BrewDog records multi-million pound loss in US market slump
The Ellon-based beer firm poured £4.2m into its stateside branch in 2024 but has recorded a loss of £6.7m, blaming a slowdown in the craft beer market, the Scottish Sun has reported.
'This is not pretty at all,' one shareholder told the newspaper, adding that the 'whole situation looks pretty dire'.
It was reported that BrewDog has also slashed its operations in the US, with its brewery in Columbus, Ohio, running at 30% capacity.
READ MORE: John Swinney urges UK's biggest news agency to reconsider Scottish job cuts
The drinks firm has also cut the number of states they sell to from 33 to 14.
In a recovery bid dubbed Operation Slingshot, BrewDog has ramped up its production for other US companies with contract brewing up 544%.
However, CEO James Taylor reportedly insisted the US operation had turned a profit of £376,000.
He said: 'It's not a disappointing result at all.
'It's not vast, but we've returned it back to profit. There is still much to do and a huge opportunity.'
Accounts also revealed BrewDog USA chief John Graham stood down at the start of the year after less than two years in the role.
The company's accounts showed last year that it made a loss of £59m, it was the fourth year in a row that BrewDog had posted significant pre-tax losses.
Previously, it recorded losses of £12.5m in 2020, £9.4m in 2021, and £30.5m in 2022.
At the time, BrewDog said the losses recorded in 2023 were 'driven by one-off impairment costs related to historic acquisitions and restructuring'.
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