is making labeling seamless for brands like BrewDog, Atis, Busaba, Nisa Local, The Secret Group and more, across hundreds of sites, from BP, Shell, Esso, and Jet service stations, to Saracens Stadium and Swansea Council. From food‑to‑go and traceability to stock rotation and barcodes, Dill handles it all. 'With our recent launch in the United States and growing deployments across the UK and EMEA with Brother, our hardware partner, we're building Dill into an AI‑driven infrastructure layer that makes labeling invisible, a seamless service that operates across any site or device. We started with food and beverage labeling, but the vision is much larger: to redefine how every industry approaches labeling. This is just the beginning, and we're excited for where this journey takes us next.' Supported by a wide range of partners, including Airwallex, Big Ideas Wales, Bodlondeb, Business Wales, Cardiff Life, Coffi Lab, Join Talent, M-Sparc, Mentera, Town Square, and V-Rum, the UK StartUp Awards were established to highlight the success of start-ups across ten UK nations and regions and to celebrate the achievements of entrepreneurs in all sectors of the economy. Over 1,500 entries were received in 2025 and 200 judges from the UK entrepreneurial ecosystem took part in the judging process. According to Professor Dylan Jones-Evans OBE, creator of the UK StartUp Awards, this surge in start-up ambition reflects a new generation of entrepreneurs who are not only identifying opportunities but are also building innovative, resilient businesses that are shaping the future of the regional economy. He said: 'The Wales Start-Up Awards have demonstrated, once again, that Welsh entrepreneurs are reshaping the economic landscape, turning bold ideas into thriving ventures and ambition into meaningful impact. That's why we created the StartUp Awards, to celebrate the individuals who are building something from nothing and making a real difference in their communities. Across the country, from rural towns to city centres, founders of new businesses are developing everything from cutting-edge digital solutions to sustainable food brands and green energy businesses that are all grounded in a deep sense of place, purpose, and national pride.' The 32 regional winners from Wales will now progress to the UK StartUp Awards final, taking place at Ideas Fest on September 11th, dubbed the 'Glastonbury for Entrepreneurs', along with the winners from nine other nations and regions. The winners at the 2025 Wales StartUp awards are: Wales StartUp of the Year – Dill AI StartUp of the Year – Dill Business to Business StartUp of the Year – Pilates Class UK Business, Consulting & Management StartUp of the Year – Quest Cleantech StartUp of the Year – Nellie Technologies Construction & Building Services StartUp of the Year – Alyn Bowen Ltd Consumer Products StartUp of the Year – Môr (Lucy McCarthy-Christofides) Consumer Services Start Up of the Year – Norah Rose (Sian Howarth) Creative StartUp of the Year – Creadigol Design Digital StartUp of the Year – Tool Archive Education & Training StartUp of the Year – Romodels Equity-Backed StartUp of the Year – Darogan Fashion & Beauty StartUp of the Year – Chair Freelance Food & Drink StartUp of the Year – Kiwis Bowls Global StartUp of the Year – Pelly Green StartUp of the Year – The Full EV Health & Wellbeing StartUp of the Year – Hospitality, Tourism & Events StartUp of the Year – North Wales Days Out & Events Innovative StartUp of the Year – ValArt Marketing, Advertising & PR StartUp of the Year – The Cusp Media & Entertainment StartUp of the Year – Copperhouse Films Professional Services StartUp of the Year – Talent Tent Retail & E-Commerce StartUp of the Year – The Little Blazer Company® Rising Star Award – Baldilocks Rural StartUp of the Year – LanoTech Social Enterprise StartUp of the Year – NeuroBuds StartUp For Good Award – Young Entrepreneur Start Ups (Michelle Foulia) Young Entrepreneur of the Year – Bowla – A Bowl With A Roll Cardiff StartUp of the Year – Pharma Footpath North Wales StartUp of the Year – ecodetect Judges Choice – Driverly, Grade Stream, AilArian
The Sun
19-06-2025
- Business
- The Sun
Craft beer prices have rocketed since start of year amid rising costs and tax hikes
CRAFT beer prices have rocketed since the start of the year — giving drinkers a major hangover. Prices have jumped by up to 12.5 per cent since January, The Morning Advertiser Pint Price Survey has revealed. The Campaign for Real Ale (CAMRA) said many landlords are having to charge more just to stay open in the face of rising raw material costs and tax rises. The survey said the biggest price rise was for BrewDog Punk IPA, which was £5.64 a pint in January but is now £6.34. Camden Hells has also climbed to £6.34, up 10.8 per cent from £5.72. Others have seen more modest increases, just 1.7 per cent for Camden Pale Ale, which has gone from £5.59 to £5.69. The average price of a draught pint across all types has crept up to £5.17, compared with £5.08 six months ago. CAMRA chairman Ash Corbett-Collins said: 'It's incredibly frustrating for consumers to see the price of a pint rise yet again. 