BrewDog has released its 2022 annual report, with plans to triple its estate to more than 300 bars globally by 2030.
India, where BrewDog plans to open 100 bars in the next decade, was named as becoming one of its most important international markets in the next five years.
Sites have been identified for new openings in the US, Australia, Italy, the Netherlands, and Thailand as well, with the company also planning to open further sites in the UK.
According to the report: “Investments in people, the brand, the infrastructure together with significant impact cost headwinds have had a detrimental effect on the financial performance of the company in 2022…however the growth of key brands continues.”
Earlier this year, the brewer and bar operator reported revenues in excess of £320m in 2022 – up 13% on 2021 figures - with global bars achieving revenue growth of 69%.
Investment in new locations included BrewDog’s biggest venues globally – Waterloo and Las Vegas – with Waterloo outperforming forecasts since its opening, according to the update, as well as landmark venues in Sydney and Melbourne.
“It is absolutely in our plans to open more statement sites in the coming years, with a pipeline of venues around the world continuing to progress.”
BrewDog also cited “rock solid” sales and distribution channels in Japan and China, while investing in its HQ of Ellon, Aberdeenshire. This includes a new distillery in Ellon to meet “massive potential” in rum, gin, vodka, and whisky production.
It will release new products including a tequila made from 100% agave, a new canned cocktail range, and whisky.
“We have enough headroom for the growth anticipated in the next 10 years with the ability to meet the increasing demand we have forecasted.”
Its core four brands – Punk IPA, Lost, Hazy Jane, and Planet Pale – have grown 30% over the past three years and were responsible for 89% of all draught value.
2022 delivered market-leading beer volume growth of 66% vs pre-pandemic, with Lost Lager its fastest growing brand in supermarkets.
CEO James Watt commented: “2022 was not without its challenges and we are proud to have delivered 13% top line growth in a difficult operating environment.
“I am very confident in our team’s ability to rise to the occasion and continue to grow, continue to take market share and continue to grow our community despite the ever-evolving series of headwinds all businesses are currently facing.”
