CBA Announces Soft 2014 Numbers
Craft Brew Alliance announced today in a preliminary financial report that the company had a net sales growth of $1.8 million for the fourth quarter, an increase of 4% over the fourth quarter in 2014, in spite of flat shipment volume. Gross profit for the fourth quarter increased by 13% to $15.5 million, and gross margin expanded by 260 basis points to 31.4%, reflecting improved pricing and material costs compared to the same period last year.
Net sales grew 4% while beer shipments were flat in the fourth quarter, reflecting higher net revenue per barrel, primarily due to favorable pricing and package mix.
Overall, depletions declined 1% from the fourth quarter of 2014, while depletions for Kona Brewing increased by 27% in the fourth quarter and continued to outpace the growth of the overall craft market.
For the year, shipments declined 1%, while Kona saw shipments increase by 17% for the year.
The strong growth in the Kona brand, Omission Beer and Square Mile Cider were offset by declines for Redhook Brewery, Resignation Brewery, and Widmer Brothers Brewing.
