10 Minutes News for Hoteliers 10 Minutes News for Hoteliers
  • Top News
  • Posts
    • CSR and Sustainability
    • Events
    • Hotel Openings
    • Hotel Operations
    • Human Resources
    • Innovation
    • Market Trends
    • Marketing
    • Mergers & Acquisitions
    • Regulatory and Legal Affairs
    • Revenue Management
  • 🎙️ Podcast
  • 👉 Sign-up
  • 🌎 Languages
    • 🇫🇷 French
    • 🇩🇪 German
    • 🇮🇹 Italian
    • 🇪🇸 Spain
  • 📰 Columns
  • About us
10 Minutes News for Hoteliers 10 Minutes News for Hoteliers
  • Top News
  • Posts
    • CSR and Sustainability
    • Events
    • Hotel Openings
    • Hotel Operations
    • Human Resources
    • Innovation
    • Market Trends
    • Marketing
    • Mergers & Acquisitions
    • Regulatory and Legal Affairs
    • Revenue Management
  • 🎙️ Podcast
  • 👉 Sign-up
  • 🌎 Languages
    • 🇫🇷 French
    • 🇩🇪 German
    • 🇮🇹 Italian
    • 🇪🇸 Spain
  • 📰 Columns
  • About us

BrewDog promises return to profit as losses widen

  • James McAllister
  • 17 October 2024
  • 2 minute read
Total
0
Shares
0
0
0

This article was written by Restaurant Online Magazine. Click here to read the original article

image

In its financial report for the year ended 31 December 2023, BrewDog reported a pre-tax loss of £59.2m compared to a loss of £30.5m the year before.

The group attributed the widening loss to ‘one off impairment costs related to historic acquisitions and restructuring’.

Revenue rose from £321.2m to £354.6m over the period, while underlying trading EBITDA losses reduced from £12.8m to £2.5m.

“We are pleased to report our trading losses reduced significantly in 2023, reflecting the significant changes we have made to address inefficiencies in the way we operate,” says James Arrow, CEO of BrewDog.

“This will continue to be a priority as our business continues to evolve and return to sustainable, profitable growth in 2024.”

Arrow took over as CEO earlier this year after co-founder James Watt stepped down from the role​​.

Posting on LinkedIn​​​, Watt said BrewDog ‘came very close to returning to profitability’ in 2023.

Describing ongoing losses as ‘frustrating’, he added: “We’re right on the edge of a return to our strong track record of positive EBITDA trading.”

Going into 2024, BrewDog says it has made a ‘significant improvement in profitability’ with the business returning to EBITDA positive trading in the first half of the year (H1).

Hostaway Report Reveals STR Property Managers Care More About Growth, Extreme Weather than Tech
Trending
Hostaway Report Reveals STR Property Managers Care More About Growth, Extreme Weather than Tech

Revenue for H1 2024 was £137.5m.

“The progress made in 2023, and the first half of 2024 demonstrates the appeal of our brilliant beers, the power of our brand, and the strong appetite for quality craft beer in the UK and around the world,” Arrow continues.

“Our focus remains on delivering sustainable profitable growth, so that we can continue to invest in our beers, our bars and most importantly our people.”

He adds that the group’s global bar expansion plan is continuing as planned.

It has increased its footprint across Europe, the US and Australia, entered new markets including Thailand for the first time, and continued to grow its presence in major transport hubs.

BrewDog’s global bars sales increased by 12.3% in 2023.

“Together with our local partners we are committed to spreading our passion for quality beer around the globe,” says Arrow.

Please click here to access the full original article.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
You should like too
View Post
  • Market Trends

Canada hotels report highest performance growth of 2025

  • Automatic
  • 27 June 2025
View Post
  • Market Trends

Hotel activity: Paris saves the day, but for how long?

  • Automatic
  • 27 June 2025
View Post
  • Market Trends

Marketing That Moves: Why Storytelling is Hospitality’s Hidden Revenue Engine

  • Automatic
  • 27 June 2025
View Post
  • Market Trends

The Sustainable Restaurant Association Panel Discussion: Small Changes, Big Impact: Driving Sustainability Through Hospitality

  • YiTyng.Sin@informa.com
  • 26 June 2025
View Post
  • Market Trends

Unpacking the $15 trillion opportunity in leisure travel

  • Automatic
  • 26 June 2025
View Post
  • Market Trends

May 2025: the French hotel industry continues to face headwinds

  • m.welsch
  • 25 June 2025
View Post
  • Market Trends

How corporate hotel programs are adapting to a new era

  • Automatic
  • 25 June 2025
View Post
  • Market Trends

U.S. hotel occupancy declines for third month

  • Automatic
  • 25 June 2025
Sponsored Posts
  • Influence Society Publishes Q2 Edition of Societies Quarterly for Visionary Hoteliers

    View Post
  • Case Study: Refinery Hotel Redefines Revenue Management with LodgIQ

    View Post
  • Day & Night: The Bold Rebranding Powering Shiji’s Presence in Global Hospitality Tech

    View Post
Last Posts
  • City-themed wooden gift sets
    • 30 June 2025
  • 10 Metrics That Define a Successful Hotel Revenue Management Strategy
    • 30 June 2025
  • From traditional to tech: Thai resort’s online transformation with STAAH
    • 30 June 2025
  • Helsinki’s newest premium Airport hotel takes guestroom entertainment and business capabilities to new heights with 800 Philips Professional Displays
    • 29 June 2025
  • 5 Ways a Hotel Booking Platform Can Boost Direct Bookings
    • 29 June 2025
Sponsors
  • Influence Society Publishes Q2 Edition of Societies Quarterly for Visionary Hoteliers
  • Case Study: Refinery Hotel Redefines Revenue Management with LodgIQ
  • Day & Night: The Bold Rebranding Powering Shiji’s Presence in Global Hospitality Tech
Contact informations

contact@10minutes.news

Advertise with us
Contact Marjolaine to learn more: marjolaine@wearepragmatik.com
Press release
pr@10minutes.news
10 Minutes News for Hoteliers 10 Minutes News for Hoteliers
  • Top News
  • Posts
  • 🎙️ Podcast
  • 👉 Sign-up
  • 🌎 Languages
  • 📰 Columns
  • About us
Discover the best of international hotel news. Categorized, and sign-up to the newsletter

Input your search keywords and press Enter.