Board of Directors

Peter J. Schwartz

Chair - President of Laurence Capital Corp.

Stan G. Dunford

Chairman & CEO, Republic Live

Edward H. Kernaghan

Senior Investment Advisor, Kernaghan & Partners Ltd

David R. Shaw

Non-Executive Chairman, LHH Knightsbridge

John H. Bowey

Retired Chairman of the Board, Deloitte & Touche LLP

George H. Croft

President & CEO, Brick Brewing Co. Limited


Executive Team

George H. Croft

President & CEO

Sean Byrne

Chief Financial Officer

Russell Tabata

Chief Operating Officer

Contact Investor Relations

Sean Byrne

Email:
seanb@brickbeer.com

Telephone:
519-742-2732


Ethics Officer

Interested parties, including customers, suppliers, shareholders, or other individuals, who have concerns regarding ethical practices engaged by Brick Brewing Co. Limited, should please contact the Ethics Officer at: ethics@brickbeer.com.

A message from
George H. Croft, President & Chief Executive Officer

To Our Shareholders,

This past year was clearly an inflection point for your company, Brick Brewing. Five years of hard choices and clear decisions assembled the right pieces to place this company on a new trajectory toward enduring

success. First, we needed to get back into craft beer. We also needed greater productivity and returns from our facilities. We needed our Laker brand to be healthy. We needed to be a suitable partner for high-value co-pack and licensed brands.

Our fiscal 2017 financial performance tells the story of those choices and decisions:

  • Net revenue increased to $45.2 million, from $37.6 million in the prior year.
  • EBITDA improved to $8.8 million, from $5.6 million in the prior year.
  • Gross margin improved to 34.8% from 28.0% prior year.

A few years ago we had three production facilities. In 2014 we sold our Waterloo site and used the proceeds for the first phase of Kitchener expansion. Following our recently announced plan to exit Formosa, we will soon be operating a single state-of-the art brewhouse and distribution centre in our hometown of Kitchener-Waterloo. It is the greenest facility in North America with a dramatically reduced impact on water and energy usage, including decreased waste. This new facility also increased capacity and capability, and those gains will reward us well into the future. Hard choices. Outstanding results.

In 1984, Brick Brewing introduced the beer drinkers of Ontario to craft beer. We were the first craft brewer in the province and this year we will proudly reclaim that title. Our four core craft beers – Waterloo Dark, IPA, Amber and Pilsner - were all recently recognized with gold medals for product quality at the international product quality awards, Monde Selection, in Brussels Belgium. Our seasonal craft beers, led by the wildly popular Waterloo Grapefruit Radler, are adding further to our brewing reputation and making a significant contribution to the double-digit growth of our total craft business. Hard choice. Brilliant future.

The upgrades made to our production capabilities helped us increase our valuable co-pack business by 20% and helped us to secure a licensing agreement for Landshark® Lager and Margaritaville® cocktail coolers. We launched Landshark® Lager last summer and it was an unqualified success, the best beer launch in Ontario in over a decade. Hard choice. Great returns. All of this is made possible with a far healthier Laker brand, which grew by 15% last year; a remarkable accomplishment considering the global brewing giants against which Laker competes. Hard road. Worth all the effort. 

Thank you for your continued support of our brewery. We hope we are constantly giving you reasons to believe in the bold ambitions we have for this enterprise.

George H. Croft
President and CEO