BrewDog is reportedly not making steps towards launching an IPO at the moment, according to its CEO.

In a report from The Times, BrewDog's chief James Taylor said an Initial Public Offering (IPO) was "not on the agenda at the moment”, as the company announced a return to profitability for the first time since 2021.

The company, which confirmed Taylor's comments to Just Drinks, said that Taylor remained "focused on strategy and delivery".

BrewDog's former boss and co-founder James Watt had reportedly been considering an IPO for years, but detailed plans on the flotation have been few and far between.

In 2022, Watt announced plans to donate 20% of shares in the Scottish brewer, but noted the shares were unable to be traded, given the firm’s plan to launch an IPO had been delayed due to “market uncertainty”.

For the period ended 31 December 2024, the Elvis Juice brewer booked adjusted EBITDA of £7.5m, a 400% hike on its £2.5m loss in 2023.

2024 gross revenue however was relatively flat, declining 2.4% on the year prior to £357m. Net revenue reached £280m.

Speaking on the results, CEO James Taylor said: “2024 was a transformative year for BrewDog, and I am pleased to report the company has returned to profitability for the first time in several years. After a challenging 2023, we streamlined operations and improved our efficiency across our global footprint, which had a tangible impact on our bottom line.

"While our topline revenue growth slowed, we remain at historic highs demonstrating the continued appeal of our brilliant beers, the power of our brand, and the strong appetite for quality craft beer – especially in the UK where we achieved our highest ever share of the beer market and in Australia, which saw revenue growth of 34%."

The Times also reported that Taylor said the company would see a pre-tax loss in 2024. BrewDog did not disclose pre-tax loss figures for the year but confirmed to Just Drinks that there was no dividend for 2024.

James Taylor was promoted from CFO to CEO in March, replacing James Arrow who stepped down from the company after less than a year in the position.

At the time, the Black Heart brand owner said Taylor would bring “a wealth of financial and strategic expertise” to the role, having managed its financial operations at a point “of significant transformation, including the return of the business to profitability in 2024”.

Prior to holding the CFO role at BrewDog, Taylor also held senior leadership positions at childcare company Mayborn Group.

The appointment, BrewDog said represents “a seamless transition” as it focuses on “profitability, global bar expansion and innovation in the beer market”.