E-Malt.com News article: Canada: Brick Brewing posts record annual EBITDA in the year to January 31

Brick Brewing Co. Limited, the largest Canadian-owned brewery in Ontario, on April 17 released financial results for the fourth quarter and year ended January 31, 2014. Brick posted record annual EBITDA of C$4.6 million on net revenue of C$37.7 million. Note that fiscal 2014 results include the impact of a C$0.7 million correction to Ontario beer tax expense.

"We put up a great result in fiscal 2014. Our team was successful in growing revenues and volumes, especially in our premium Waterloo and Seagram brands. The growth in premium brands coupled with our continued focus on cost reductions allowed us to expand margins, overcome the impact of the beer tax correction and still post record EBITDA," said George Croft, President and CEO at Brick.

In fiscal 2014, Brick increased marketing support for its proprietary brands - Laker, Waterloo and Seagram. The combination of new product introductions, and increased advertising and promotions, including free can-in-case, generated volume growth across the brand portfolio. Laker volume for the year grew by 4.5%, benefitting from the launch of Laker 12 pack bottles earlier in the year.

Going further, Mr. Croft added, "We feel we have a winning formula and the results bear that out: an improving product mix with higher growth in premium categories, a relentless determination to drive cost out of the business, a commitment to support and build our proprietary brands, and the discipline to manage the business to deliver the growth our shareholders expect and deserve."


18 April, 2014