Meanwhile, Waterloo Brewing Ltd. CEO George Croft says the Ontario company actually realized double-digit percentage increases in sales in 2020 because only about two per cent of its volumes are sold in bars and restaurants most is marketed in retail stores.
Big Rock reported Friday it had earnings before interest, taxes, depreciation and amortization of $5.1 million in 2020, compared with an EBITDA loss of $1.1 million in 2019. Our EBITDA performance has returned back to where it was in 2013 and our balance sheet is strong as we used that money to pay down debt, said CEO Wayne Arsenault in an interview.
He said the craft brewery s outperformance came despite headaches caused by the pandemic a year ago as its on-premises customers were forced to shut down at the same time that travel restrictions prevented equipment manufacturers from flying in to make a key brewery repair.
Big Rock Brewery posts higher sales, volumes in 2020 despite COVID-19 pandemic woes
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Craft breweries report higher sales, volumes in 2020 despite COVID-19 pandemic woes - Medicine Hat NewsMedicine Hat News
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