The latest figures contribute to a cumulative pre-tax loss of £148m since its last profitable year in 2019.

The financial strain has prompted the brewer to take on further debt, including an additional £20m loan from its main shareholder, TSG Consumer Partners. The company has also been servicing loans with interest rates as high as 18%, which has seen its annual interest payments climb by £4m to £17.3m. Meanwhile, revenues saw a marginal increase of £2m, reaching £357m.

The challenging financial report coincides with a period of significant change for the company. Co-founder James Watt stepped down as chief executive after 17 years, followed shortly by the departure of fellow co-founder Martin Dickie. The company has also announced the closure of 10 bars, including its original site in Aberdeen, citing “ongoing industry challenges”. This has contributed to a reduction in staff numbers, from 2,618 to 2,411.

Despite the pre-tax loss, new chief executive James Taylor described the period as a “transformative year”. The company highlighted its preferred performance metric – earnings before interest, taxes, depreciation, and amortisation (EBITDA) – which it said returned to a profit of £7.5m. BrewDog also achieved a record 4.56% share of the UK beer market.

Looking ahead, the firm acknowledges risks from rising ingredient costs and increased competition. However, directors stated they have a “reasonable expectation” that the group has adequate resources to continue operations until at least the end of 2026.