Teeling profits freefall 91% in 2025
Bacardi-owned Teeling Whiskey saw its post-tax profits plummet by 91% last year, falling from €3.4 million (US$4m) in 2024 to €295,428 (US$345,900) for the year ending March 2025.
The Dublin-based distillery also saw turnover fall by nearly 14% to €23.7m (US$27.7m), hit hard by slumping whiskey sales and rising costs. The previous year, its turnover reached €27.5m (US$32.2m).
The Irish whiskey sector endured a challenging period during the financial year, caused in large part to growing input and labour costs as well as overstocking issues, all of which was exacerbated by trade restrictions.
However, the financial period ended briefly before US president Donald Trump imposed a 15% import tariff on Irish whiskey exports (10% tariff for Northern Ireland) to the US in April, which has since caused significant disruption to the sector.
Across its markets, Teeling saw its Irish sales fall to €6.8m (US$7.9m) from €10.4m (US$12.2m) in 2024, while its sales outside of Europe also shrank from €11m (US$12.8m) to €8.4m (US$9.8m). However, these sales volume declines were partially offset by growing revenue from the rest of Europe, which grew from just over €6m (US$7m) to €8.5m.
However, the firm’s services income, largely driven by the distillery’s visitor centre, remained steady, at approximately €3.3m (US$3.9m). In May 2025, Teeling welcomed its one millionth visitor to its distillery after a decade of distilling in the city.
In addition, despite an employee headcount increase of one, the firm managed to decrease its staffing costs.
Going forward, Teeling has an opportunity to increase its production capacity after securing the option to acquire an adjoining building from the family-run Creedon property group. The estimated cost for this expansion work falls around €10 million-plus.
Founders Jack and Stephen Teeling established the brand in 2012, and sold an initial 40% stake to Bacardi in 2017. The drinks firm bought another tranche of shares in November 2023 for a reported €44.8m (US$52.5m), and holds the option to buy the remainder of the company for €29.8m (US$34.9m).
The Spirits Business has reached out to Teeling for comment.
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