E-Malt.com News article: Canada, ON: Brick Brewing registers strong third quarter growth

Brick Brewing Co. Limited ("Brick" or the "Company"), the largest Canadian-owned and Canadian-based publicly held brewery in Ontario, released financial results for the third quarter of its 2014 fiscal year on December 12. Net revenues of C$9.6 million for the third quarter represented 27% growth versus the previous year. EBITDA for the third quarter of C$1.9 million was up from C$0.4 million last year.

The Company continued to invest in its core supported brands and achieved double-digit volume improvement in the third quarter. Within the above premium craft portfolio, Waterloo volumes increased 29%. Laker volumes in the quarter improved versus year ago driven by aggressive promotional activity in the second quarter. Additionally, the quarter benefited from strong year-over-year improvement in co-pack production.

Brick Brewing's President and Chief Executive Officer George Croft said, "Overall, we're very pleased with the results we're reporting today. In an environment where the overall beer category volume was largely flat in the third quarter, we've been able to show growth in our supported brands while also significantly improving our EBITDA performance. This is a testament to our focus on the category segments with higher growth and margin - premium craft beer as well as coolers and ciders. We did experience volatility in our earnings from second to third quarter, the result of the timing of our brand support activities. Moving forward, we would expect to return to more normalized quarterly performance. We continue to focus on execution, cost control and improved efficiency, all of which were central to the results we're reporting."

About Brick Brewing

Brick is Ontario's largest Canadian-owned and Canadian-based publicly held brewery. Founded in 1984, Brick Brewing Co. was the first craft brewery to start up in Ontario, and is credited with pioneering the present day craft brewing renaissance in Canada. Brick has complemented its Waterloo brand premium craft beers with other popular brands such as Laker, Red Baron, Red Cap and Formosa Springs Draft. In March 2011, Brick purchased the Canadian rights to the Seagram Coolers and now produces, sells, markets and distributes Seagram Coolers across Canada.


13 December, 2013