Revenues at Aberdeenshire craft beer giant BrewDog have risen by 21% to £286million as the firm sets its sights on becoming one of the world's most valuable beer brands.
Results for the year ended 31 December 2021 also saw profit margins grow to 53%, up from 48% in 2020, with increased scale and operational efficiencies.
BrewDog is still the UK’s fastest growing beer brand, with total beer sales are up around 80% since the start of the pandemic, which is around 4x the growth of the total beer market in UK off trade.
The firm invested £13million investment in new venues, with 7 new bars and 2 new hotels together with 2 new bars with franchise partners.
A further 30 new venues are planned for 2022, notably flagship bars in London Waterloo and Las Vegas (pictured).
During a year of complaints from former and current workers, BrewDog stated that it spent £9million more on its staff as it up-scaled resources, learning and development, rewards and culture.
The company made 839 new hires in 2021, bringing the total workforce to 2,346.
Average salaries across the company also rose by 3% in 2021.
Top 5 ambition
James Watt, CEO of BrewDog said: “I’d like to thank all our crew for their commitment and dedication, and especially the 839 people who chose to join us last year to develop their careers with BrewDog. 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.
"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.
“This year we celebrate 15 years as a company. The recent announcement of the Blueprint with two pivotal people initiatives are amongst the most radical decisions we have ever made and are my favourite things we have ever done as a business. Firstly, we are now sharing 50% of bar profits evenly with the amazing teams who work in these venues, creating a whole new business model for the hospitality sector.
"Secondly, I am giving away 5% of the company, worth just under £100m based on our most recent equity raise, to our salaried team members. This is about ensuring that we win collectively as a team and fully recognise all the hard work our incredible people contribute to making this business a success.
“We believe we have a once in a generation opportunity to build a business and brand that has a positive impact on the world. We are passionately committed to our goal of becoming one of the world’s five most valuable beer brands over the next five years, built on our three core pillars of Beer, People and Planet."
Click here to view the firm's full 2021 results