'It's really important that we talk about the reasons that the price of beer is rising — it's hikes in the price of raw materials for brewers, energy costs staying high, pubs being squeezed by a challenging business rates system and rises in National Insurance contributions. 'Increasing the price of a pint is sometimes the only option for pubs, as not doing so risks closing their doors for ever.' Whitbread, owner of Beefeater and Brewers Fayre, has reported a 16 per cent fall in food and drink sales as it overhauls its restaurants. 1 Pint prices on the rise and Maccies axes beloved item MORRISONS OVER STORM MORRISONS bosses said it had 'bounced back' from a Christmas cyber attack, as it posted stronger sales and profits for the latest quarter. But the UK's fifth-largest supermarket chain warned inflation is driving 'subdued' sentiment among shoppers. The Bradford-based business yesterday revealed group sales grew by 4.2 per cent to £3.9billion for the 13 weeks to April 27 compared with the same 2024 quarter. Morrisons is pushing ahead with a turnaround plan which includes closing cafés along with meat and fish counters. NO BEAUTY BID MIKE Ashley's Frasers Group has pulled out of the bidding process for cosmetic retailer Revolution Beauty. Frasers, which owns Sports Direct, said it 'does not intend to make an offer'. The make-up firm had said Frasers was 'one of a number of parties conducting due diligence' after it put itself up for sale last month. But the withdrawal raises questions over the future of the troubled beauty brand.
Scottish Sun
19-06-2025
- Business
- Scottish Sun
Price of popular pints rises AGAIN as some big brands hit £6 for first time ever – how much will YOU pay?
Find out which brands are the cheapest and the most expensive PRICEY PINT Price of popular pints rises AGAIN as some big brands hit £6 for first time ever – how much will YOU pay? Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) PINTS of some of the UK's best-loved craft beers have soared in price over the last few months, new data shows. Drinkers may have noticed the cost of Camden Hells, BrewDog IPA and Camden Pale Ale rising. Sign up for Scottish Sun newsletter Sign up 2 BrewDog's popular Punk IPA is among the beers that have risen in price Credit: PA:Press Association 2 The price of a Camden Hells is also up by a huge 10.8% on average Credit: Camden Hells The average cost of a BrewDog IPA has increased by a whopping 12.5% since the start of the year, according to analysis by The Morning Advertiser. At the start of the year, a pint would have set you back an average of £5.64. Now it's increased to beyond the £6 mark, hitting £6.34. Camden Hells is up by a huge 10.8% on average, rising from £5.72 at the start of the year to £6.34 now. Read more on beer FOOD AWAKENING Astonishing Club World Cup prices revealed with beer costing £12.30 a CAN That makes Camden Hells and BrewDog the most expensive pints in the UK now. Camden Pale Ales have also increased in price, but by a more subtle 1.7%. They cost £5.69 on average, up from £5.59 in January. There is one brand that has actually decreased in price, though. Fury as cost of 12-pack of beer set to soar by £1 thanks to sinister new tax brought in by Labour Beavertown's Neck Oil had cost an average of £6.36 but that's gone down to £6.24. Average price of a pint rises The Morning Advertiser previously found the average price of a pint had risen from £5.08 at the start of the year to £5.17 now. The trade magazine regularly examines the average cost of a pint across London, the Midlands, the North East, the North West, the South East, the South West, Scotland, and Wales. Beer prices have been rising sharply thanks to higher alcohol taxes, soaring utility bills and increased staffing costs. It's probably no surprise that the priciest pints are found in London, where the average pub charges £6.10. The latest research found pints of Guinness have reached £6.45 and Birra Moretti is £7.17 in the capital. If you're looking for the cheapest pint in the UK, the Midlands is the place to go. There an average pint will set you back £4.68. Tennent's lager is the most affordable option there at £3.50, followed by Carlsberg at £3.72. Foster's and Greene King IPA are a little more expensive - but still very affordable - at £3.80 and £3.85 respectively. But even in the Midlands, pint prices increased by 5.15% between January and April. They rose by 3.87% in Wales and 2.54% in the South East. During the same period, prices in London actually fell by 1.22%. Which brands are the cheapest and most expensive? The survey also looked at the average prices of over 30 beer brands. As we mentioned, Camden Hells and BrewDog Punk IPA are the most expensive pints at £6.34. But Beavertown Neck Oil follows closely behind at £6.24. A pint of Peroni costs an average of £6.12. Only slightly cheaper is Asahi at £6.11. On the more affordable end of the scale, Tennent's and Carlsberg emerged as the cheapest options. Drinkers will pay an average of £4.23 a pint for these. Greene King IPA, Budweiser, and Foster's, come with an average price of £4.36, £4.38, and £4.47 respectively.
